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Manufacturers have the responsibility of supplying products to the market. And since the manufacturing process doesn't always go to plan - if there are any employee injuries or delays in production - those can be the grounds for a lawsuit or a claim.
And if found to be at fault, the manufacturer might be financially liable and be ruled by the court to pay any compensation, medical and hospital fees, and other costs associated with the incident.
That’s why manufacturing insurance is necessary as if an accident were to take place - the insurance policy will cover the business and its financial liabilities accumulate from the lawsuit.
Which Manufacturers Can Benefit From Insurance?
Generally speaking, every manufacturer in the United States can benefit from getting their business insured. To give you an example, below, we will show you a manufacturing business that can especially benefit from insurance.
Breweries
Breweries: from having to deal with intoxicated customers to having your entire manufacturing facility completely destroyed due to vandalism, theft, or extreme weather conditions - these are some of the risks breweries are exposed to on a daily basis.
For instance, if a visitor falls, trips, or slips and ends up breaking a leg, they can sue your business and claim compensation to cover lost wages, medical and hospital bills, and other costs associated with the accident.
Without manufacturer insurance, your business will have to cover these costs. That’s why getting your brewery insured will provide all the financial cover your business needs in case of an accident that leads to a claim or a lawsuit.
What Insurance Policies Are Relevant for Manufacturers?
Manufacturers can take advantage of a vast number of insurance policies. Typically, the level of cover you need for your manufacturing business will depend on the size of your business, the state you operate out of, the number of employees and company cars you have, and various other factors.
Below, you can take a look at some of the most popular insurance policies amongst manufacturers in the United States: