Manufacturing Insurance

Manufacturing Insurance Coverage

Manufacturers insurance is sometimes also called industrial insurance or factory insurance. Manufacturer insurance offers coverage that is specific to manufacturers based on their product or industry focus. Typically, industrial insurance includes commercial general liability, property insurance (including both commercial property and equipment), errors and omissions, losses due to production delays or holds, and workers compensation.

Insurance for Manufacturers

Insurance for manufacturing companies can also include manufacturing business insurance. If you are looking for business insurance for manufacturers, be sure to specify whether you are looking for a standalone professional liability policy, or whether you are looking for a comprehensive insurance package to include coverage for all aspects of your manufacturing operations.

A general liability policy alone may offer insufficient coverage based on the type of products and manufacturing activities that are part of your business.

Insurance for Manufacturing

An industrial insurer should offer a manufacturer insurance policy that includes the following types of coverage: workers compensation insurance, commercial auto insurance, commercial property insurance, business income insurance, and loss of income insurance. Learn more about important insurance policies for manufacturing companies below.

Manufacturing Liability Insurance

Manufacturers liability insurance may refer to commercial general liability insurance for manufacturers, as well as product liability insurance. Manufacturer liability insurance may include these coverages in one policy, or it may include them as separate coverages within a single package. Regardless of how a policy packages these coverages, liability insurance for manufacturers should include both general property liability and product liability insurance.

Workers Compensation Insurance

Workers compensation insurance helps to protect a manufacturing business in the event of claims that arise from loss or injury to workers. While prevention is always a manufacturers first responsibility, workers compensation insurance can help a manufacturer to manage the legal expenses that may arise from workers injury cases.

Commercial Auto Insurance

If your business involves transportation of goods or products via truck, it is likely that you will need commercial auto insurance. If your commercial auto insurance needs are above certain thresholds within your state, you may need to obtain Excess Auto Liability insurance. Ask your Guardify representative about the possibility of combining policies to obtain the best rate.

Do any of your employees or contractors use company vehicles for certain activities?

Make sure that all of these vehicles, drivers, and activities are properly covered under a commercial auto insurance policy.

Commercial Property Insurance

Commercial property insurance covers the property location, building, and in most cases equipment of your factory or manufacturing site location from covered losses such as fire, vandalism, or theft. In certain provisions of commercial property insurance water damage may also be included.

Business Income Insurance or Loss of Income Insurance

Business income insurance is also called loss of income insurance. Loss of income insurance helps to protect your business in the event that your business is unable to generate expected profits due to a covered business interruption. For example, if a windstorm damages your property, and your business is unable to operate until this damage is repaired, your business may be at risk of losing income during this time. Loss of income insurance can help to keep your expenses covered during this temporary shutdown.

Product Manufacturing Insurance

Manufacturing insurance companies typically offer coverage options for product liability insurance. A product defect may not become obvious until after a product has left the factory and is in the hands of an end-customer. Product liability insurance can help to cover your business expenses in the event of a recall or in managing claims that arise from product failures, product defects, or improper labeling. Product liability insurance cost may vary depending on the type and value of products manufactured, as well as the scope of product liability coverage requested.

Types of Manufacturers

Manufacturing insurance can cover many industry categories, including but not limited to the below options:

Metal manufacturing insurance
Machine shop insurance
Food manufacturing insurance (Insurance for food manufacturers can include food processing insurance, or a combination of food and beverage manufacturing insurance)
Beverage manufacturing insurance
Insurance for wood manufacturers
Food and beverage manufacturing insurance
Cosmetic manufacturers insurance
Fabrication shop insurance
Firearms manufacturer insurance