What insurance is available for a Car, Van or motor Cycle parts Manufacturer
A vehicle parts manufacturing business needs to be protected against various risks they are likely to face in the course of their business. This can be anything from a theft at the premises or something much worse such as a large fire that stops the business continuing for many months.
The machinery used to produce components of accurate tolerances can be very expensive, CNC machinery, presses and specialist welding and joining and of course CAD equipment on its own can run into many tens of thousands. With some component parts being of special alloys or non-ferrous metals, these need to be protected and this is where Stock insurance is a very important cover.
Sometimes damage at the manufacturing premises such as storm, fire or in more modern times with flood being more frequent it can mean the business can’t operate causing a loss of profits, covers such as business interruption insurance is available to make sure the business remains in business.
Whilst Public & Products Liability is essential its also a legal requirement to ensure that injured employees are properly compensated, this is called Employers Liability.
When delivering your products to your customers or entrusting them to a carrier means they are exposed to further risk such as theft, Goods in Transit insurance will protect your goods until they arrive at their destination.
Other insurance protections are available to your business…
Commercial Legal Expenses insurance provides a wide range of cover such as defence at Employment Tribunals, Tax or VAT Investigations, and where supplier and customer relations break down Contract disputes cover can be included.
Being a Director of Company has its rewards, but also comes with its own risks. A director can be held responsible for a wrongful act and this is where Directors & Officers Liability Insurance is essential.
In modern times, hackers and cyber criminals are always one step ahead, Cyber Insurance is essential to protect your business.