Searching for business insurance can be a daunting task for manufacturers. In fact, the search phrase “Orlando FL manufacturers insurance” will yield many results with similar coverage types. Below is a simplified list of coverage options that are typically offered and why they’re important for your business.
There are fundamental insurance coverages that are recommended for almost all businesses. General liability keeps your business protected if an employee causes damage to your property or injures someone else while working. Commercial property reimburses the costs if your equipment or property (including data) is damaged, lost, or stolen. Workers compensation covers your employees in case of injury or death while performing business-related activities.
There are lesser-known coverage options that can provide additional coverage against lawsuits and other losses. These include:
- Business Interruption – Covers the loss of income due to a disaster striking your facility as opposed to the facility itself.
- Equipment Breakdown – Covers the equipment repair costs as well as business income loss caused by equipment failure.
- Product Liability – Beyond a warranty, it covers any damage or injury your product causes to a customer.
- Manufacturer’s Errors & Omissions (E&O) – Covers instances where a customer or other third-party is injured by your product because of a mistake in design or construction.
Deciding on a carrier after searching “Orlando FL manufacturers insurance” can be a difficult task. Use this list to help identify the right coverage for your organization, narrow your options, and finalize you][r choice.