Insurance for Plastics Manufacturers

In this industry, companies specialize in the production and sale of goods made from biodegradable and nonbiodegradable plastics, rubber, and adhesives. Products may include cushions, carpets, rugs, sausage casings, rubber goods, film, plastic sheets for later manufacturing purposes, packaging materials, rubber cement, and balloons.

manufacturers need insurance because it protects the business from the many known and unknown risks. The most common is defending a lawsuit. The insurance will cover the defense and court costs and all that's required is a monthly payment.

Below are some of the risks plastic manufacturers could face:

• The equipment your business uses for manufacturing plastics suddenly malfunctions. This forces your business to stop production for a day.
• The client claims that the services you offered are not satisfactory and that they have lost money as a result. Because of this, the client sues your business.

There is no fixed cost of insurance for plastic manufacturers as there are several factors that identify the cost of your insurance, like the type of business, the coverage required, and the number of employees. Without taking these into account, below are the average costs of insurance policies for your business:

• General Liability insurance costs $500 in annual premiums.
• Professional Liability insurance costs $1000 in annual premiums.
• Business Interruption insurance costs $700 in annual premiums.