Many Pallet and wood product companies have had hardships with regards to insurance pricing over the past year. Price increases along with higher deductibles have made it hard to partner with the right carriers. We have founds some pretty simple ways to make sure your pallet company can become best in class, thus assuring the most competitive pricing with regards to insurance. Some target issues that property insurer’s are looking for when loss controlling an account are housekeeping, hot work programs, and thermo scanning. House keeping in the pallet/wood manufacturing world can be tough because of the large quantity of revolving product coming in and out on a daily basis. Keeping aisle’s clear, constantly keeping up with dust pick up, and proper disposal will substantially help in keeping costs lower. Another simple tool we assist our customer’s with is keeping proper OSHA/safety programs, such as a hot work program. A hot work program log can be easily implemented in any pallet or wood operation. Records are maintained ever time a machine is repaired via welding. Some insurance programs will not offer you a quote unless you have a hot work program in place. Lastly, it is becoming very common for carriers to ask that insured’s perform an annual thermoscan of their building to make sure there aren’t any hot spots.
By being pro-active and keeping a strategic safety program in place you will ensure that you company is on the road to a best in class operation. Following the strategic plans such as the ones we have in place for our customer’s makes your company more desirable amongst the insurance carriers that target your class of business.
