Insurance for Manufacturers

Why do Manufacturers need insurance?

Don’t let a potential safety defect in your products, damage to your assets, or lost production times deflate your business. Protect it against liability claims and other unexpected events. With just a few clicks or a single phone call, you can get multiple competitive quotes from some of Australia’s leading insurers. Select your preferred policy and get covered instantly, so you can get back to managing your production line.

Insurance for Manufacturers

Public & Products Liability

As a manufacturer you are potentially exposed to many financial and legal risks. Regardless of the types of products you manufacture, Public and Product Liability insurance is an important form of cover. It is designed to protect your business against claims relating to personal injury or property damage as a result of your business activities, whether it’s providing a faulty or dangerous product; bodily injury sustained to third parties at your place of business, such as slips and falls; or damage to their personal property.

Tip: if you export goods, check for any territorial limits in your policy for liability claims that arise from overseas markets.

Business Insurance

Where would your manufacturing business be without its premises, machinery, equipment or stock? Having the right business insurance will ensure you’re not left severely out of pocket if your business is hit with a few unwanted challenges.

Important cover for manufacturers can include:

• Contents and stock – this type of insurance covers for loss of or damage to items such as business equipment, stock, plant and machinery, records and furniture belonging to you at the insured location.
• Building – this type of insurance will cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).
• Machinery Breakdown – an important form of cover if you rely on machinery and equipment to manufacture your products.
• Transit – cover your goods whilst they are in transit in a vehicle owned or operated by you against loss, theft or damage.
• Business Interruption – one of the biggest issues that manufacturers can face is lost production time. Could you survive having to shut down for a few days, weeks or months if your business suffered an insurable event (like fire)? This type of insurance provides cover for financial loss as a result of an interruption to your business caused by an insured event.

Management Liability

As a company director or senior manager, you don’t want any unwanted surprises that may leave you personally liable. Management Liability insurance* is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.