Making a product and getting it distributed can be a challenge. Just like a piece of machinery, the process of creating and delivering a product has a lot of moving parts. As you manage this complex process, you may need a partner to help you with your company's insurance needs.
Your manufacturing business may require a significant investment of capital. You use those dollars to purchase or lease space and to buy machinery, equipment, and computers. If you handle your product's distribution, you may also invest in warehouse space and trucks and vans to deliver your product.
You can obtain business property insurance to protect all of these assets against damage, vandalism, or theft. This type of policy can also cover inventory. If your facility experiences flooding, fire, or other events, a property insurance policy may provide coverage.
On the Factory Floor
You hire several employees to handle your production, including running machinery or moving materials around the factory floor. Other workers may package your product and prepare it for shipment. You may also employ people to load trucks and make client deliveries.
Many states require businesses to carry workers' compensation insurance. The policy pays benefits to workers who are injured on the job and cannot work. This type of policy may produce an income and also cover medical expenses. You can also look into employment practices insurance. This policy may provide coverage for legal issues related to wrongful termination, discrimination, and harassment.
Many factors can impact the production and sale of your product. Equipment breakdowns can stop production. If you have a product recall, you may incur time and expense to fix the product and return it to customers. A weather event may also stop your production process. A business income policy can cover some of these events that force you to stop production. The insurance policy may cover your operating expenses and payroll while you get up and running again.
You may store sensitive information about your clients on company servers, subject to a cyber attack. A business liability policy can protect you from legal actions related to a cyber breach.
Fusco & Orsini can help you sort through all of your insurance issues. They can put together a plan to address your manufacturing insurance concerns.
How to get started on your quote
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