Manufacturers contributed $2.33 trillion alone to the United States economy in the first quarter of 2018, according to data from the National Association of Manufacturers. NAM also found that while the majority of manufacturers operate as a small business, they are also the driving force that’s bolstering the US; for every dollar spent in manufacturing, there’s another $1.89 added to the economy.
There are liability exposures in any type of business, but there are a great deal in the manufacturing sector. All it takes is one moment that can change your business forever, so it’s always wise to be prepared with NJ Manufacturers Insurance. In the event of a lawsuit or a disaster, you don’t want to be left empty-handed. This blog is going to discuss the kinds of insurance that manufacturers should have.
What Insurance You Need
Throughout the years, David G. Sayles has provided premium insurance coverage across New Jersey. Manufacturers have relied on the packages that we offer for a long time. It doesn’t matter what you manufacture; we’ve dealt in apparel, electronics, food, glass, paper products/packaging, plastics and rubber, just to name a few. We have a wide range of shops with access to multiple programs, from startups to companies with difficult product liability risks. Insurance coverages to consider as a business owner, according to Entrepreneur, include:
- Professional liability insurance
- Property insurance
- Workers’ compensation insurance
- Product liability insurance
- Vehicle insurance
- Business interruption insurance
Protections Offered Through Our Program
Through our exclusive programs, we offer standalone policies, package policies and Business Owner Policies (which encompass essential coverages with endorsements or add-ons) that are directly tailored to your needs. When it comes down to risk exposures, David G. Sayles can get the job done efficiently. The coverages we offer are:
- Business interruption
- Contingent business interruption
- Off-premises power failure
- Property (tools and dies) of others
- Selling price coverage
- Employment practices liability
- Workers’ compensation
- General liability
- Product liability/product recall
- Pollution liability
- Business automobile
- Commercial umbrella
- Commercial property insurance
- Equipment breakdown
- Coverage for computer systems
- Coverage for raw stock, finished goods in the shop or in transit
On top of that, we also include long-tail coverages, just in case an illness or injury caused by your product manifests itself into the future. When you have the proper insurance coverage, a business can ensure that they won’t suffer any hardships if a lawsuit or accident happens.
If your manufacturing business is in New Jersey, NJ Manufacturers Insurance is the way to go. David G. Sayles can help make sure that your business prospers. Check with one of our insurance agents to find out what kinds of coverage are needed for your manufacturing business.
About David G. Sayles Insurance Services
At David G. Sayles Insurance Services, we strive to protect the investments of homeowners like you. Our comprehensive policies are customized for you to provide the exact coverage you need. For more information, contact us today at (855) 977-1842.