Scoreboard manufacturers are part of the sign manufacturing industry, which is primarily engaged in manufacturing signs and related displays of all materials except for printing paper and paperboard signs, notices, displays.
Scoreboard manufacturers create and install scoreboards and other types of electronic signs for sporting venues. In addition to scoreboards, scoreboard manufacturers might also create and install other digital signage including live video boards, video message boards, and digital banners that surround a stadium or sports complex.
Risks for employee injuries, equipment breakdowns, fire, damaging weather events, and other types of interruptions or unforeseen events are a daily concern for scoreboard manufacturers. You need a comprehensive business insurance program designed to address your unique needs. An independent insurance agent can help you get the coverage you need.
Why Do You Need Scoreboard Manufacturer Insurance?
Risks for employee injuries, equipment breakdowns, fire, damaging weather events, and other types of interruptions or unforeseen events are a daily concern for scoreboard manufacturers.
Scoreboard manufacturers use a variety of materials and electrical components to create high-tech signs and 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 signs or displays with their hands, making them highly susceptible to repetitive motion and other work-related injuries.
You need scoreboard manufacturer insurance to help you mitigate all of the property and liability risks that you face in your day-to-day operations.
Property Insurance for Scoreboard Manufacturers
If you own or operate a scoreboard 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.
You likely have flammable materials as well as valuable parts and inventory on your business premises. Your buildings and equipment are susceptible to fire, theft, vandalism, and natural disasters. 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 scoreboard manufacturing business. An agent with experience working with scoreboard manufacturers and similar businesses can help you properly differentiate coverage for your building, heavy equipment, and other contents.
You may need additional coverage for completed scoreboards, tools, and other equipment being transported from place to place. If you deliver or install scoreboards or displays, or transport tools or parts to manufacture a scoreboard or a display onsite, you need additional coverage for your business property once it leaves your premises.
Inland marine insurance is designed to protect you from losses when cargo is damaged in transit. Any piece of property that is moved from one location to another can be covered with an inland marine policy. The best way to ensure that you find the right type of inland marine coverage for your needs is to work with an independent agent who has experience working with scoreboard manufacturers.
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 scoreboards or electronic displays. Equipment breakdown insurance supplements your business property insurance, and 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. It covers repair and replacement costs as well as business interruption costs related to a breakdown of covered machinery or equipment.
Why Do You Need Workers’ 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. Employees may work on ladders or lifts as they construct or install scoreboards or electronic displays high off the ground. 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. Excessive employee injuries and illnesses can be financially devastating for your business.
Workers’ 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.
Workers’ 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.
Workers’ compensation insurance is not only complex, but also is essential to the long-term survival of your business. And purchasing workers’ compensation insurance is not enough. Implementing safety programs and insisting on worker compliance is the only way to keep your workers’ compensation claims and costs under control.
Liability Insurance for Scoreboard Manufacturers
You can protect your operations, products, and customers with a variety of business liability policies designed for scoreboard manufacturers.
You may not typically have customers or the general public on your premises, but you still 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 damage 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 commercial general liability (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 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.
How Much Does Scoreboard Manufacturer Insurance Cost?
Insurance for scoreboard 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 manufacturing facility 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
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 scoreboard 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-saving 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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