One thing every business owner knows is that if something can go wrong, it will. For those involved in manufacturing, however, the impact of this ‘something’ can be significant in a way it might not be for other, office-based, businesses. That’s because manufacturing businesses need machinery to operate. They also need factories or warehouses to operate that equipment from.
If machinery breaks, a factory or warehouse is accessible, or manufacturing supplies aren’t available, a business could fail. Which is why insurance for manufacturing plants is essential.
What do Insurance for Manufacturing Plant policies cover?
While manufacturing businesses may be different from office-based ones, the insurance they need is actually very similar. It needs to cover them for:
- Accidents or injuries to their employees where the business can be found negligent (Employer’s Liability Insurance)
- Accidents or injuries to visitors (including customers) where the business can be found negligent (public liability insurance)
- Damage to equipment, including computers and phone systems, required to run the business
- Damage to machinery required to produce goods
- Loss of access to premise used to manufacture products, whether temporary or permanent.
- Loss of access to the supplies needed to manufacture goods.
There will be risks attached to each of these. Some will be higher than others. Where a factory or warehouse is, for example, to increase the risk of flooding, which could reduce access. Whether a business sells direct to customers could increase the risk of accidents to visitors.
Buying Insurance for Manufacturing Plant
A good insurance broker will work with a business to assess these risks and find the right policy or combination of policies to meet their needs at the right price. Which is why, if you are looking for insurance for your manufacturing business, you need to call Just Quote Me for FREE on 0800 084 2325 or get a quote online using their Quick Quote Form.