No matter what line of manufacturing you’re in, food and beverage or metals and plastics, you have risk exposures that could cripple your company.
A manufacturing business faces challenges from product recalls and equipment breakdown to customer claims of injury or illness due to your products. A carefully designed Manufacturing Insurance package through Holden Insurance will cover the risk exposures you face as a manufacturer. If you are a small manufacturer, the most cost effective way to provide basic insurance protection is with a Business Owners Policy or BOP. The BOP will provide liability and property insurance and usually includes additional coverage like Business Income and Extra Expense Insurance, both vital to your business. Larger manufacturers will benefit from a commercial package policy that can be custom designed to pick up the unique exposures for your manufacturing business.
Protection for Your Product
One of the most important liability coverage in a manufacturing insurance package is Products-Completed Operations. This coverage provides legal defense and payment of damages in the event there is a lawsuit charging that a product you manufactured injured the claimant. Most package policies exclude coverage for pollution or environmental damage and must be added through endorsements or a separate policy.
The manufacturing insurance package can include coverage forms such as a business auto policy to provide protection for vehicles owned by your business or workers compensation insurance to protect your employees. If you are in the business of manufacturing alcoholic beverages, then you need to cover this exposure through liquor liability insurance. Understanding the exposures to risk your manufacturing business faces is key to developing a complete insurance portfolio.
We understand that you may have questions about the options available. We invite you to speak with one of our commercial insurance specialists. They can walk you through the insurance shopping process so you can make an informed decision about the manufacturing insurance protection that is right for your Vermont company. Request a free insurance cost review today!
