Candy manufacturers bring a little bit of joy to everyone. Whether you make hard candy, lollipops, gummies, caramels, or fudge, your day’s work brings a smile to kids and adults alike.
But the candy-making business is no laughing matter. Using precise processes and expensive, specialized machinery, you put a variety of ingredients into molds, add colors, stripes, and textures, insert fillings, and package, ship, and store your delightful creations.
Whether you make one kind of candy or candies with a variety of shapes, tastes, and textures, you face serious business risks that are as complex and diverse as your products.
Safety concerns, business interruptions, property damage, and lawsuits have enormous costs for any candy manufacturer.
Consider how the following types of events can lead to devastating financial losses:
All of these risks come with a hefty price tag. You need a comprehensive set of candy manufacturing insurance policies that address these risks, and more, depending on the unique needs of your business.
One of the biggest concerns for any candy manufacturer is protecting your business property, from your factory building and warehouses to everything that’s inside.
If you experience a fire, vandalism, or severe weather that damages your candy factory, you need property insurance to help you pay for repairing and replacing damaged property.
Another major property concern for candy manufacturers is the potential for damage to finished products or supplies that are in transit.
A candy manufacturing plant is filled with expensive, large machinery and equipment that is literally the key to keeping you in business. If equipment malfunctions, breaks down, or is destroyed, you will experience production shutdowns that can last from a few hours to a few months while you wait for repairs or replacements to be made.
Meanwhile, you have to pay for the damage, make up for lost revenue, and try to stay in business.
This coverage is invaluable if you are forced to close your doors for an extended period in order to make repairs. It pays for rent, employee salaries, lost income, relocation fees, and more.
Imagine losing electric power in the middle of production. Hot, sticky candy ingredients could become stuck in a machine and destroy not only ingredients and inventory, but also the machinery. And the longer you remain shut down, the more the disruption will cost you.
A breakdown of your specialized candy manufacturing equipment could cause additional property damage, as well as make your business unable to operate, pay for expenses, and earn revenue.
You can protect your business, your employees, and the general public from the costs associated with injuries and property damage that are caused by coming into contact with your business or your candy products.
Product recalls can be devastating for candy manufacturers. Costs include everything from product removal and disposal to ongoing public relations, permanent brand damage, and decreased sales and stock value.
Product recall insurance can help you with many of these costs, and might even help you avoid bankruptcy or closing your doors. It typically will reimburse a candy manufacturer for financial losses related to a product recall, including:
Candy manufacturing insurance costs will vary depending on the size of your business and the coverage you need. A large, multi-location manufacturer will pay more than a small confectionary; a factory in a hurricane zone might pay more than one located away from the coast.
With so many variables (e.g., number of employees, types of manufacturing equipment, size and location of your building, and the volume and geographical distribution of your products), cost is hard to predict. But an independent agent can guide you though your options so you get coverage that meets your budget.
An independent agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Our agents simplify the search process for finding the right candy manufacturing insurance. They’ll walk you through some handpicked policy options and explain the details.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can leave out important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.