Insurance for Manufacturing Industry
Tailored small business insurance protects your company from financial risks, ensuring it grows securely. It's not just a cost, it's a smart investment in your company's future.
General Liability Insurance For Manufacturers
- Manufacturers need general liability insurance to protect against financial issues from customer harm.
- It covers personal accidents or property damage, though these may be less relevant to manufacturers.
- General liability is crucial for product and advertising liability, protecting against financial burdens if a product or ad causes harm.
- It also extends to cover new products and can be purchased alone or as part of a BOP package.
Business Owners Policy (BOP) For Manufacturers
- Manufacturing companies need business owners insurance (BOP) to protect against asset loss.
- BOP covers losses from natural disasters or accidents, including repairs or replacements for damaged facilities.
- It protects internal assets like manufacturing machines, specialized software, and electronics from damage or breakdowns.
- BOP covers lost income during business interruptions and can provide temporary structures while repairs are made.
Workers Compensation Insurance For Manufacturers
- Manufacturing companies are legally required to carry workers' comp insurance.
- Workers' comp covers employees' medical and emergency care for work-related injuries or illnesses.
- It's a no-fault insurance, meaning employees don't need to prove fault to receive benefits.
Commercial Auto Insurance Policy For Manufacturers
- Manufacturing companies offering delivery services need commercial auto insurance.
- It covers company vehicles, staff-used personal vehicles, and rented or loaned vehicles for business purposes.
- Commercial auto insurance pays for repairs or replacements of vehicles damaged in accidents.
- It also provides medical coverage for drivers and third parties involved in accidents.