Does Your Company Have Adequate Manufacturers Insurance?

Does Your Company Have Adequate Manufacturers Insurance?

Orlando, FL, manufacturers insurance

Manufacturers face legal risks that companies in other sectors don’t. To manage these effectively, manufacturing business owners purchase comprehensive insurance protection. To be sure you have enough Orlando, FL, manufacturers insurance, you must explore three areas of protection: equipment, customers, and owners.

Is Your Equipment Covered?

Manufacturers rely on equipment to produce their products and make money. If equipment breaks, a manufacturer’s entire business model might be in jeopardy. Accordingly, when evaluating the adequacy of your insurance coverage, you might consider whether you have the following protection:

  • Business Interruption Protection
  • Warehouse Insurance
  • Utility Continuity Coverage

Are Your Customers Covered?

If your product injures your customers, you might find your business the subject of an extraordinarily expensive lawsuit. Accordingly, you likely want to be sure you have the following insurance to protect you from customer legal claims:

  • Products Liability
  • Product Recall
  • General Liability

Are You Covered?

Finally, for adequate coverage, manufacturing business owners must manage potential claims against them in their official capacities. Generally, diligent business owners consider the following coverage:

  • Directors and Officers Liability
  • Employment Practices Liability
  • Manufacturer Errors and Omissions Coverage

Determining whether a manufacturing company has adequate coverage is often difficult for business owners. Instead, smart managers often work with skilled insurance agents to analyze business needs and purchase comprehensive coverage.