Pickled, Sauces, Seasonings Manufacturer Insurance
The industry responsible for the production of sauces and seasonings has generated more than $21 billion. That number is expected to grow by more than 2% every year. If you plan to take advantage of this growth in your industry, you need to get insured. Before you start collecting quotes, here is what you need to know about pickled, sauces, seasonings manufacturer insurance.
You likely spend most of your workday at your business building. If a visitor gets injured there or his or her property becomes damaged while at your place of business, you could be held liable. Even if you primarily make food there and rarely let the public on the property, there is still a chance that someone will arrive for a tour or inspection and become injured. They could also simply get lost in your parking lot and damage their car on a speed bump or pothole.
When this occurs, you might be required to pay for repairs or medical treatment as necessary. But if you are not financially prepared for this expense, it could put you out of business. That’s why you need general liability as part of your pickled, sauces, seasonings manufacturer insurance. This will also cover you if a competitor claims you have committed copyright infringement, slander, or libel.
Business Owners (BOP)
Whether you work in a factory or in an office, it’s up to you to protect your business property. You can do this by having a BOP, which includes a few important coverage types. One of the most important types pays for repairs to your building after vandalism, a fire, or any other event that causes damage. It will also pay to replace the items inside the building. Other types of coverage within the typical BOP include forgery and alteration, sewer and drain backup, and equipment breakdown.
As someone in the pickled, sauces, seasonings manufacturer industry, you might find that you have to drive for business purposes once in a while or even frequently. When you do, you need to make sure commercial auto is included in your business insurance policy. Without it, you won’t be covered if you cause a car accident when your’e driving for work, since personal policies will not pay for the damages. For this reason, if you want to make sure you have coverage for property damage and personal injuries, commercial auto needs to be part of your pickled, sauces, seasonings manufacturer insurance policy.
If you own a business in the pickled, sauces, seasonings manufacturer field, you probably have at least a few employees. Workers comp will protect them, along with your business. This is because this coverage pays for their medical treatment and lost wages if they are hurt at work. Whether they are injured with chemicals or hurt while using equipment, they deserve to know that they won’t have to pay for their own medical treatment or rehabilitation.
If you want to make sure your business insurance policy fully protects you, add excess liability. This kicks in when your general liability coverage is used up, which can happen with a lawsuit that is more expensive than usual.