About Machine Shop Insurance
The metal working industry comes with rewards and dangers. While your machine shop manufactures essential products, it is also exposed to plenty of risks. Worker injuries, equipment breakdowns, employment disputes, and property damage are just some of the liability hazards machine shop owners must contend with.
What Coverage is Included?
While it is certainly possible to offer a bespoke insurance solution for your particular machine shop, most machine shop insurance products cover the following risks:
- Workers' Compensation
- Cyber Liability
- Businessowners Policy
- Employment Practices Liability
Coverage for Employee Injuries
Working with metal and heavy machinery all day presents obvious risks to your employees. Even if you take all the necessary safety precautions, a work-related injury can still happen. Machine shop insurance includes both Workers' Compensation and Disability coverage to protect your workers in the event of an accident. With such coverage, your injured employees will have access to the compensation they need and your business will be protected from costly litigation.
Coverage for Equipment and Property
Equipment breaks down or it can become damaged. Likewise, your property faces serious risks, from fire, theft, and natural disasters. Without your machinery being operational, your business cannot make the products that keep it profitable. Our Businessowners Policy portion of our Machine Shop Insurance product covers your business for property damage and will also cover you if your business operations are interrupted, such as by a storm or hacking event.
Protection Against Claims
Machine shops are exposed to a number of liability claims. As part of our Businessowners Policy, your business enjoys General Liability coverage, which is designed to cover you for the cost of claims brought against your company by a third party who was injured on your business' property.
Our Employment Practices Liability covers your business if it is the subject of legal action by a current or former employee, including against allegations of wrongful termination and wage claims. Just a single disgruntled employee can cost your business hundreds of thousands, even millions, of dollars. Reduce the risk with Employment Practices Liability Insurance.
Finally, our Cyber Liability coverage is quickly becoming a popular choice for many small business owners. If your business is the victim of a data breach, your clients' personal and business data could be exposed. This exposure could lead to claims against your business. Our Cyber Liability product helps cover the cost of such claims.
How Do I Get Machine Shop Insurance?
The risks--and potential costs--that machine shop owners face are too great to be left to chance. AmVenture Insurance Agency, Inc. can help your machine shop reduce its liability exposure through our Machine Shop Insurance product. Fill out the above form today and one of our representatives will be in touch to show you how you can save money and reduce your business' risk exposure.