Searching for Orlando manufacturers insurance can seem boring and redundant. Most business owners know about the more popular coverage options such as workers compensation, commercial property, and general liability. However, few are aware of lesser-known coverage options that can be just as beneficial. Here is a list of four insurance coverages that every business should have.
1. Business Interruption
Also known as business income insurance, business interruption insurance covers the loss of income due to a disaster striking your facility. It’s different from property insurance because it’s designed to cover the potential income lost rather than the damage to the building.
2. Equipment Breakdown
If an equipment malfunctions or stops working, whether due to employee damage, electrical outage or other reason, equipment breakdown insurance will cover the costs associated with the repair as well as business income losses.
3. Product Liability
More than just a warranty, product liability protects your business if your product causes damage or injury to a customer or other third-party.
4. Manufacturer’s Errors & Omissions (E&O)
Manufacturer’s E&O fills in a gap in product liability in that it is designed to cover instances where a third-party is injured because of an error in designing a product.
As you search for Orlando manufacturers insurance, make sure to ask about these coverages prior to starting a policy. They may not be as popular as others, but they can play a major role in the success of your business.