A baffling phenomena is that too many business executives, who store goods in a public warehouse, do not have their own insurance for the goods stored in those warehouses. The have the mistaken belief that the warehouseman will make good on any loss they may experience—notwithstanding the warehouseman’s limitation of liability of $0.50/lb or 200 times the storage charge and the value of the goods being far in excess of those amounts. When one does the math, it becomes clear as to the benefit of having one’s own insurance policy. And, not all policies are the same. Great care must be exercised in selecting perils, limits, deductibles and, especially, valuation of the goods for loss payment.