Manufacturers Insurance

The manufacturing industry includes a number of different trades, each with varying specialties, skills, and, of course, risks. When it comes to risks, whether you run a textile mill or a corner bakery, you need a business insurance policy designed specifically to cover your business and the items it manufactures. Business insurance can help your manufacturing company get the reimbursement it needs after lawsuits, theft, fire damage, and other incidents.

Fortunately, independent insurance agents are here to walk you through a hand-picked selection of business insurance policies to cover you and your employees. They'll get your company equipped with all the coverage it needs. But first, let’s talk more about the manufacturing insurance protection you need and why you need it.

Who Needs Manufacturers Insurance?

Many types of businesses can benefit from having manufacturer insurance. The manufacturing industry encompasses a broad range of markets, including:

Box and container manufacturing

Commercial and retail bakeries

Coffee and tea manufacturing

Breweries, wineries, and distilleries

Pharmaceutical, medicinal, and botanical manufacturing

Parts and tools manufacturing

Book printing

Petrochemical, industrial gas, and chemical manufacturing

Vehicle and boat manufacturing

Regardless of your business's specific niche, an independent insurance agent can help you find the right manufacturers insurance to protect it.

What Does Manufacturers Insurance Cover?

Manufacturing businesses run the risk of employee injuries, lawsuits, property damage, and losses caused by equipment breakdowns and malfunctions. Fortunately, when you have a business insurance policy tailored specifically for your role in the manufacturing industry, you can help your company avoid financial losses. 

There are several different coverage options you can add to a complete business insurance policy, such as:

• General liability insurance: This covers costs associated with third-party claims of personal property damage or bodily injury caused by your business.
• Commercial property insurance: This covers your business's property, including buildings, equipment, and inventory, against loss due to theft, fire damage, and more.
• Workers compensation insurance: This provides compensation for employees who get injured or ill due to their job or work environment by providing partial wage replacements and covering medical bills.
• Product liability insurance: This coverage is designed to cover the cost of lawsuits brought on by product malfunctions.
• Inland marine insurance: This is designed to cover a business's finished product while it’s in transit to distribution centers.
• Equipment breakdown coverage: This insurance provides coverage for business equipment and machinery damage, repairs, and even rental equipment in case extensive repair times are necessary.
• Business income insurance: This coverage is designed to provide your company with continued income and cover ongoing expenses for up to 12 months or longer while repairs and replacements are made after covered losses.
• Commercial umbrella insurance: This increases your business's existing liability coverage to limits of $1 million or greater to better guard against the cost of expensive lawsuits.

The coverage options that are right for your manufacturing company may vary according to your particular risks and assets. An independent insurance agent can help you assemble a complete manufacturers insurance policy.

How Much Does Manufacturers Insurance Cost?

The cost of your business's policy can depend on a number of different factors. These often include the following:

• Business size and location
• Business niche
• Number of employees
• Prior claims history
• Amount of coverage and deductibles

A local independent insurance agent can help you find the most affordable manufacturers insurance near you.

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Here's How an Independent Insurance Agent Can Help

Independent insurance agents excel at matching the most appropriate policy to the business's needs. These agents shop and compare insurance quotes for you and will provide only the results for policies that offer the best blend of coverage and cost. And down the road, your agent can help you file business insurance claims or update your coverage as necessary.