Wood Product Manufacturer Insurance

As a wood products manufacturer, your company focuses on creating quality products and shipping them around the country or the world to be sold. You may not deal with consumers directly, but you must pay attention to what’s popular and trendy at any given time so that you can be sure to keep your company as profitable as possible. You invested a lot of time and money into starting your business and you work hard to keep it successful every day. Protect everything that you have invested by making sure you have the right types of business insurance coverage.

General Liability For Wood Product Manufacturers

General liability is an all-around broad level of business insurance that covers a wide variety of potential risks and hazards. It protects your business from suffering financially when customers sustain physical injuries or make legal accusations against your company for accidents and mistakes. General liability expands its protection automatically if you add new locations, products or services. General liability protects you in several important ways:

General Liability Insurance Includes:
  • Premises Liability – Premises liability is the section of your general liability insurance policy that protects you from lawsuits and financial strife if accidents happen at your wood product manufacturing company. When customers or visitors are on your business premises, the consider it your responsibility to ensure their safety. If an accident arises that causes physical harm to a customer, they may sue your company for damages. Premises liability insurance pays for those injuries, medical bills and related damage expenses.
  • Products Liability – As a wood products manufacturer, you work hard to make sure you product high quality, safe products. Mistakes happen sometimes however, and this can cause big problems for your company. If a defective product causes physical injuries or property damages, your customers will sue your company. Products liability insurance pays for medical bills that arise due to the injuries, and it pays for repairs to personal property. It can also pay for your company’s legal defense costs.
  • Completed Operations – Completed operations insurance protects you when customers sue you after your services have been rendered. If, for example, a retail store account feels that your company caused them losses because of a change you made in manufacturing one of your wood products, they may sue your company for those losses. Completed operations insurance helps pay for your litigation expenses, and pays for damages, loss or other related settlements.

Business Owners Policy For Wood Product Manufacturers

A business owners policy (BOP) protects your business assets while also providing you with general liability coverage. This commercial insurance directly protects against losses of intangibles, such as the company payroll, and physical assets such as your product inventory. You can pick and choose specific types of coverage in a BOP, such as:

  • Buildings and Contents
  • Business Income and Extra Expense
  • Electronic Data
  • Newly Acquired or Constructed Buildings
  • Employee Dishonesty Coverage

Commercial Auto Insurance For Wood Product Manufacturers

Business auto insurance protects your company when someone must drive for business reasons. If an employee causes an auto accident that physically injures someone, your policy absorbs most of the financial impact. Varying levels of coverage also protect you from financial losses caused by roll over events, hit and run accidents or underinsured motorists if you choose.

Workers Comp For Wood Product Manufacturers

Workers comp insurance is required business insurance by law. This coverage protects the employees of your wood products manufacturing company when they are injured in an on the job accident. Workers comp coverage pays for the employee’s medical bills and related recovery expenses caused by the accident.

Commercial Umbrella For Wood Product Manufacturers

Commercial umbrella policies give you added layers of protection against severe events. If you reach the maximum coverage limits on your other policies, this one can provide you with extra.