Customized coverage. Optimized operations.
At the heart of manufacturing insurance lies a suite of individual insurance coverages. While insurance costs and needs will depend on the specific exposures and requirements of your business, manufacturer insurance offers a layer of protection in an industry with heightened levels of risk.
A manufacturing insurance package may include policies like general liability, commercial auto, property and equipment breakdown, along with more specialized coverages like product liability insurance.
Higginbotham’s manufacturing insurance caters to a broad spectrum of companies, including businesses like:
At Higginbotham, our services go beyond just securing coverage. Our approach to insurance involves understanding your needs and providing solutions to help effectively address them. And, as one of the largest independent insurance brokers in the nation, our deep carrier relationships enable us to get things accomplished for your manufacturing business that others can’t.
For businesses in the manufacturing industry, securing key insurance coverages is imperative. These individual coverages may include:
Commercial general liability insurance (CGL) is a fundamental coverage for manufacturing businesses, as it can provide protection against claims of bodily injury, property damage and personal injury caused by your business or your employees. This insurance coverage can help shield your business from financial losses incurred as a result of such claims and offer greater peace of mind in the face of challenges.
Equipment breakdown insurance is a vital coverage for manufacturers, as it helps safeguard you from the financial repercussions of repairs or replacements of malfunctioning machinery and equipment. This form of business insurance coverage is designed to keep your manufacturing business operating, even in the face of unexpected equipment issues.
Commercial property coverage offers protection for various owned or leased physical assets like buildings, equipment and machinery, inventory and furniture. This coverage helps ensure that your business is able to financially recover and continue operations in the event of property damage or loss.
Product liability insurance is an important coverage for businesses that manufacture or sell products, as it helps protect you from claims alleging that your products have caused harm or damage. This type of insurance helps protect manufacturing companies from potential legal action and financial losses by helping offset costs associated with product-related claims, lawsuits and damages brought against the manufacturer or seller.
Workers’ compensation insurance is a vital coverage for businesses with employees. Workers’ comp offers financial assistance for eligible expenses for employees who sustain injuries while working. Eligible expenses may include medical bills, ongoing care, rehabilitation programs and lost wages. But, workers’ compensation is not just a means of protecting your business and your employees: in many states, it’s a legal requirement.
Errors & omissions (E&O) insurance is a specialized form of professional liability coverage that can offer protection for professionals who provide advice or services, should an error occur during the course of their services. E&O coverage can help shield businesses and employees from allegations of negligent or incomplete services, offering financial support in the face of potential legal challenges and claims.
Business interruption insurance is an essential coverage for manufacturing businesses, providing financial assistance for lost business income resulting from an insured property loss. This insurance can help your business cover the costs associated with core business functions like:
Inland marine insurance is another crucial form of insurance for manufacturers, especially those that transport goods or have equipment that frequently moves from one location to another. This type of insurance is designed to protect products, materials and equipment while in transit over land, such as by truck or train, or while temporarily stored by a third party. Particularly for manufacturing businesses, inland marine insurance can help fill coverage gaps in a traditional commercial property insurance policy.
At Higginbotham, we don’t stop adding value to your business after we’ve placed your coverage. Through our Day Two Services®, we continue to stand by your side day after day. These proprietary services include risk management and technology, certificate validation, safety and loss control, contract review and claims advocacy. Our commitment to these ongoing services exemplifies our dedication to the long-term success and resilience of your manufacturing business.
Learn why Zoeller Pump Company chooses to partner with Higginbotham for its insurance and risk management needs. Through a strategic partnership that goes beyond the conventional client-vender relationship, Higginbotham is helping Zoeller drive success.
Manufacturers face a range of unique risks, such as extreme weather events, supply chain disruptions and other unforeseen occurrences. These risks can cause machinery breakdown, infrastructure damage and a stoppage of manufacturing operations, as well as increased costs, decreased revenue and potentially insolvency. Managing risk and improving safety in the manufacturing industry is critical to minimizing accidents, injuries and other losses such as these. But, it can be difficult to know where to start when it comes to improving your manufacturing business’s loss control and risk management strategy.
That’s where Higginbotham comes in. When you choose Higginbotham as your insurance broker, you’re gaining more than just insurance coverage; you’re gaining a risk management partner. Our team offers a range of safety and loss control programs that are designed to reduce risks and enhance safety in your manufacturing environment. These services include:
At Higginbotham, our know-how knows. We know the business of manufacturing has many moving parts that can threaten your company. That’s why our manufacturing risk specialists have the knowledge and experience to help you prevent and minimize loss, not just cover it.