What is Manufacturing Insurance?
Businesses in the manufacturing industry face major risks and need to be protected. Manufacturers insurance protects your business the same way other policies. In case of emergency, manufacturing coverage will insure you in event of property damage, an injured employee, lost income, and legal issues like litigation. Don’t allow one situation to completely bankrupt your business. When it comes to manufacturing products, you’re going to need a policy that effectively keeps you covered at an affordable rate. At Sure Trust, our team of brokers will assist you in finding policy suited to your business. That way, less time can be spent worrying the cost of potential accidents and more time can be spend building a better business.
Manufacturing insurance includes:
Business Owner’s Policy
If you own a manufacturing business then are you are going to need a Business Owner’s Policy (BOP). A BOP provides you with a complete package consisting of primary three insurance policies: Business liability, business property, and business income.
If an employee is injured on the job, worker’s compensation will provide them with an income until they are able to return to work. In addition to this, worker’s compensation also cover medical costs incurred as a result of a work-based injury. This helps to avoid litigation and other legal disputes.
Liability insurance is for coverage involving legal disputes and litigation (Lawsuits). This form of coverage will cover lawyer and settlement costs, as well, as additional legal fees. This prevents your business from losing income in the event that your business faced with negligence.
In the event that your property or equipment, property damage coverage will provide the money necessary for repairs. This can help prevent business interruption over long periods of time.
In the event that you are unable to effectively manage your business because of covered property damage, this policy will reimburse you for income lost while repairs are being made.
For additional questions don’t hesitate to speak with a Sure Trust Insurance Professional today!