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Transportation and Warehousing

Find Insurance for the Transportation and Warehousing Industry

(Getting the right protection has never been easier)

Jessica Huneck | March 22, 2020
Transportation and Warehousing

The transportation and warehousing industry is an important one in the United States and it offers business owners high income potential. However, this industry also carries a number of risks including the high potential for property damage, injuries and liability lawsuits. 

Fortunately, when your business is protected by a solid business insurance plan that has been especially tailored to your particular industry, you can rest assured that it is as protected as it can be against the financial losses that are common in this industry.

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What Businesses Fall Within the NAICS’s Transportation and Warehousing Sector?

The National American Industry Classification System, more commonly referred to as the NAICS, categorizes businesses into a number of sectors and subsectors. This is done for the purpose of data collection, analysis and economic reporting. 

There are currently 499,741 U.S. business establishments classified as falling into the NAICS’s Transportation and Warehousing Sector. These include the following business types:

  • Passenger Transportation, including
    • Scheduled air transportation
    • Non-scheduled chartered air transportation
    • Deep sea transportation
    • Coastal and Great Lakes transportation
    • Inland water transportation
    • Commuter rail systems
    • Bus and other motor vehicle transit systems
    • Taxi service
    • Limousine service
    • Special needs transportation
    • Mixed-mode transit systems
  • Scenic and Sightseeing Transportation
  • Freight Transportation, including
    • Scheduled air transportation
    • Non-scheduled chartered air transportation
    • Deep sea transportation
    • Coastal and Great Lakes transportation
    • Inland water transportation
    • Freight transportation arrangement
  • Railroads, including
    • Line-haul railroads
    • Short line railroads
  • Trucking, including
    • General freight trucking, local and long-distance
    • Specialized freight trucking, local and long-distance
  • Used Household and Office Goods Moving
  • Pipeline Transportation, including transport of
    • Crude oil
    • Natural gas
    • Refined petroleum products
  • Air Traffic Control and Other Airport Operations
  • Port and Harbor Operations
  • Marine Cargo Handling
  • Packing and Crating
  • Mail and Package Delivery, including
    • Postal service
    • Courier and express delivery service
    • Local messengers and delivery
  • Warehousing and Storage, including:
    • General warehousing and storage
    • Refrigerated warehousing and storage
    • Farm products warehousing and storage

Insurance for the Transportation and Warehousing Industry Is Essential

The transportation and warehousing industry sector is comprised of three main subsectors: transportation, warehousing and storage, and support activities for transportation companies. It includes air, rail water, roadway and pipeline transportation, as well as all warehousing and storage facilities.

Within this industry, there are a number of inherent risks including potential injuries to passengers and property loss that might be caused by a natural or man-made disaster. 

Fortunately, companies in this industry can protect themselves with a comprehensive business insurance plan that is designed specifically for the transportation and warehousing industry.

These policies will include a number of coverage options, many of which are exclusive to this industry. Some options that may be important to your business include:

  • Commercial Vehicle Insurance: If you are involved in the transportation business, your company is likely to own a fleet of vehicles. Commercial vehicle insurance can protect your business from liability issues as well as property damage to your own cars and trucks. If your business involves transporting people or hazardous materials, you will likely be required to purchase a higher level of liability coverage.
  • Third-Party Property Insurance: Whenever you are storing or transporting goods and merchandise for third parties, you are in a position of responsibility if anything should happen to those products. You can purchase coverage to limit your exposure due to losses caused by:
    • Natural or man-made disasters
    • Contamination
    • Infestation
    • Theft
    • Exposure to extreme temperatures or loss of refrigeration
    • Fourth-party warehouse arrangements
  • Umbrella Insurance: Depending on the size and scope of your company, this extra liability coverage may nor may not be necessary. If you are responsible for storing or transporting large amounts of expensive merchandise, or if your business runs buses or other large people-moving vehicles, your liability risks will likely exceed your maximum coverage. An umbrella insurance policy may therefore be vital to protecting your investment.

Remember too that if your company operates in or travels through a number of different states, you may need to modify your policy to ensure complete coverage. 

As with any type of insurance policy, it is strongly advised that you discuss your many options with an insurance professional before making a purchase.

An Independent Agent Can Help You Build the Right Business Insurance Policy

There is no reason to struggle with understanding the many different coverage options offered by business insurance policies for the transportation and warehousing industry. Instead, turn to an independent insurance agent in our network for assistance. 

These agents are equipped to answer your insurance-related questions and help you build a policy that is well-suited to your specific company.

Because these agents are independent of any particular insurance company, they can work with a variety of highly-rated insurance companies to present you with a selection of policies and rates. 

Contact an independent agent near you to learn more about insurance for the transportation and warehousing industry.

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