As the owner of a manufacturing business, you must ensure that your business is protected against the risks inherent to the industry. One of the ways to accomplish this is to have the right amount of insurance protection. Even though specific offerings will vary across the agencies offering manufacturer insurance in Orlando, here are some of the key coverages that you should plan to include in your policy.
There are many forms of liability insurance, but they all follow the same premise: if a third party sustains any type of loss as a result of your business activities, employees or product, your policy will cover any fees or payments for which you are found liable. Examples of liability insurance include:
- General Liability
- Pollution Liability
- Product Liability
- Employment Practices Liability
- Directors & Officers Liability
Property insurance protects your property in case they become damaged or lost. Items that can be covered include your buildings, equipment, furniture and electronic data. In case of a covered incident, your policy will pay to replace or repair your property.
Employees in manufacturing plants often face great risks. That's why workers' compensation insurance is needed to protect you and them. In case of an accident, your policy will cover legal fees and medical expenses and can even be used to pay your employees' salaries while they're out.
To ensure that you have adequate coverage, find an agency with experience in manufacturer insurance in Orlando. Settling for an inadequate level of coverage can prove to be costly to your business.