Owning a manufacturing company comes with a variety of risks. To protect yourself against these risks, it’s important that you carry the appropriate amount of insurance. From general liability to pollution liability insurance, here are three key liability coverages that you should carry as a new business owner.
As the name implies, general liability insurance is broad insurance protection for your day-to-day business activities. If a third party were to sustain an injury or property damage because of your business, your policy would be there to protect you in case of any lawsuits.
Professional liability insurance is there to protect you in situations where a third party claims that an error or omission on your part led to them experiencing a loss. This is a risk you face whether you manufacture products for end-users or suppliers. Whether the claim is real or not, defending yourself can be costly and your policy will be there to cover your related expenses.
Pollution liability insurance protects you against claims from third parties claiming that they sustained an injury or property damage because of pollution from your business. Funds from your policy can also be used to make purchases that help limit pollution.
Signing up for insurance can get overwhelming for new business owners. Work with an experienced agent to ensure that you get the right coverage for you