Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused somebody financial loss. PLI covers your legal defense costs, damages and settlements.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Equipment Breakdown Insurance protects your equipment from breakdowns caused by motor burnout, power surges, boiler malfunction, and operating error. It covers you for the costs to replace or repair your damaged equipment, and other related expenses.
Why do Food Manufacturers need insurance?
Starting a food manufacturing business comes with plenty of risks. And with a lot of focus on the safety and new regulations that change almost constantly, the stakes are even higher.
Food manufacturers need insurance to protect their businesses from many known and unknown risks. All it takes is just a few minutes of your time to get started and be committed to paying a monthly fee.
What risks do Food Manufacturers face?
When the equipment you used for food storage breaks down, your daily production decreases along with the decrease in the storage area from the malfunction. The food stored in it could be prone to spoilage, and it would take a while to repair or replace the damaged equipment.
How much does Food Manufacturing Insurance cost?
The cost of insurance for food manufacturers vary on the type of services you offer, the number of employees you have and the coverage requirements. There is no fixed rate for an insurance policy, so to get the cost of your insurance, give us a call or apply for a free quote online.