Whatever you manufacture in VA, NC, MD, WV, and Washington D.C., small business manufacturing insurance protects the unique risks you face.
Protect the products you make and distribute.
If you make and distribute products, standard business insurance might not be enough. A dedicated manufacturer insurance policy may cover the specific risks you face, by including product defect insurance leaving you free to concentrate on your business.
Coverage every manufacturer needs.
There are certain coverage options in your manufacturer insurance policy that are beneficial for most small businesses in the industry. But then they are unique coverage options that exist for:
- candle manufacturing insurance
- food manufacturing insurance
- chemical manufacturing insurance
- cosmetic manufacturing insurance
- metal manufacturing insurance
- boat manufacturer insurance
- insurance for medical device manufacturers
- insurance for pallet manufacturers
- food and beverage manufacturing insurance
- plastic manufacturers insurance
- beverage manufacturing insurance
- and more.
They may protect your business from the unexpected risks you face on a day-to-day basis, whether it’s the production of the products, or shipment of them.
What does manufacturers’ selling price mean?
A key policy point to look for is a manufacturers’ selling price clause. This means that if your stock is damaged or destroyed by a covered event, you may get a payout reflecting the price you would have sold the items for—not the price you paid for the raw materials.
The benefits of manufacturers errors and omissions insurance.
You should also look for manufacturers errors and omissions insurance. This goes beyond the usual business insurance that protects you against claims of property damage and injury caused by your products. It adds coverage for claims of financial losses. For example, if your customers say their business was hurt by a fault in your product, your manufacturers errors and omissions insurance may help protect you from that claim.
Be prepared for potential product recalls.
Also consider product recall insurance, which kicks in if you’re forced to recall a product because it might cause harm. This insurance covers not only the costs of getting the product back to you but also safely disposing of the stock. Some policies may even cover legal costs or public relations expenses.
Consider covering your business with manufacturer insurance. Speaking with manufacturing insurance brokers like Barnes Insurance Group you’ll have the opportunity to discuss the manufacturing insurance cost for your business needs.