Understanding the Warehouse Receipt and Bill of Lading in the Event of a Catastrophe
With major events such as a Hurricane Ida, a large number of people unfamiliar with the claims handling process are typically drawn into the territory of filing an insurance claim. Even commercial accounts can be facing their first major loss and naturally feel a great deal of anxiety with the process. Depending on the circumstances, services can be limited, and the policyholder is somewhat at a loss as to what to do.
For a warehouseman or a motor carrier, it’s important to become familiar with the documentation that the claims adjuster will be asking for in the process of the claim investigation.
The documentation will consist of:
- Original Warehouse Receipt/Storage Agreement, Household Goods Bill of Lading and Freight Bill
- Are the parties (Shipper/Consignee) and Carrier clearly identified?
- Is the weight of the shipment properly noted at both pickup and delivery
- Is the valuation section of the warehouse receipt or Bill of Lading properly noted as to the customers selection of either:
- $.60 per pound
- Declared Value
- Were any separate all risk certificates of insurance issued to the shipper; if so are copies complete with all names and amounts of insurance clearly noted on the documents?
- Has the Shipper signed and dated the warehouse receipt or Bill of Lading?
Household Goods Inventory:
- Are all items that are being stored/shipped documented on the inventory?
- Are items that are PBO (Packed by Owner) clearly noted as such?
- Were any items of extraordinary value declared and noted on the warehouse receipt, Bill of Lading or the Inventory?
Natural disasters are quick, unexpected and very damaging.
As a mover, it’s essential to understand the beginning-to-end process of what to do in the event of the claim. The last thing anyone wants to do is to go through this type of process, smack dab in the middle of a disaster.
Written By: Brandon Laam
Brandon has been a transportation insurance specialist for over 10 years, and is constantly striving to create enhanced services for brokers and insureds.
Brandon spearheads the MOVER’S CHOICE philanthropy efforts with Move for Hunger, a national organization working with the moving industry to reduce food waste and fight hunger. Outside of the office, Brandon likes to fish, hike, kayak, garden and read.