Obtaining manufacturer insurance for your new business isn’t as complicated as it seems. Even with the potentially confusing verbiage and the number of coverage options available, an understanding the basics of business insurance is enough to help you get started with your search. As you wait to identify the right agent to help finalize your policy, here are some of the more basic coverages that you will likely need to be part of your coverage.
General liability insurance provides coverage for your business in case a third party experiences injuries or property damage as a result of your business activities. Your policy can cover any attorneys’ fees, settlements or judgments resulting from such a case.
Protections provided by your property insurance include your building, equipment, furniture and electronic data. If your property is lost or damaged, your policy can cover the cost to repair or replace the covered items.
Given the risks involved in manufacturing, workers’ compensation is a must-have coverage. If any of your employees gets hurt on the job, your policy will be there to cover any medical or legal expenses associated with the case.
If part of your operations involves driving a car, you will need to also secure commercial auto insurance. Your auto policy will include provisions for liability, collision, uninsured driver and other coverages.
Don’t let the confusing verbiage keep you from diligently working towards finding the right manufacturer insurance for your business. An experienced agent can help customize your policy based on your exact needs.