Insurance for Seafood Wholesalers in Massachusetts

In Massachusetts, all businesses with employees must have workers’ compensation insurance. Additionally, commercial auto insurance is required to cover your fleet of trucks, vans and other ground transportation vehicles for wholesale seafood distribution. If your company uses fishing vessels, barges or supply boats, you will also need commercial marine insurance. Property owners often require commercial property insurance as part of leasing agreements as well.  

While these coverages are the best starting point for any seafood business, they are generally not enough to keep most wholesale seafood businesses fully protected. When searching for insurance quotes, remember that low limits and high deductibles of barebones insurance can leave you with financially devastating out-of-pocket costs — even following a loss that is partially covered. To help you avoid such a scenario, our commercial insurance division will help discover the proper levels of coverage for your unique business needs, as well as any additional options worth considering.  

Below, we’ve outlined a few key coverages that we commonly recommend to clients in need of insurance for seafood wholesalers in Massachusetts.  

• Spoilage – As a seafood wholesaler, keeping a large inventory of fresh, refrigerated or frozen seafood is an essential aspect of your business. If this inventory were to become spoiled, you could be faced with significant financial losses. You can protect your perishable stock by adding a spoilage endorsement to your Business Owner’s Policy (BOP). Rot, equipment breakdown, power outages and contamination related losses are covered under most spoilage endorsements.  

• Cargo Insurance (Refrigerator Breakdown) – Losses that occur while inventory is being transported can be compensated for with the right cargo insurance. This coverage can also include refrigerator breakdown (or reefer coverage) to protect against spoilage that occurs while in transit, due to the failure of mobile cooling units. 
• Business Personal Property – A quality Business Owner’s Policy (BOP) will generally include this coverage. This protection applies to your building, machinery and other property. If these resources were to become damaged by fire, theft or other covered events, this component can provide financial resources to restore them. 
• Business Income Extra Expense (Business Interruption) – This coverage can help make you whole again after your business is forced to temporarily shut down due to fire or other covered loss. Expenses for payroll and rent during property restoration are commonly covered under this insurance option as well. 

Don’t put your livelihood in the hands of just any insurance agency. If you are searching for quality insurance for seafood wholesalers in Massachusetts at a price that fits your budget, look no further than our team at McSweeney & Ricci. Request a quote here on our website or call (844) 501-1359 to get started.