Metal Workers and Fabricators Insurance
Insurance for Metal Workers and the Metal Fabrication Industry
Metal Workers and Fabricators Insurance
Whether your business fabricates small batches of products, larger single structures for the construction sectors or perhaps more specialist products such as heat exchangers and boiler systems for manufacturing plants. Whatever you manufacture small or large items, metal workers and fabricators insurance you will know, is one of the key purchases for your business, its essential therefore that you make the right choices when you come to buy that important protection.
Metalworkers in the fabrication and sheet metalwork sector not only manufacture a wide range of products but the types of materials used and the sometimes specialist processes mean that they are exposed to a number of risks such as a faulty product that has failed causing injury or where the metals they have are more attractive to thieves.
What is Metal Workers and Fabricators Insurance?
As a metalworker you will be using all types of metals from mild steels, through to alloys and stainless steel, the processes that you use for fabricating metal assembles from traditional welding such as MIG or TIG to some of the latest metal joining technology. There are multiple exposures and risks in a metalworking business that means the insurance you buy must be wide enough to cater for the materials that you use, the welding and cutting processes that are used as well as the movement or delivery of the finished item that has been created.
A Fabrication business insurance can protect the premises that you work from, including the machinery that is used, and in the event of a loss there is cover in place to ensure there is continuity even if you can’t work from the business premises. One of the key considerations is where someone may take action against you because they have been injured or they have had a loss due to the negligence of someone within your organisation.
What does insurance for Metalworkers include?
A fabrication business insurance can be made up of various covers that are bespoke to exactly what that business needs, therefore buying an insurance policy just for the protections that are actually required. These types of policy would be a commercial combined type insurance that is infinitely flexible with your business growth.
Most fabrication businesses will work from premises, there will be expensive machinery such as welders but also automated metal joining taking place. There might be laser or plasma cutters producing accurately cut components. With all this machinery its important that insurance cover is in place against fire or storm damage to the premises as well as theft of equipment or higher value stock such as none ferrous metals.
If the business suffers a loss at the premises then interruption to working can cause the business a great deal harm! Business Interruption insurance will keep your business “in business” even if you are not producing goods.
Protecting expensive finished products whilst moving them to your customer’s premises or to site, requires Goods in Transit insurance. This will provide a wide range of covers from leaving your premises to arriving at their destination even if they are moved by a carrier.
Does my business need Liability insurance as a Metal Worker and Fabricator?
Public Liability insurance is the cornerstone of any insurance policy, it will protect your business in the event that a member of the public becomes injured or have a loss due to your negligence. This could be at your business premises, whilst delivering to your customers or even when you are installing on site. If you are working on site cover usually has to be extended to include work away from your own premises.
As a manufacturer sometimes problems can arise where your product causes injury to the user or damage to property because the product has failed due to you negligence, this could be incorrect welding which causes a boiler to fracture causing damage to other surrounding machinery. This would be referred to as Product Liability insurance usually accompanies public liability.
A fabrication workshop can be a hazardous environment, noise, heat, welding fumes, gasses, overhead cranes moving large pieces of metal around. Even with the best Health & Safety in place accidents involving employees can still occur and this is where Employers Liability Insurance will protect the business should a claim be made by an employee for injury whilst carrying out their work.
Public & Products Liability insurance have something called a limit of indemnity, this is the limit to which the insurer would pay a claim, we would always recommend £2million although higher limits such as £5million is commonplace.
If you employee people, whether self-employed or even voluntary Employers Liability insurance for a metal working or fabricating business is required by law.
What other types of insurance cover is available for a fabrication or metalworking business?
Hired in Plant and Own Plant Insurance – sometimes a business might require additional plant or machinery whether at their own premises or whilst away from the business. Having made an item such as a fire escape may mean that you also have to install as well, this could mean the hire of a cherry picker or small crane, if you hire in plant unless the hirers insurance is taken then its your responsibility.
Own plant insurance for installation of fabricated items needs to be insured separately, this can be purchased where required.
Engineering Inspection – more of a service than insurance although some providers will give a small amount of insurance cover. This service includes the inspection of lifted or pressure plant, this could be a Fork Lift Truck, or a compressor as well as extraction plant or equipment.
Machinery Breakdown Insurance – sometimes a machine will break down for no apparent reason, a vital component or circuit board. Insurance for such eventualities is available enabling you to get that machinery back to work and reducing the losses.
Directors & Officers Liability insurance
Cyber Protection
Single or Multi-Vehicle Insurance
Legal Expenses Insurance
Why deal with Real Insurance for your Metal Workers and Fabricators Insurance?
As commercial insurance brokers we have many years helping our clients to find the best insurance products that match their business insurance requirements.
We deal with insurers across the industry not just relying on one insurance company. We have excellent and longstanding relationships with these insurers and work very closely with them to get the best deal for your business.
Above all we are not a call centre, we can and will give advice where necessary to guide you through your Metalworkers Insurance requirements and assist you in obtaining the best policy that suits the needs of your business.
Speak to one of our commercial team today about your insurance requirements.
