It is liability coverage, so it does not respond simply because goods were damaged in your building. Loss without fault on your part sits with the owner of the goods. Wear, inherent vice, and damage from insufficient maintenance are excluded, as is intentional damage. Your own building and equipment belong on commercial property, your vehicles on commercial auto, and goods once they are moving on motor truck cargo or inland marine. Employee theft of stored goods is usually a crime coverage question rather than this one.
Related FAQs
No, and the distinction matters. It is liability coverage, so it responds when you are legally responsible for a loss, not simply because the loss happened in your building. ...
Usually not. Warehouse legal liability responds where the operator is legally responsible for the loss, and under the Uniform Commercial Code a warehouse is not liable for damage that ...
Yes, and it is the most useful thing on this page. Under the Commercial Code a warehouse is liable for loss caused by a failure to exercise the care ...
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