Finding the right insurance for manufacturers in your area can be a time-consuming task. There are companies that offer coverage for everything from product recalls to crime. While your options are abundant, there are a few basic coverage options that you should know about.
Inland Marine Insurance
Inland marine coverage is good for manufacturers who need to ship goods either locally or across the country. If your goods get damaged while they’re in transit, this type of insurance will cover your losses.
General Liability Insurance
This is the most basic type of insurance coverage and includes bodily injury and property damage. Bodily injury covers incidents when a non-employee gets injured or dies because of one of your employees or products. Property damage coverage protects your assets if your property or your customer’s property is damaged by one of your employees.
Commercial Property Insurance
Commercial property insurance is intended to provide protection against loss of property. Stolen property, damaged property, and even the loss of income associated with these incidents can be covered under this type of insurance. If you have property that’s needed to accomplish your business activities, you should have it covered.
Workers Compensation Insurance
Known by even non-business owners, workers compensation is a must-have to protect your business assets against lawsuits due to employee accidents in the workplace.
There many providers of insurance for manufacturers in your area. Be sure to do your research before making a final decision.