PLM Launches HardwareXPress for Hardware Stores

Pennsylvania Lumbermens Mutual Insurance Group (PLM) announced its launch of an innovative insurance product tailored to the unique needs of hardware stores.

Source: PLM | Published on March 1, 2023

PLM

Pennsylvania Lumbermens Mutual Insurance Group (PLM), the largest mutual insurer dedicated to wood-related businesses and rated A- (Excellent) by AM Best, announced today that it is launching an innovative insurance product tailored to the unique needs of hardware stores. HardwareXpress provides fast, convenient and comprehensive coverage including:

  • Property
  • General Liability
  • Auto
  • Inland Marine
  • Umbrella
  • Employment Practices Liability
  • Cyber Liability
  • Crime
  • Business Income
  • Workers’ Compensation (placed by ABM through other carriers)

“With HardwareXpress from PLM, we hope to help our insureds navigate uncertainties with confidence that they have the insurance coverage they need to fit their unique set of risk exposures,” said John K. Smith, PLM President and CEO. “We are excited to provide this tailored suite of coverage to help protect America’s hardware stores, which are often recognized as the foundation of the woodworking and lumber industry.”

PLM has an appetite for hardware stores of all sizes – regardless of values, autos, or locations. HardwareXpress is designed for business owners with a single location, up to $3 million in total insurable value, up to $2 million in annual sales, and with four autos or fewer under ownership. Workers’ compensation coverage is placed by Allied Building Material Agency (ABM), PLM’s in-house wholesale brokerage, which works with carrier partners to round out PLM accounts. No pre-inspection of the property is needed. PLM will work with business owners to conduct a virtual inspection within 15 days of binding a policy.

“Our experience across decades has given us the insights we needed to design HardwareXpress with the hardware store owners and customers in mind,” said Matthew Kienholz, Director of Regulatory Compliance at PLM. “This new solution was designed to be quick, easy, and requiring no pre-inspections, providing the comprehensive and carefully curated coverage that our customers have come to expect from us.”

PLM was founded more than 127 years ago by lumbermen for lumbermen and continues to specialize in serving the insurance and risk management needs of the wood niche. PLM provides property and casualty insurance products designed to meet unique risks and needs across 80 different specializations and insurance categories.

To learn more about PLM and HardwareXpress, please visit https://www.plmins.com/hardware/.

About Pennsylvania Lumbermens Mutual

Pennsylvania Lumbermens Mutual Insurance Company (PLM) (www.plmins.com) is a nationally recognized property and casualty insurance carrier serving the lumber, woodworking and building material industries. Backed by 127 years of experience, the Philadelphia, Pennsylvania-based company protects over 5,000 businesses nationwide with property, general liability, inland marine, business automobile, commercial excess liability and equipment breakdown coverages.

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