Manufacturers come in all shapes and sizes, from one man bands to some of the biggest organisations in the world!
Whilst the risks can vary greatly in size, most of the same risks apply, it is just the scale that is different.
That said, some products are very specialist, such as the manufacture of aviation products and components and for these, specialist insurance covers are required.
If your products are exported overseas, you will also need to make sure that your liabilities are adequately covered, especially if your products are destined for North America.
All manufacturers will need to protect their assets but there is a lot more to think about and expertise is definitely required!
What should a manufacturers insurance policy cover me for?
- Protection for the loss of buildings including accidental damage
- Protection for contents and stock including theft
- Liability cover such as product, public and employers liability
- Specialist niche covers (e.g. Aviation cover)
- Business interruption cover, including cover due to damage at your suppliers or customers premises
- Goods in transit protection
- Legal expenses