Air Conditioner Manufacturer Insurance
Manufacturers of air conditioning systems can have comprehensive insurance coverage for many day to day business aspects under air conditioning equipment manufacturer general liability insurance. For many other aspects of business protection, a customize BOP plan can protect a whole slew of other potential litigious situations, as well as your assets – all under one policy.
General Liability Insurance Includes
- Bodily Injury – In the manufacturing business, there is always risk involved for delivering products that could potentially cause harm to customers, or even mental suffering in specific circumstances. Additionally, an accident in your shop with a potential vender, for instance, is covered under the bodily injury portion of your air conditioner manufacturer general liability insurance plan. Your subsequent legal and medical expenses have coverage in the event you are faced with a lawsuit.
- Medical Payments – In the event of bodily injury (BI), the individuals will be reimbursed for medical or funeral expenses sustained a as a result of an accident with regard to the conditions which are specified by the general liability policy, regardless of the insured’s liability.
- Property Damage – If your company or anyone who represents you damages another person’s property, this portion of liability insurance protects you from financial and legal expenses you may incur. Additionally, damage to another’s property is also covered if it occurs on your business premises as well.
- Fire Legal Liability – This portion of your liability covers you in the event that a fire damages your buildings or garages that you occupy. This coverage is typically given as an exception to policy exclusions that are applied to property in the policy owner’s care, custody, or control (CCC). Within the standard commercial general liability (CGL) policy, fire legal liability of the policy owner is in effect, subject to the limit of “damage to premises rented to you”.
- Products and Completed Operations – As a manufacturer of air conditioners, you could potentially be sued if a client is not satisfied with your product, including causing physical harm, or if it damages their property in anyway. When you carry products and completed operations coverage, you are covered for legal and financial costs if a lawsuit is brought against your company.
- Personal and Advertising Injury – In cases of libel, discrimination, slander, or the like, your company is covered for the legal expenses in the event you are sued.
Business Owners Insurance Policy (BOP) For Manufacturers
- Building Coverage – Air conditioner manufacturer business insurance is a big part of protecting your physical assets such as your building and any structures you use to house equipment and product. This coverage also takes into account the improvements, additions, and construction you have invested into your business, as long as they are permanent changes and you have listed covered buildings or structures on your policy.
- Business Personal Property Coverage – This portion of your BOP is typically referred to as contents coverage in the insurance business and it typically refers to what you physically have in your business structures. You can opt to cover important data, files, equipment, furnishings, and products that your company owns when you elect this coverage for your air conditioner manufacturer business insurance policy.
- Additional Coverage in BOP – Ask about opting in to these additional coverage areas: Income and extra expense, Inland Maine, Employee Dishonesty coverage, and Valuable Papers.