The complex range of risks associated with working in manufacturing, means that the right insurance solution designed for your business is essential.
As a manufacturing company you need to ensure your assets and liabilities are safeguarded against potential risks. Companies that operate in heavy industries require specialist insurance cover that is not provided by standard business policies and manufacturing insurance can provide the solutions you need.
Manufacturing insurance ensures your manufacturing business has the right level of financial protection against a variety of risks your organisation may be exposed to. A manufacturing insurance policy can incorporate a range of covers, including employers’ liability, buildings and contents insurance, public and products liability, business interruption and much more.
Whether you export or sell locally, you will have a need for manufacturing insurance. Not all types of manufacturing insurance are legally required, but some are, so it is important to have these policies in place to ensure you remain compliant.
Sometimes, through no fault of your own, unexpected events can occur that lead to financial loss. This can be anything from faulty machinery to a fire outbreak in your facility. Manufacturing insurance enables your business to transfer these risks to an insurer in exchange for a competitive premium.
At Horner Blakey we never provide our clients with standard policies. Instead, we connect you with some of the UK’s largest insurance firms to build a cost-effective industrial insurance policy that is tailored to the needs of your business.
Manufacturing insurance covers a host of different options, which are influenced by the type of business you run and the type of protection you need to have in place. Some of the most common types include:
If your business employs staff, you are legally required to have employer’s liability insurance. It gives you protection if anyone is injured or falls ill while working for you.
In the event your business causes illness, injury or property damage, public liability insurance can give you the cover you need.
Manufacturing tools and equipment can break down at any time and this type of insurance can give you financial security should you experience any problems.
Should an unexpected event prevent your manufacturing premises from operating, having business interruption insurance in place can give you more security.
Most quotes tend to feature employers’ liability insurance and public liability insurance as standard. Specific manufacturing insurance options are then included based on the level of protection you need to put in place.
Because your business is unique that means the level of risk it faces is just as distinct. That means costs can vary greatly depending on the amount of cover your business requires.
When it comes to putting together a quote, an insurer will consider the type of business you operate, the risk factors involved, the sums insured and your claims history. Horner Blakey will work with you to understand your budget and the individual needs of your business to build a competitively priced package that gives you high level protection.
Manufacturing insurance is a tailored business insurance package designed to protect manufacturers from the wide range of risks involved in production. It can include cover for machinery, raw materials, stock, product liability, employers liability and business interruption. The policy helps keep your operations running smoothly if an accident, breakdown or unexpected event occurs.
Manufacturing insurance typically covers machinery and equipment, buildings, stock, goods in transit, product liability, public liability and employers liability. Many manufacturers also add cover for equipment breakdown, fire and explosion risks, cyber incidents and business interruption to protect against production downtime.
Any business involved in making, assembling or processing goods should have manufacturing insurance. This includes small workshops, engineering firms, production lines, food and beverage manufacturers, printing companies and large-scale factories. If your business relies on machinery, materials or continuous production, the right cover is essential.
The cost of manufacturing insurance depends on the type of products you make, the value of your machinery, your turnover, the materials you use, your safety standards and your claims history. Higher risk industries such as metal fabrication or chemical processing usually pay more, while lower risk manufacturers may benefit from more competitive premiums.
Product liability insurance is vital because manufacturers can be held responsible if a product they produce causes injury, illness or property damage. It covers legal fees, compensation payments and associated costs. Even if you follow strict quality control processes, faults and defects can still occur, so product liability cover provides essential financial protection.
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