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The manufacturing industry includes a number of very different businesses, each with varying inherent risks and coverage needs. Whether you own a textile mill or the corner bakery, you need a business insurance policy designed specifically to cover your business and the items it manufactures…
When you are running a manufacturing business of any type, you run the risk of employee injuries, liability lawsuits, property damage and losses caused by equipment breakdowns and malfunctions.
Fortunately, when you have a business insurance policy that is tailored specifically for the manufacturing industry, your company is likely to avoid undue financial losses. Here at First Underwriters, that is exactly what we scour he market for.
Textile Insurance Coverages
Insurance exists for the purpose of protecting persons and organizations from the adverse financial consequences of certain unpredictable events, regardless of the coverage line being considered. For general liability insurance, the unpredictable event that constitutes the subject of the insurance is a claim of legal liability arising out of a company’s operations, premises, products, and completed work.
Commercial property is the policy that an organization purchases to pay for damage to its own buildings and the personal property in them. A commercial property policy can also cover loss of income or increase in expenses that result from insured damage to buildings and their contents.
Whether your business is producing automobiles or doughnuts, if there is a problem with its design or production that causes other to become sick or injured, you may be sued for liability charges. This coverage is designed to cover you against lawsuits brought on by product malfunctions.
This is designed to cover your finished product while it is in transit to distribution centers.
When vital manufacturing machinery or equipment breaks down, it can lead to large financial losses. This insurance provides coverage for maintenance and repairs, as well as rental equipment, in the event that extensive repair times are necessary.
If a covered event, such as a tornado or fire, forces you to temporarily halt production, your business stands to lose a lot in income. This coverage is designed to provide your company with continued income for up to 12 months while repairs and replacements are made.