Warehouses--Private--Other Than Not-For-Profit

What Does GL Code 68706 Cover?

ISO GL class code 68706 covers private warehouses that are not operated by not-for-profit organizations, classifying operations related to the storage of goods owned by the warehouse operator or a single tenant. This code applies to facilities primarily engaged in warehousing and distribution activities for their own inventory or for a specific commercial entity.

Who Uses This Class Code?

Businesses such as manufacturing companies storing their raw materials or finished products, large retail chains maintaining inventory for their stores, and single-occupancy logistics centers for a specific client would fall under this code. This also includes private storage facilities used by construction companies for equipment and materials.

Common GL Claims for This Class

Common claims for private warehouses include slip-and-fall incidents by visitors or delivery personnel, property damage to third-party goods stored within the facility due to fire or water leaks, and bodily injury from falling merchandise or equipment malfunctions.

Coverage Tips for Code 68706

• Ensure your policy accurately reflects the total square footage and construction type of the warehouse, as this directly impacts premium calculations and potential audit adjustments.
• Verify that your General Liability policy includes coverage for 'Damage to Premises Rented to You' with adequate limits, especially if you lease the warehouse space.
• Implement robust security measures and maintain clear records of these, as carriers often offer credits for features like alarm systems, surveillance, and secure fencing, which can also mitigate theft claims.
• In Florida, consider flood insurance as a separate policy, as standard GL policies exclude flood damage, and many warehouse locations are in flood-prone areas.