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Although the insurance needs will vary by the type of manufacturing being performed, generally most manufacturers will require the following coverages:
Commercial General Liability – protects your business from damages caused by bodily injury or property damage to others for which your business is found to be legally responsible for. This will include both on premises, such as a slip and fall, or off premises to cover work performed at a customer’s premises.
Products Liability – can usually be included with the Commercial General Liability coverage. It will cover you for any product that is sold or even given away, if a third party is injured due to a defective or faulty product.
Commercial Property Insurance – coverage can be purchased to cover your building, if owned, along with the business furnishings, equipment, parts, and inventory.
Production Machinery Breakdown Coverage – an unexpected breakdown can be costly. The usual commercial property coverage does not cover breakdowns, but this coverage can be added which will cover the cost of repair to the production machinery in the event of an unexpected loss.
Business Interruption Coverage – a loss to your heating, air conditioning or refrigeration equipment can have a serious impact on the business operations, possibly even resulting in a shut down. Equipment Breakdown coverage can provide the financial means necessary to provide quick repairs to get you back up and running as soon as possible.
Recall Insurance – the cost to a business to recall a product that is discovered to be defective can be extensive. Recall is carried out voluntarily due to protect the public from products that may present a risk of injury. This coverage can respond to the costs of notification, reimbursement, and the value of the product that must be destroyed or repaired as a result of the recall.
Our commercial insurance professionals are here to help you find the best coverage to fit your specfic insurance needs. Contact us today to find out more.
Payment plans are available for all commercial policies