Manufacturers face various exposures that need to be analyzed and addressed in their risk and insurance programs.
Whether in the steel industry or printing and publishing, Mason-McBride can and will help protect your business.
We can help design a program that protects against incidents like equipment damage, workers comp, product recalls, and other risks that are unique to manufacturers.
What is Covered in a Manufacturing Insurance Policy?
There is a risk of injuries, lawsuits, and property damage with any business. However, there are several coverage options that you can add to your Business Insurance policy to protect your business.
Notable exposures currently getting attention in the marketplace are:
General Liability Insurance:
General liability insurance can help protect your business against claims for bodily injury, property damage, advertising injury, errors, or omissions. In addition, without this coverage, you may be responsible for paying out of pocket for legal costs, such as attorney fees and settlement amounts.
Professional Liability Insurance:
Also known as Errors and Omissions (E&O), professional liability insurance can help protect your business from consequential loss resulting from negligence claims associated with your professional service. Professional liability claims involve allegations whereby the customer alleges they lost revenue or incurred expenses because of the negligent rendering of professional services.
Workers Compensation Insurance:
Worker compensation insurance gives employees benefits to help recover from work-related injuries or illnesses. It can also benefit your employee's families if they lose their lives in a workplace accident. Different factors, such as job risk, claims history, and payroll size, can affect workers' compensation costs.
Commercial Umbrella Insurance:
Commercial umbrella insurance extends the coverage limits for some of your liability policies. So, if a claim exceeds the limits on your policy, your umbrella insurance can help cover the difference.
Business Property Insurance:
Business property insurance covers equipment, signage, inventory, and furniture in the event of a fire, storm, or theft. However, it doesn't cover mass-destruction events like floods and earthquakes.
Cyber Liability Insurance:
Cyber liability insurance helps your business respond to a data breach if personally identifiable information gets lost or stolen. In addition, many policies will include extortion coverage, business income protection, and systems failure, all caused by a breach.
Insurance for Manufacturing
You risk employee injuries, liability lawsuits, property damage, equipment failures, and malfunctions whenever you run any manufacturing business.
Fortunately, your company will likely avoid unnecessary financial losses when you have a business insurance policy tailored specifically for the manufacturing industry. Coverages can be put into place for your business's specific needs.
Our professional team can help you navigate the insurance marketplace and conduct a risk review. We advise not waiting for an event to audit your program and make necessary adjustments.
Why Work With Mason-McBride?
As a locally-owned Michigan business, our clients are at the core of everything we do. We are committed to providing superior customer service and personalized advice and counsel.
Mason-McBride has partnered with a select group of reputable insurance companies to offer premier business insurance coverage at a price your company can afford. Our commitment is to work with you as a long-term partner and provide the expert counsel you need to make an informed decision based on your overall business strategy.
Among the reasons we differ from the competition is our ability to service our policyholders proactively. But, again, this is because of our knowledge of the industry, products, and the different situations that may arise.
Business Insurance for all Michigan Cities
Not all companies are the same. When choosing one, it's essential to work with one you trust and can rely on. We have over 100 years of experience helping small business owners protect their companies with coverages like general liability insurance. Our business insurance policies can be customized for any Michigan city, including, but not limited to:
- Royal Oak
- Auburn Hills
- Sterling Heights
- Rochester Hills
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