Find the Best Manufacturing Insurance Rates
Contact our Huronia business insurance brokers at 1-866-955-8386 if you need manufacturing insurance in Ontario.
There can be many issues that companies that manufacture might have to face, some of which can have a significant impact on your business. Huronia Insurance Group in Barrie Ontario can help connect your Ontario company with Canadian insurance providers. We can help you find the best manufacturing insurance rates plus assist you in international markets.
Below you find more detailed information on the different types of insurance for manufacturing companies that we can provide:
Manufacturing Equipment Insurance
For companies that manufacture products, equipment breakdowns can be quite costly. Your operations, your reputation, and your profits rely heavily on your machinery and equipment functioning well. Industrialized equipment insurance (aka equipment breakdown insurance) will help to cover your costs should your equipment malfunction. These may include explosion damage, mechanical breakdowns, electrical breakdowns, etc. However, equipment breakdown insurance can also offer protection against any outside factors such as theft, vandalism, flood damage, weather damage, etc.
Business Interruption Insurance
Interruption insurance coverage covers loss of income if your operations are interrupted because of a disaster. Business interruption insurance will cover the revenue your company would have earned during and following a forced shutdown of your production facilities. This would include fixed operating expenses like mortgage or rental payments, taxes, electricity, etc.
Industrial Facility Insurance
The building you occupy may be insured through your commercial property insurance. This type of insurance generally offers protection for the building and the building’s contents including your office equipment, tools and machinery, plus inventory. See our page on Commercial Property Insurance for more information.
Errors and Omissions Insurance
Product defects, failure to perform, and other related issues fall under errors and omissions insurance. Manufacturing E&O insurance helps to protect you against negligence or mistakes in the production process. You will certainly want to be covered if, for any reason, your product fails to function as intended and causes bodily injury, property damage, or financial loss to the end user. See also our page on Directors and Officers Insurance coverage.
Overhead refers to your factory operations and includes indirect costs and costs incurred. Factory maintenance, quality control, the rent you pay, or the depreciation on your production facility or your factory equipment would all be considered as part of your overhead.
Manufacturing Liability Insurance
In the eyes of the law, your company may be held responsible for damages incurred by a third party. Today, Canadian manufacturers can face any number of risks (including cyber security) so we recommend that you include liability coverage with your business insurance policy. If your products should have a design, production, or marketing defect and cause sickness, property damage, or bodily injury, liability insurance will help protect your business against any third party liability claims. For additional information, see our page on Umbrella Liability Insurance.
Risk Management Advice & Services
There are two components to risk management and insurance for manufacturers – protecting your business and staying competitive. Our Huronia business insurance brokers can help you best mitigate risks and protect your investments in today’s intricate world of sophisticated factory equipment and complex operations software? See also, our page on Business Risk Insurance.
About Huronia Insurance
Based in Barrie Ontario, Huronia Insurance Group has developed excellent working relationships with many of Canada’s top Business Insurance Companies. We’ve been providing manufacturing insurance services to clients for nearly two decades throughout southern Ontario.
Whether you produce plastics, apparel, electronics, food products, beauty products and cosmetics, or wood products, we can help you with your manufacturing insurance needs.