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manufacturer insurance in Orlando

What To Know When Searching For Coverage For Your Business

Are you searching for a manufacturer insurance in Orlando? Before you get started, here are a few pointers to help you make the best decision for your organization.

Get Coverage For Your Employees

Most states require that you carry workers compensation insurance. If an employee is injured while on the job, rather than the business being exposed to a lawsuit, any missed wages or medical treatment will be covered under workers compensation. Even if your state does not require it, you should sign up for this coverage anyway.

Get Coverage For Your Entire Business

You should get general liability coverage to keep your business protected against any lawsuits from your employees or anyone else. These coverages include property damage, which protects your property in case it’s damaged by one of your employees, and bodily injury, which covers your business in case an injury or death to a third party is caused by one of your employees.

General liability coverage not only covers the medical bills, but also covers any legal fees that may arise from such incidents.

Get Coverage For Your Property

You can get insurance for any physical equipment or structures with commercial property insurance. Whether it’s data loss, theft or any other forms of property damage, you will be covered with this type of insurance.

Now that you know the basics, you can make better sense of your options when you search for manufacturer insurance in Orlando.

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manufacturer insurance in Orlando

Coverage Choices for Manufacturing Facilities

The manufacturing industry needs to be suitably protected against the various hazards that take place in this line of work. There are so many different risks and exposures that many companies face daily during normal operations. The manufacturing of goods is an essential part of our nation’s success, with many products made in the US being shipped abroad.

 

If your company is responsible for producing metal, plastic or rubber goods, this encompasses a large portion of the goods created and distributed to companies and consumers worldwide. Therefore, you need to protect your business interests with manufacturer insurance in Orlando as part of your overall liability insurance coverage.

 

Insurance products essential to most manufacturers

 

Most businesses in manufacturing start with a comprehensive general liability (CGL) insurance policy that contains multiple coverage parts. You need to have coverage in place for product liability (most CGL policies include separate Products Liability and Completed Operations coverage). When purchasing insurance you might be concerned about the cost of coverage, but more importantly, what the policy actually provides in the form of protection. It helps to have a thorough understanding of what your products liability exposure is in order to decide exactly what type of coverage you need.

 

Since you have employees who perform most of the work, workers compensation coverage will be required. This policy exists to assist workers with medical expenses and work-related injury payments and helps to eliminate additional litigation against the business owner.

 

Another concern for most companies with workers using vehicles as part of their job duties is auto insurance coverage, which will protect your firm from any kind of auto related liabilities. This is needed for companies that use employees to deliver goods to businesses or warehouses.

 

Another oft-purchased policy is an umbrella or excess liability protection that adds additional limits for large, third party claims. Exposure to larger losses can easily be underestimated, and most businesses can’t afford to go without coverage in the event they are faced with a large judgment or settlement they’re required to pay.

 

Speak to an agent who understands the needs of this industry and can help to provide you with manufacturer insurance in Orlando for your many concerns, including the building, business personal property, property belonging to your customers, business income and many other key coverages, all of which are designed to protect you, along with your assets.

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