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Essential coverages to meet client demands
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
Commercial Property insurance will protect your machine shop from the damage to the buildings and its contents due to covered incidents such as flood, fire, theft, vandalism, and natural disasters. It can pay for all or the part of the cost when a covered loss happens. In this way, you can keep your machine shops open even if losses occur.
Business Interruption insurance will replace lost income that your business suffers after a covered disaster that forces your business to close. The insurance can also cover for the recurring fees like monthly bills and employee wages and the cost of moving to a temporary location.
Workers' Compensation insurance will pay for the expenses that come with an employee’s work-related injury. It pays for the medical and hospital expenses, rehabilitation expenses, and the employee’s lost salary. In exchange, the employee relinquishes their right to sue for employer negligence.
General Liability insurance protects your business from a variety of claims including third-party personal injury and property damage, bodily injuries, and other related risks. The insurance will protect your business and personal assets, so when a covered risk occurs, the insurance will pay for the attorney fees, court cost, and all other related expenses.
Businesses that fall under this industry are known as machine shops. They machine metal, plastic parts, and other composite materials. Machine shops are low volume and only make parts by order. To make the parts machine ships use lathes, automatic screw machines, and machines that bore, grind, and mill.
Machine shops need insurance to protect against the risks in which your business may be involved. It protects your business so that when a lawsuit, medical responsibility, auto accident or any risk that would cost a lot of money arises, it will cover the expense. Your insurance will pay for the cost of these risks so you don’t have to.
Machine shops face a lot of unique risks. Below are some of those:
The cost of insurance for machine shops depends on the size of your store, the coverage required and the number of employees you have. To find out the cost of your insurance policy, apply for a free quote online or talk to our insurance experts on the phone.
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