For manufacturing business owners, it is immensely rewarding to see your concepts transformed into unique, high-quality products your customers will love. But that reward doesn’t come without risks. Daily operations of manufacturing businesses can carry hazards to employees, owners, and customers. Fortunately, these risks may be alleviated through proper restaurant insurance coverage.
If you own a small manufacturing business, your workers can face hazards such as slips, falls, sprains, and repetitive stress injuries. Your customers could become ill from contaminated or improperly handled food or products. Your establishment could be damaged due to fire or catastrophic weather. And you could be held liable for all of these damages.
However, when you carry the right types of restaurant insurance, your customers, employees, and small business may be covered.
What types of insurance does a small manufacturing business need?
General liability insurance helps protect your manufacturing business against third-party claims that involve property damage, bodily injury, or advertising injury.
Business Owner’s Policy
A BOP is bundled insurance that may include business interruption insurance, property insurance, and liability coverage for your manufacturing business.
Cyber liability insurance helps cover your company for events such as a data breach in which your customers’ or employees’ personal information or your company information is stolen or held hostage.
Additional Manufacturing Insurance Options
Additional coverage options such as errors and omissions insurance or product recall insurance may be built into your business owner’s policy or purchased separately.
What are examples of manufacturing industry risks and the manufacturing insurance that may cover them?
Selecting small business insurance can be confusing. Here are some sample scenarios to point you in the right direction. We recommend consulting with a trusted advisor to make sure you get the right types of coverage for your business.
Who needs manufacturing insurance?
Businesses including niche manufacturers and small factories that produce goods should have adequate manufacturer’s insurance. This includes:
- Textile manufacturers
- Furniture makers
- Leather workers
- Candle makers
- Paper and particle board manufacturers
- Plastic manufacturers
- Polish, wax, ink, oil, and grease manufacturers
- Food product manufacturers
- Metal product manufacturers