Appliance and Accessories Manufacturers
Appliance and accessories manufacturers are an important part of the economy, both for the products you supply and the jobs represented by each manufacturing plant. Businesses like manufacturers need complete care to keep liability coverage current and to gain even more business protection with an appliance and accessories manufacturer business insurance plan. This ensures that you will keep structures, products, and assets more secure in the event of litigation or damage.
General Liability Insurance Includes
- Bodily Injury – As a business owner, there are always liability risks. Whether from a mistake in design that results in injury, an accident in your shop, or even mental suffering – liability has your financial assets covered in the event your business is at fault and you are sued.
- Medical Payments – Medical costs and funeral expenses are covered from any resulting bodily injury (BI) that is sustained as long as the conditions are stipulated in your appliance and accessory manufacturer liability insurance policy.
- Property Damage – If the event that another person’s property is damaged, either on the premise of you business or while your company is conducting business at another location, you will be covered for financial and any legal expenses that result.
- Fire Legal Liability – Under your appliance and accessories manufacturer general liability insurance policy, your structures, including garages you use for your business, are covered in the event of fire damage. The policy is usually an exception to policy exclusions applied to the property in your care, custody, or control (CCC). Within the standard commercial general liability (CGL) policy, your fire legal liability policy is covered applicable to the “damage to premises rented to you” limitation.
- Products and Completed Operations – As a manufacturer of appliances such as stoves, dishwashers, and laundry units, you always have a risk of being sued if a customer is dissatisfied with your product. Additionally, your policy gives coverage in situation such as an appliance causing damage to property or even harm to the customer.
- Personal and Advertising Injury – Legal woes can also come to you in other ways as well, such as when you are accused of discrimination, libel, slander, or other claims in regards to personal and advertising injury. While these instances don’t encompass direct harm to property or person, they can cause significant legal cost and therefore are a very important aspect of you overall general liability policy.
Business Owners Insurance Policy (BOP) For Manufacturers
- Building Coverage – Appliance and accessory manufacturer business insurance is integral to protecting your very livelihood – the structures in which you do business. If your property is damaged, you can offset these exorbitant costs within your BOP when you list them on your policy. In addition, the permanent improvements and additions you make to your expanding company will also be covered as well.
- Business Personal Property Coverage – Coverage for items such as furnishing, your equipment, and products you manufacture, can be covered in your appliance and accessory manufacturer business insurance when you choose this portion of coverage.
- Additional Coverage in BOP – Options to consider adding coverage for in your BOP: income and extra expense, employee dishonest, and Inland Maine, to name a few.