We specialize in Manufacturers Insurance
From product recalls and equipment breakdown, to customer claims of injury or illness due to products you sold to them, you need to know you have the coverage you want for the challenges you face as a Manufacturer.
Walker Insurance is your go-to insurance agency for this type of insurance.
No matter what line of manufacturing you’re in, from food and beverages to metals and plastics, we will help guard your business. Our broad range of coverages protects you from claims due to service interruption, product recalls, and more.
Having worked with local manufacturers, larger corporations, and everything in between, we have the experience and expertise to keep your business, your employees, and your customers safe.
Our protection covers a wide range of manufacturing businesses, including:
- Food and beverage manufacturing
- Metal manufacturing
- Plastic manufacturing
- Printing and publishing
In addition to offering core coverages such as commercial auto, general liability, and property, we also offer coverages tailored for your manufacturing business, including:
- Manufacturing errors and omissions
- Manufacturers selling price insurance
- Product recall insurance
Manufacturing businesses face unique risks that other businesses may not. So as a manufacturing company you require insurance coverage that is specifically designed to protect your business from special liabilities and various other risks, such as loss of income.
Manufacturers insurance covers you with a combination of the insurance protections that are most suitable for manufacturing companies.
Manufacturing Companies Impact on U.S. Economy
- Workers employed by manufacturers in the U.S.: 11.8 billion or 9%
- GDP produced by manufacturers in the U.S.: 1.8 trillion or 12.2%
- Exports by manufacturers in the U.S.: 1.3 trillion or 86%
What Is Manufacturers Insurance?
Manufacturers affect the U.S. economy in significant ways, as they employ millions of workers and produce and export trillions of dollars of goods. As the owner of a manufacturing company, you have much to protect. Manufacturers insurance is your means to protect your workers, business assets and production capabilities.
Manufacturers insurance includes three primary components.
- Business owners insurance (BOP): Protects your business assets and production capabilities from legal claims and business interruptions.
- Workers compensation: Protects your workers in the event of a work-related illness, injury and death.
- Commercial vehicle coverage: Protects the vehicles you use for business purposes.
Protect Assets with Manufacturing Business Insurance
What happens if someone touring your facility gets injured or their property is damaged and they file a lawsuit against you? What if a fire damages your building? If a key piece of equipment breaks down and you have to shut down your operation for weeks or months, how will you carry on?
If you have manufacturers business insurance policy, you’ll be covered. The BOP protects you from the following risks:
- General liability: This insurance protects you when someone slips and falls or sustains some other bodily injury at your place of business, or has damage done to their personal property. If a third party files a lawsuit against you for bodily injury or property damage, your general liability insurance will cover your defense, settlement, or judgment.
- Property: This coverage insures and thus can pay to replace your own property. It includes damage to buildings and your business-related personal property. You can also add an additional endorsement to cover supplies and equipment breakdown.
- Loss of income: Loss of income insurance protects your manufacturing business if it is exposed to a business interruption from a covered event. For example, if your building or equipment is damaged and you cannot continue normal operations, this coverage will kick in to protect you from major losses. You can receive lost net income and operating expenses for up to 12 months.
Business owners policies also offer additional coverages to protect you from identity theft risks, negligent employee practices, damage to valuable papers and records and much more.
Protecting Your Employees with Workers Compensation
Workers compensation may be included in your business owners insurance or purchased as an additional policy. It covers an employee who gets injured, sick or dies from a job-related activity. The policy pays for the employee’s medical expenses and covers a portion of their pay if they are unable to return to work right away.
Workers compensation is mandatory in some states based on the number of workers you employ. The particulars of the law vary from state to state, but we can detail the requirements in your state.
Protecting Your Commercial Vehicles
If you use any type of vehicle for business purposes, you need to make sure you also have commercial vehicle coverage. It covers cars, trucks, vans, specialized trucks and trailers, such as tractor-trailer trucks or tow trucks.
Luckily for you, Walker Insurance also specializes in Transportation Insurance also.
Commercial vehicle insurance provides liability coverage in the event that you or your employed drivers injure others or damage other people’s property. It also provides coverage if your vehicles are damaged.
How to Compare Manufacturing Insurance Quotes
Protecting your assets, productivity and income is easy when you have the proper manufacturers insurance coverage. Walker Insurance is ready to help you find the customized manufacturing insurance coverage that covers your unique risks.
Contact our agency today to get affordable manufacturing insurance quotes that fit your business.