Display manufacturers create retail, merchandising, and point-of-purchase displays from a wide range of materials.
Display manufacturers use wood, plastics, fabrics, lacquers, paint, electrical components, and more to fashion a variety of branded retail displays. Your manufacturing facility may have a wide range of products and materials on hand, including many that are flammable or otherwise dangerous to individuals or property.
Your employees may at times engage in hazardous work using large, expensive, and dangerous equipment, while others may craft displays with their hands, making them highly susceptible to repetitive motion and other work-related injuries.
Risks for employee injuries, equipment breakdowns, fire, weather, and other types of interruptions or unforeseen events are a daily concern for display manufacturers. With the help of an independent insurance agent, you can find a comprehensive business insurance program designed to address your unique needs.
Why Do You Need Display Manufacturer Insurance?
If you own or operate a display manufacturing business, you need to understand all of the risks that are present and how to protect your business and your employees from devastating injuries, property damage, and financial loss.
Your in-house manufacturing facility is highly specialized yet able to fabricate displays using a variety of methods including injection molding, acrylic fabrication, and vacuum forming. You likely also perform laser cutting, silk screening, painting, and decorating. And you may specialize in working with acrylics, metal, and wire, as well as digital and interactive applications.
You probably have flammable materials as well as valuable materials, inventory, and equipment on your premises. Your buildings and equipment are susceptible to fire, theft, vandalism, and natural disasters. A physical loss could completely destroy your ability to operate, and you may never recover.
What’s more, display manufacturers can be sued for a variety of reasons, from causing some kind of injury to making an error that causes a financial loss for a customer.
Display manufacturer insurance helps you protect your business against these and other serious business risks.
What Does Property Insurance Cover?
Commercial property insurance protects your building and other property in the event of a covered loss.
If a fire, vandalism, smoke, theft, or another covered peril (cause of loss) damages your property, commercial property insurance provides coverage for lost inventory, industrial equipment and machinery, warehouses and office space, office equipment, computers, valuable papers, and more. It may also provide coverage for neighboring facilities and completed products housed on your premises.
Commercial property insurance policies usually include business interruption coverage, or business income coverage, which 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, hail, wind, equipment breakdown). And you can expand your business income policy to include coverage for breakdowns in utility services (water, electrical) that force you to temporarily close your doors.
Work with an experienced independent insurance agent who can help you evaluate and calculate appropriate property coverage for your display manufacturing business. An agent with experience working with display manufacturers and similar businesses can help you properly differentiate coverage for your building, heavy equipment, and other contents.
You may also need equipment breakdown insurance, often referred to as boiler and machinery coverage, if you use certain types of machines or heavy equipment to manufacture displays. Equipment breakdown insurance supplements your business property insurance. It covers certain costs associated with accidental breakdown of machinery or equipment and the resulting property damage or loss.
Equipment breakdown coverage typically covers breakdowns due to power surges, motor burnout, boiler malfunction, and even operator error. You can obtain coverage for mechanical and electrical equipment, computers and computer systems, boilers, and other types of pressure equipment.
Boiler and machinery insurance covers repair and replacement costs as well as business interruption costs related to a breakdown of covered machinery or equipment.
What Does Liability Insurance Cover?
You can protect your operations, products, and customers with a variety of liability policies designed for display manufacturers.
You need general liability insurance for occasions in which your business is negligent and causes bodily injury or property damage to a third party. Your commercial general liability (CGL) policy protects you in the event of third-party lawsuits, with coverage for attorney fees, court costs, settlements, and judgments up to the limits of your policy.
Like any company that manufacturers a product, you may also have product liability exposures. Claims for product-related damages are usually related to manufacturing or production flaws, design defects, or defective warnings or instructions. If you are sued for some type of product negligence, you may be required to pay for medical costs, compensatory damages, economic damages, attorney fees, court costs, and more.
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. Some product liability coverage is usually included in standard CGL policies, but this coverage may not be sufficient. You need an experienced agent to help you determine how much product liability exposure you have and how much and what type of coverage you need.
If you own trucks or other vehicles, commercial auto insurance covers your vehicle fleet and drivers in the event of an accident or other vehicle damage that occurs. 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.
You may want to talk to your independent insurance agent about your need for excess liability, or commercial umbrella insurance. Commercial umbrella insurance provides an extra layer of liability protection to any of several other liability policies you might have. By purchasing one commercial umbrella policy, you essentially get higher limits on all of those policies rather than having to raise the limits on each policy individually. Commercial umbrella insurance kicks in when the limits of your other applicable insurance policies have been exhausted, protecting you in the event that a claim exceeds the amount of coverage available from any other applicable policy.
What is Worker’s Compensation Insurance?
The safety of employees in a manufacturing environment is of utmost importance. Your workers may come into contact with heat and welding tools, cutting tools, heavy machinery, and numerous dangers to fingers, toes, eyes, and other appendages. Those who regularly work with hand tools are particularly vulnerable to repetitive motion injuries. And constant exposure to lacquers, paints, and other chemicals also can be potentially dangerous to workers.
Keeping your employees safe from work-related injuries and illnesses is important for your employees’ long-term health and satisfaction as well as your company’s financial viability. Worker’s compensation insurance provides insurance 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.
Worker’s compensation insurance is not only complex, but is also essential to the long-term survival of your business. And purchasing worker’s compensation insurance is not enough; implementing safety programs and insisting on worker compliance is the only way to keep your worker’s compensation claims and costs under control.
How Much Does Display Manufacturer Insurance Cost?
Insurance for display manufacturers can range from several hundreds of dollars per month to thousands. The costs to insure your individual business will depend on the size of your operation as well as a variety of individual risk factors including:
- The size of your business
- The location of your shop and any other buildings that you own or operate out of (office space, warehouse space)
- The number of employees
- The types of tools, machines, and specialized equipment that you have
- How many trucks and drivers you have (if applicable)
- The size and scope of the projects you take on
- The value of the inventory and other property you keep on your premises
- The types of coverage and amount of coverage that you need
Ultimately the types and amounts of coverage you need to adequately cover your risks will dictate the cost of your coverage.
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 display manufacturer 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 see 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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