Metal Manufacturer Business Insurance
As the owner of a metal manufacturing business, you likely provide goods and services to other companies. Depending upon your business structure however, you may also offer those same goods and services to consumers as house decorations, specialty building projects and more. Juggling the day-to-day details of all your products, projects and customers can be stressful. The last thing you need to worry about is having an unexpected accident put you out of business. Make sure you are fully protected with your business insurance coverages.
General Liability For Metal Manufacturers
General liability insurance protects your company from financial ruin when accidents happen. If you do not have this basic broad level of business insurance coverage, your metal manufacturing company may have to pay for damages or injuries directly out of pocket. General liability instead protects you from even those risks that you may not have thought of in advance, and it grows as your company grows so that you’re always covered.
General Liability Insurance Includes:
- Premises Liability – Accidents can happen at any business. Whether your metal manufacturing company allows customers onto the manufacturing floor or just in the retail store areas, there is always the potential risk that a customer may hurt themselves somehow. When customers injure themselves on your business premises, or when their personal property is subjected to damages while there, your premises liability can cover the costs of medical care and repairs.
- Products Liability – When you sell products to your customers, there may come a time that one or more products is found to be defective or harmful. Regardless of whether you simply sold the product or you manufactured it directly, the customer may sue your company for suffering or damages. Product liability is the portion of your general liability insurance protection that pays for those injuries and damages. This coverage can also pay for your litigation defense expenses, customer pain and suffering, and legal settlement costs.
- Completed Operations – Your metal manufacturer business likely offers services to its customers. Once your contracted obligations are completed however, the chance of risk do not disappear. If a customer later claims that the services you performed damaged their property or caused them physical injuries, they may file legal suit. Your completed operations coverage can pay for your legal defenses, pay the customers injuries or property damages and more.
Business Owners Policy For Metal Manufacturers
General liability is included automatically as part of a business owners policy, or BOP. A BOP focuses on providing you with business insurance protection for your physical and intangible assets. You can custom select the levels of coverage your metal manufacturing company needs, so that you’re not paying for insurance that is of no use. Some of the areas a BOP provides protection for include:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
Commercial Auto Coverage For Metal Product Manufacturers
Business auto insurance protects you from financial losses caused by auto accidents. Whether you are driving to a business meeting or you have an 18 Wheeler tractor trailer delivering finished products, if an auto accident occurs then this insurance can protect you from the costs that arise. It pays for physical injuries and property damages, and can protect you from uninsured motorists, provide cargo loss protection and more.
Workers Compensation For Metal Workers
Your metal manufacturing company is required by law to carry workers comp insurance for its employees. If an accident causes an employee to sustain injuries on the job, this coverage will pay for their required medical care.
Commercial Umbrella Coverage
Umbrella coverage is an extension of your other business insurance policies. If you reach the maximum limits on another policy, your umbrella policy can provide additional levels.