Business Insurance for Manufacturers
Your success as a manufacturer depends on your ability to consistently produce a high volume of goods on tight margins, no matter what happens in the outside world. Unfortunately, a lot of what affects your work is beyond your control.
For example, what would happen if one of your suppliers was temporarily out of commission? Do you have a backup system (or an adequate cash cushion) to maintain operations, pay your employees, and otherwise keep your business going in the event of an unexpected interruption?
If you have the proper business insurance in place, the answer is yes.
Depending on the specific needs of your business, you can find business insurance that covers losses from storms, fires, theft, disruptions in your partners’ businesses, unexpected lawsuits, and other potentially damaging business events.
Which Types of Manufacturers Can We Cover?
The application at the top of this page offers coverage for many types of manufacturing businesses, including those who produce the following:
- Electrical equipment & machines
- Food & beverages
- Housewares and home / office furnishings
- Media (duplication)
- Metal products
- Molds & industrial patterns
- Plastic products
- Wood Products
If your business doesn't fit into one of these groups, we also have an "other" category. And our helpful staff is on hand over the phone to answer any questions you may have: 800-688-1984.
Which Policies Can Benefit Your Business?
If you're not sure which policies to choose in our application, check out Policy Buddy. This two-minute diagnostic tool translates basic information about your business into your likely insurance needs.
Other Risk Management Tips for Manufacturing Businesses
Of course, insurance alone can't protect any business. Managing and reducing risk goes a long way toward making sure you don't end up in a worst-case scenario. As the owner of a manufacturing business, consider doing these two things to keep your risks low:
- Keep excellent records. Documentation is king when submitting an insurance claim. Whether you need to provide serial numbers for your equipment or prove that it was in top shape when the storm hit, having thorough records will help. Consider taking pictures of your inventory and equipment so you're ready in the event of a claim.
- Have backup channels. If a major supplier or customer gets hit by a big storm, you might be forced to slow or temporarily halt operations. Maintaining relationships with secondary suppliers and multiple customers can help minimize the impact of an unexpected event at any of your primaries.