What Is Manufacturers Insurance?

What Is Manufacturers Insurance?

Manufacturers Insurance?

The purpose of insurance is to protect your business from financial loss when theft, injury and damage occur. Manufacturers insurance provides such protection as it pertains to your specific industry. Here are some types of insurance that manufacturing companies always need.

General Liability

General liability is a broad type of insurance that protects you when anyone on your premises suffers an injury, breaks into your structures or damages your assets. Costs associated with medical bills, legal fees, loss of revenue and property repairs or replacements are included in the insurance plan.

Property Insurance

Property insurance supplements general liability and can include:

Assets you own that arent physically on your premises
Inventory and supplies that are in transit to and from your business
Loss of revenue due to utility disruptions
Internal criminal activity and employee dishonesty

To protect all your on-site and off-site assets, you need property insurance to cover the costs of damage, replacement and loss of revenue.

Equipment Breakdown

When your equipment fails and your production lines stop, equipment breakdown insurance helps repair electrical wiring, replace broken parts and correct operator errors. This type of insurance can be tailored to your specific equipment needs.

How to Get Covered

Talk to your provider about the types of manufacturers insurance that apply to your business. Review all your options and select the best plan that fits your needs.