Whether your manufacturing business does forming, forging, casting, injecting or engraving, working with metals and plastics can be risky. Your work involves tools such as band saws, drill presses and forges which require years of experience to operate safely. Your business faces unique risks and that’s in addition to the typical issues most businesses deal with like property damage or losing important records and files.
Business Owner’s Policy
Most fabricating and manufacturing businesses have a Business Owner’s Policy (BOP). Why? Because it protects your manufacturing business in much the same way a homeowner’s policy protects your home and personal possessions.
By combining three fundamental coverages that are essential to nearly every small business, a Business Owner’s Policy can save you money on insurance rates while safeguarding the manufacturing business you worked so hard to build.
- General Liability – protects your manufacturing business from lawsuits alleging injuries or property damage that occurred as the result of your manufacturing operations. For example, if a customer is injured by one of your machines in the manufacturing process at your workplace or an employee causes damage to a customer’s property, this insurance will help cover the legal fees. Business Liability does not cover liabilities directly arising out of the professional services you may provide, but professional liability can be purchased to cover that as well on a separate policy .
- Commercial Property – protects the establishment where you do business and the machines you use to conduct your manufacturing business, like plastics injectors or molds – whether you own or lease them.
- Business Income – helps cover the loss of income when you can’t run your manufacturing business because of covered property damage.
Contact us for more information or for a complimentary review.