Light manufacturing businesses are exposed to an array of potential risks, several of which last well beyond when a product is made. In addition to protecting their own inventory and stock, these businesses must also safeguard against the possibility of facing a liability lawsuit that accuses them of making an error. Light manufacturing insurance helps protect light manufacturers in Massachusetts from a variety of potential risks like these.
Light manufacturing insurance policies are a type of commercial insurance that’s uniquely designed to meet the insurance needs of light manufacturing businesses. Most policies are package policies that include several coverages which work together to provide a business with robust protection.
As mentioned, light manufacturers insurance policies typically offer several coverages. Some of the coverages that may be found in a policy are:
Light manufacturers insurance policies are written to meet the needs of light manufacturing businesses. In general, these tend to be manufacturing businesses that have gross annual receipts of up to $10 million and property worth up to $7.5 million in total.
Some examples of Massachusetts businesses that may meet the above criteria and benefit from having a light manufacturers insurance policy include:
Although light manufacturing policies are written specifically for light manufacturing businesses, they don’t normally provide every protection that manufacturers need. In most cases, no insurance policy is able to meet all of the insurance needs that a business has.
Because light manufacturing insurance is highly specialized, Massachusetts businesses shouldn’t try to purchase it on their own. Instead, they should work with an independent insurance agent who can help explore the risks that a light manufacturing business is exposed to and explain what coverages will protect against those risks. The expertise of our agents, who’s familiar with this kind of insurance, will help ensure your business finds a policy that will provide proper protection.