lady at businessThe manufacturing industry is an incredibly exciting and lucrative sector in which to own a business. With so many different types of products needed throughout the world, there's a good chance your company fits into its own specific niche with great success.

However, ensuring you have the right type of business insurance policy to protect your company in the event of an incident is unfortunately one of the most overlooked facets to starting a new business. Here are three of the most vital coverage options that your manufacturing company should consider.

Property Insurance

If you are like most manufacturing firms, you probably have some sort of specialized equipment at your business location, or you may own buildings where you make products. But what would you do if there was a fire, theft or some other catastrophic event? How would your company continue to operate if the location you are at suffers major damage?

Having property insurance is critical to keeping your manufacturing business running smoothly. This type of policy helps repair or replace any buildings you own, plus much of your equipment, supplies and inventory. Similar to the policy you probably have on your home, the coverage also typically offers reimbursement for loss of use after an unexpected event.

(NOTE: Vehicles owned by your company are not generally included in your property coverage. In that instance, you would want to speak with your agent about a commercial auto insurance policy.)

Liability Insurance

What would you do if a product your company manufactured injured or killed someone? How would your company be able to react if an end-user, supplier or someone else filed a lawsuit due to an incident involving your business?


Liability insurance is one of the most critical coverages that a manufacturing firm can have. No matter what your company specializes in creating, there is always a chance that an incident may happen — during the sales process or long after. By having an appropriate level of manufacturing insurance for your particular industry, you can protect your business against any possible claims arising from accidental negligence on your part.

Workers Compensation Insurance

The health and safety of your employees is probably already a top priority at your company. However, what would you do if an accident happened that seriously injured or killed one of your workers?

In most states, manufacturing firms are legally required to carry workers compensation insurance. This policy helps employees in the event of an injury while at work or handling business-related tasks. If your company already engages in some sort of workplace safety program, there's a good chance that you qualify for a discount on premium rates.

Of course, these are just three of the basic forms of business insurance that can benefit manufacturing firms. There are policies specific to companies that ship overseas, those that operate in specialty industries and those that need protection against any future product recalls. For more information on how these specialty coverages benefit your particular firm, please contact your local agent.

Is your business covered? Call Buschbach Insurance Agency at (708) 423-2350 for more information on Oak Lawn IL manufacturing insurance.
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