How manufacturer’s insurance protects your business
As someone in this industry, you know there are significant health and safety risks in manufacturing environments. Even if your company does a great job of promoting safe work practices, accidents can and will happen. That’s why you need manufacturer’s insurance — in particular, workers’ compensation coverage. Insurers offer other policies, too, but workers’ compensation is vital coverage.
This article has helpful information on manufacturing and workers’ compensation insurance: what it is, what it covers, and why every manufacturer should have it. Let’s dive in!
Why injuries are common at manufacturing companies
If you work in manufacturing, you probably know someone who has been hurt on the job. Maybe you’ve even had injuries yourself.
What increases the injury risk at manufacturing companies? Some of the biggest issues include:
- Machinery and equipment hazards. Heavy machinery with moving parts can cause severe injuries such as lacerations, crushing injuries, and even amputations. Unguarded or inadequately guarded machinery increases the risk of accidents. Malfunctioning or poorly maintained equipment can also cause injuries.
- Hazardous materials. Exposure to chemicals, dust, fumes, or other dangerous substances can cause short- or long-term problems, including skin irritation, respiratory issues, neurological damage, or cancer. The risks are even worse if people don’t handle and store materials correctly, leading to problems like spills, leaks, fires, or explosions. People working in cramped spaces or those with poor ventilation potentially face even more exposure to toxins or oxygen deprivation.
- Physical hazards. Uneven surfaces, cluttered work areas, wet or oily floors, and other conditions increase the risk of slips, trips, falls, and the resulting injuries. Workers face risks like falling objects causing head injuries, excessive noise that can result in hearing loss, and faulty wiring causing electrocution and fires.
- Ergonomic hazards. Repetitive motions and awkward postures can lead to musculoskeletal disorders (MSDs), including issues like carpal tunnel syndrome, tendonitis, and back pain.
- Psychosocial hazards. High workload, long hours, shift work, and other factors can contribute to stress, fatigue, or burnout. Issues like workplace harassment and bullying can also negatively impact workers' mental health and well-being.
- Lack of a safety culture. Inadequate safety training, lack of safety protocols, outdated or ineffective safety equipment, and poor communication about hazards can increase the risk of accidents and injuries in a manufacturing environment.
With all these (and other) injury risks, it’s easy to understand why manufacturing workers’ comp insurance is essential. It’s also clear you shouldn’t go a day without coverage.
What is Workers’ Compensation insurance?
You’ve heard your company should have workers' compensation insurance but aren’t exactly sure what it is. Here’s the scoop. Workers’ comp is a type of business insurance for manufacturers and other companies that protects employees and the business. If your company has employees, your state probably requires you to have this coverage or face fines, penalties, and potentially legal action.
Your policy can kick in if a worker is injured or gets sick due to their work and pay for the person’s medical care, rehabilitation, and some of their lost wages while they recover. If an employee dies in a work-related incident, the policy can provide a death benefit to their surviving family members.
A workers’ compensation policy from biBerk also has employer’s liability insurance by default. That’s important. It protects employers from lawsuits arising from an employee’s injury which are not covered by workers’ compensation insurance.
So, if a third party sues your business, saying company negligence caused an injury or illness, for example, your policy can cover legal costs, settlements, or judgments related to the lawsuit.
Get a quote for business insurance for manufacturers.
Buying insurance for your manufacturing business is simple when you work with biBerk. You can get an instant quote for workers’ compensation insurance on our website whenever you have a few minutes—first thing in the morning, as you eat your lunch, or late in the day when things slow down.
After checking out your quote, you can make your purchase online, too. It’s a convenient way to get the coverage you need to protect your people and your business.
We’re always happy to answer your questions (just call 1-844-472-0967), but if you don’t have any, you can complete your purchase in minutes, and coverage is typically active as soon as the next day.
Enjoy peace of mind with manufacturer’s insurance from biBerk.
There are lots of business insurance companies out there and big differences in how well they serve their customers. So, where you purchase your manufacturing workers’ compensation insurance matters. To be confident your claims will be handled correctly and efficiently if an injury occurs, you need to work with an insurer with decades of experience, deep resources, and a long list of happy customers.
As a Berkshire Hathaway company, biBerk has all that plus exceptional customer service from licensed insurance experts who are eager to help protect your company. When you get your manufacturer’s insurance from us, you can face whatever each busy day brings with confidence.