Being in a business of high volume and tight margins can expose you to various types of claims and lawsuits. It is important to protect yourself and your business with specialized liability coverage.
As a Manufacturer and Brand Representative, you have a challenging job. Whether you are making sales calls, visiting new clients or following up with existing ones, it can leave little to no time to think about the risks associated with your business. Almost all manufacturing businesses have the need for basic manufacturing insurance.
Manufacturing Insurance from LG
Whether you’re trying to avoid costly workplace injuries or devastating third-party lawsuits, there’s an insurance policy for you. Commercial coverage is often recommended for manufacturing businesses:
- General Liability Insurance– General Liability Insurance is essential coverage for your business in case of accidents, mistakes, or injuries that may occur, including selling defective products or perishable goods that cause injury to others. This coverage also includes coverage of legal expenses incurred, even if claims against your business are without merit.
- Building and Business Property Insurance– Building and Business Property Insurance will cover the costs to repair or replace your property, including inventory, office furniture or fixtures damaged, stolen or lost.
- Professional Liability Insurance – Professional Liability insurance is also referred to as Errors and Omissions insurance or E&O insurance. This insurance provides coverage in the event that your business is held legally liable for damages and financial loss. Even if your company is not held legally liable, professional liability insurance will cover legal expenses associated with these claims.
- Inland Marine Insurance– This type of insurance helps to protect your business’s personal property if damaged while being transported.
- Business Interruption Insurance– Business Interruption Insurance covers lost income and expenses resulting from property damage or loss. For example, if water damage forces you to close your business for a month, this insurance would reimburse you for salaries, taxes, rents, and net profits that would have been earned during this time.
- Workers Compensation– Workers’ compensation Insurance is required by law in New Jersey. It provides financial protection for expenses related to an employee’s job-related sickness or injury as well as any wages lost during the employee’s recovery period.
We’re here to provide the business insurance that helps protect your needs and business risk while working within your budget. Contact LG Insurance Agency today to speak with our experienced commercial insurance agents about manufacturing insurance in NJ.
The Local Insurance Experts
Working with us gives you a local team of experts that know the intricacies of insurance in Monmouth and Ocean counties and beyond. We understand that insurance is an important part of running your business and it is our goal to help you eliminate risks.