As a manufacturer, you’re surrounded by tons of risks. At any given time, something can go wrong that negatively impacts your business, employees or clients. A well-structured business insurance policy will be needed to fully protect your investment. One aspect of such a policy is liability insurance. There a many options, but here are three of the more critical ones you should include in your policy.
General liability protects you in case a third party sustains an injury or property damage because of your business or on your property. If a lawsuit is filed, your policy would cover your legal expenses as well as any other costs for damages you owe.
Like general liability, the professional liability portion of your policy will cover the costs of your legal fees and damages in case of a lawsuit. The specific claims that can be made under professional liability are instances where a third party claims that an error or inadequate performance led to them experiencing a loss.
Pollution liability protects you in case a third party files a suit claiming that pollution from your business caused them to become ill or damaged their property. According to Northstar Insurance Services, in addition to providing payment to cover your legal fees, your policy will also pay for items that can be used to limit pollution.
Many other liability coverages are available to keep your business protected and running smoothly. Work with an experienced agent to create a complete policy that lives up to the risks associated with your industry.