Matzoh sellers are part of the commercial bakery industry. They manufacture and sell matzoh to Jewish families, groceries, hotels, and a wide range of other customers. Products may range from traditional matzoh to gluten free and organic specialties.
Along with typical manufacturing concerns (fires, injuries, and property loss), matzoh sellers face risks like spoilage, contamination, tampering, and foodborne illnesses that can harm customers.
Matzoh seller insurance can help you address these concerns and protect your assets when something goes wrong. An independent insurance agent can help you get the customized business insurance you need.
Why Do You Need Matzoh Seller Insurance?
Matzoh sellers face all kinds of risks in their day-to-day operations. Spoilage, supply shortages, equipment breakdowns, and recalls can severely impact your ability to operate, earn revenue, and pay your bills. And if something like a tornado or fire destroyed your bakery facility, how would you rebuild and continue to operate?
Matzoh sellers need insurance policies that are tailored to their unique needs and risks. You need a variety of business insurance policies that protect:
You also need protection from the costs of lawsuits if someone sues you, as well as the excessive costs if you experience a product recall. Any food manufacturer can be sued if someone is injured on their premises or as a result their operations. If a consumer becomes ill—or worse—because of your product, you will likely have to deal with a lawsuit as well as the costs of a long and damaging product recall.
What Does Matzoh Seller Insurance Cover?
Matzoh sellers need a variety of business insurance policies to protect them from numerous property and liability risks. These policies can:
- Help you pay for repairing and replacing damaged property
- Help you cover expenses during a temporary closure
- Help you pay defense costs and damages if you are sued
Types of Insurance for Matzoh Sellers
Talk to an insurance agent about which of the following types of policies you need to protect your assets.
- Commercial property insurance protects your building and other property in the event of a covered loss, such as fire, vandalism, smoke, or theft. It provides coverage for physical damage to equipment and machinery, factories, warehouses, office space, office equipment, computers, and more.
- Business interruption coverage protects your earnings and helps to pay expenses if your business is unable to operate because of damage caused by some type of covered disruption (fire, weather, etc.).
- Equipment breakdown insurance, often referred to as boiler and machinery coverage, supplements your business property insurance. It covers certain costs associated with accidental breakdown of machinery or equipment and the resulting property damage or loss.
- Commercial general liability (CGL) insurance is necessary for occasions in which your business is negligent and causes bodily injury or property damage to a third party. Your CGL policy provides coverage for attorney fees, court costs, settlements, and judgments up to the limits of your policy.
- Product liability insurance covers your financial responsibility for losses or injuries to a user, buyer, or bystander caused by a defect or malfunction of your product. If you are sued because a tainted food product makes someone sick, you may be required to pay for medical costs, compensatory damages, economic damages, attorney fees, court costs, and more.
- Commercial auto insurance covers your vehicle fleet and drivers in the event of an accident or other vehicle damage. Commercial auto insurance provides coverage for property damage and bodily injury liability claims, vehicle damage, and medical bills, as well as any costs related to lawsuits due to auto accidents involving your vehicle fleet.
- Commercial umbrella insurance, or excess liability coverage, provides an extra layer of liability protection to any of several other policies you might have. It is activated when the limits of your other applicable liability policies have been exhausted, protecting you when a claim exceeds the amount of coverage available from any other applicable policy.
- Utility interruption coverage reimburses you for costs related to breakdowns in utility services (water, electrical) that force you to temporarily stop production.
- Cargo and goods-in-transit coverage, including ocean marine coverage and/or inland marine coverage, protects your products as they are transported from place to place.
- Spoilage coverage offers financial protection for the costs of goods that spoil on-site.
- Directors and officers (D&O) liability insurance provides protection for directors and officers of companies against legal judgments and costs arising from a variety of different business decisions.
The Importance of Product Recall Insurance
Product recalls are a major source of danger for food manufacturers as well as their vendors, suppliers, and distribution partners. While food recalls can occur for a variety of reasons, the main culprits are usually undeclared allergens (e.g., mislabeling a product that contains gluten as "gluten free") and Listeria contamination.
If you are forced to recall a matzoh product, the costs can be devastating. A study by the Food Marketing Institute and the Grocery Manufacturers Association estimates that the average cost of a recall for a food manufacturer is $10 million—not including ongoing lost sales and reputational damage.
Product recall insurance can help you. It typically covers a wide range of costs related to a food recall, including:
- Actual recall costs (product removal and disposal)
- Loss of profit
- Product replacement
- Extra expenses
- Reputation rehabilitation expenses (public relations and communications costs, etc.)
Protect Your Employees With Worker's Compensation Insurance
Workers in your matzoh bakery face a variety of dangers, including:
- Injuries due to use of heavy equipment
- Slippery floors or hazards that lead to slips, trips, and falls
- Crushed fingers, hands, or limbs
- Burns or other eye or skin injuries or irritations
Excessive employee injuries and illnesses can be financially devastating for your business. Worker's compensation insurance provides coverage when accidents happen at the workplace. It ensures that the injured worker gets medical care and income protection while unable to work.
Worker's compensation insurance provides benefits to injured workers regardless of who is at fault for their injury. And it will provide death benefits for a worker’s dependents if there is a fatality.
Matzoh sellers should work with an independent insurance agent who has experience helping employers like you find worker's compensation coverage.
How Much Does Matzoh Seller Insurance Cost?
The size of your business and the types of policies you need to cover your unique risks are the biggest predictors of how much your business insurance will cost. A variety of variables that are unique to your business help determine how risky you are to insure, and consequently how costly your insurance will be.
To determine the types and amounts of coverage that you need—which will determine your cost—your insurance agent will evaluate several factors, including:
- Number of employees
- Types of commercial bakery equipment
- Size and location of your building
- Volume and geographical distribution of your products
- Size of vehicle fleet
Find and Compare Quotes
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.
Benefits of an Independent Agent
Our agents simplify the search process for finding the right matzoh seller insurance. They’ll walk you through the 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.
The Lowdown on Online Quotes
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 take into account the whole picture. They can omit important coverage that will leave you devastated if something unexpected happens. And they can leave out cost savings opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.
TrustedChoice.com Article | Reviewed by Paul Martin
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