Manufacturers Insurance

The complex operations that are involved in running your company constantly puts you at risk. You face many challenges each and every day that are completely unique to the type of work that you do, which means the risks to which you are exposed can vary drastically according to the nature, scope and size of your business.

Addressing the Unique Risks of Your Industry

Before you will be able to purchase an insurance policy with complete confidence that you are getting the best possible coverage for your manufacturing business, you must first understand the risks that are unique to your industry.

First, there is the risk of loss or damage to your raw materials or inventory. If your company keeps a sizable inventory, whether it is of finished products, goods in process or simple raw products, you cannot afford any type of loss. Theft, fire and natural disasters can happen at any time, destroying warehouses full of goods. Therefore, you need to be prepared to recoup such loss.

Then, there is the damage or breakdown of the machines that you use to conduct your business. A mechanical breakdown can cost your company a great deal of time and money in replacements and repairs. In addition, in some cases your operations will come to a complete halt, which will be a significant burden on your business finances.

Finally, you must worry about liability claims. Claims that can come from your employees if they are injured on the job or if someone is injured while visiting one of your warehouses. Even after the products have left your warehouse, you could still be held responsible if one of the products that you manufacture injures, sickens or kills one or more of your customers.