Why a Manufacturer Needs Insurance Coverage

As with any business, a manufacturer needs to have specialized insurance. This is where Orlando FL manufacturers insurance comes into play. If you’re on the fence, here is why you need manufacturing insurance.

Employee Accidents

Accidents happen. If one of your workers is hurt on the job, you are responsible. Even if you follow all of the strict safety standards, people do get hurt. If you have people dealing with heavy machinery and tools, it usually happens eventually. To have workers compensation allows you to pay wages and damages.

Factory Fire Damage

No one wants to think a fire is going to happen to his or her business, but the truth is, fires can happen to anyone. Every year, industrial fires can cost around a billion dollars in property damage. This is a lot of money and if you are uninsured, a lot of that comes out of pocket. It can completely devastate a business!

Buyer Allegations

Whenever you sell a product or service, you are going to be vulnerable to a claim against you. If someone alleges you didn’t assemble a product correctly or that a product caused an injury, you’re going to have to dispute it. Manufacturers insurance includes professional liability insurance that covers these types of situations.

You never know what will happen with your business. This is why Orlando FL manufacturers insurance is so crucial.