Corporations in every industry, from the oil and gas industry to manufacturing, energy, telecomm and other technology sectors face specialized risks that are particular to their work environment and the materials they handle. To cover these risks, manufacturing and production companies need industrial insurance risk protection.
If you are looking for an industrial insurance agency, consider working with an independent agent in the Trusted Choice® network who specializes in commercial insurance. These agents have access to multiple insurance companies, which means you can get the help you need to find just the right insurance plan for you. Your agent can help to assess your specific risks and craft a customized package that meets all of your requirements. Contact a local agent now for industrial insurance coverage and rate quotes.
Industrial insurance is considered the same as workers compensation in some areas. However, for many companies in a wide range of industries, industrial insurance is a broad set of coverage that protects both commercial operations and employees. For that reason, industrial insurance falls into two categories:
Workers compensation, formerly known as "workman's comp," has several important features, and is designed to protect both your workers and you, the employer.
Here are some key facts:
It is important to find a knowledgeable local insurance agent who is informed about your state's laws and requirements. Regardless of your state's requirements, you may want to evaluate workers comp for your company to protect your business in the event that an employee is injured or becomes ill on the job.
Some states allow you to self-insure if you have the financial capability to do so and have an active accident prevention program. Typically, your state's Department of Labor and Industries oversees the self-insurance program.
No matter what industry you work in, there's a customized industrial insurance program to meet your specialized needs. Here are some of the industries covered:
The specific coverage plan your company needs will depend upon a range of factors, such as the materials you handle, risks in the work environment, risks to customers, and the size of your workforce.
For example, your organization may need some combination of the following:
You may also need other specific coverage types to meet your full risk management requirements. For example, you may need "directors and officers liability" insurance to cover action of your key company leadership, or you may want a business umbrella policy to provide excess liability in the event of a catastrophic legal claim against your company.
An independent agent who specializes in business insurance can meet all of your commercial coverage needs out of one office. These agents work with multiple insurance companies and can assemble the complete portfolio of coverage you need to protect your work force, your equipment and your financial bottom line.
The bottom line is you need a knowledgeable agent who is well-versed in industrial insurance policies to help you get the protection you need for your workers and for the special risks of your industry. An independent agent in the Trusted Choice network who specializes in commercial coverage can help to assess your risks and concerns and assemble all of the business insurance you need, even if you require policies from several different insurance companies.
Your independent agent can also help you compare rates on various policies you need, so you can find the right coverage at a cost that matches your budget. Contact a local member agent for personalized assistance today.