Three Types of Manufacturing Business Insurance

If you own a manufacturing business, there are three types of insurance programs you may want to look into. They are liability, property and workers’ compensation. Making sure you have proper manufacturing business insurance coverage will protect you in case of an emergency or in case you end up in a lawsuit in an industry that could pose certain dangers.

Liability insurance is important because you can’t prevent accidents from happening. This often covers things like slips and falls that happen on your property, errors and omissions, and even foreign liability. Sometimes you will need extended coverage, depending on the type of manufacturing business you own, and an agent can help you determine that.

Property insurance protects the building your business is housed in, as well as the property it is on. This covers the costs if you experience theft, vandalism or a fire. The insurance company typically does an evaluation to determine how much the property is worth, and that is what will determine the amount of coverage you need.

Your employees deserve proper coverage with workers’ compensation. This ensures that when someone is hurt on the job, there are funds to cover medical bills, lost wages and other costs that are related to the incident.

As the owner of your company, it is important to have proper coverage with manufacturing business insurance. Speak to an agent today to find out what type of coverage you need.