Manufacturer Insurance in Michigan

Manufacturing is a crucial part of Michigan’s economy. It employs hundreds of thousands of workers and generates billions of dollars in economic activity. However, manufacturing businesses are exposed to a variety of risks that can put their operations and profits at risk. That’s why it is so important for manufacturers in Michigan to have the right insurance coverage.

Oakland Insurance Agency has extensive experience in providing insurance for manufacturers in Michigan. Our agents understand the unique challenges that manufacturing businesses face and can provide tailored solutions to meet their needs. We have worked with many different manufacturers in a wide variety of industries and can help you find the right coverage for your business.

Whether you are a small business or a large corporation, Oakland Insurance Agency has the expertise to help you identify and manage your risks. Fill out our online form or give us a call today to learn more about the insurance solutions we can offer manufacturers in Michigan.

Each manufacturing business is unique and the insurance they need will depend on a variety of factors. Oakland Insurance Agency can help you assess your risks and determine the right coverage for your business.

General Liability Insurance 

As a manufacturer in Michigan, it's important to protect your business from any potential lawsuits or claims related to your products or operations. General liability insurance can help you cover the costs of legal fees, settlements and damages if someone sues you due to bodily injury, property damage, personal injury, or advertising-related harm caused by your company's activities.

• Bodily Injury - Includes any physical injury that occurs on your premises, such as a customer or employee slipping and falling
• Property Damage - Covers any damage to property, such as fire or vandalism
• Personal Injury - Includes slander, libel, and other types of verbal or written harm
• Advertising Injury - Helps protect you from any injury caused by your advertising activities, such as copyright infringement
• Medical Payments - Covers medical expenses for any injury that occurs on-site
• Defense Expenses - Covers legal fees associated with defending yourself in a lawsuit
• Product Liability - Protects you from any liability related to the use of your products
• Contractual Liability - This covers any liability you incur due to an agreement or contract that you or your company signed.

Working with a knowledgeable insurance agent who can help you choose the right coverage for your business is important.

Product Liability Insurance 

The core element of a manufacturer’s insurance policy, product liability insurance protects you from any claims related to the use of your products. It covers financial losses due to bodily injury, property damage, or personal injury stemming from using your products. For example, if a customer is injured by a product you manufactured, your product liability insurance will cover the legal fees and damages.

Professional Liability Insurance 

Also known as errors and omissions insurance, professional liability insurance helps protect you from any mistakes or negligence in the course of conducting business. It can cover legal fees, settlements, and any damages that arise from providing professional services. This coverage is especially important for businesses that offer consulting services or advise clients on finance, legal, or engineering matters.

Workers Compensation Insurance 

Any Michigan manufacturing business with employees needs to have workers' compensation insurance. This coverage helps protect your business from any claims related to workplace injuries or illnesses, such as medical expenses and lost wages. It also provides you with legal protection in the event of a lawsuit.

Commercial Property Insurance 

Commercial property insurance provides coverage for any damage to your premises or business assets due to fire, theft, vandalism, windstorms, and other perils. This coverage can help you recover the costs of replacing or repairing any damaged property. It also covers any lost income due to the interruption of business operations.

Commercial property insurance not only helps you keep your assets secured, but it can also help ensure that you meet any contractual or legal obligations in regard to your industry. 

For instance, if you're renting a warehouse or factory from somebody else, they may make it mandatory for you to have commercial property coverage in place. Similarly, if a loan on the premises needs paying back, then having ample protection is likely essential as requested by the lender.

Business Interruption Insurance 

Business interruption insurance helps protect you from any losses due to events that cause a suspension or disruption of your business operations. The coverage may include lost income, relocation costs, and other expenses related to continuing operations. It also covers any additional operating expenses that you incur due to the interruption. Business interruption insurance can help you keep your business running even when the unexpected happens.

Inland Marine Insurance 

Inland marine insurance helps cover any property or goods that are in transit over land or via an inland waterway. It can provide coverage for items like equipment, tools, and materials that are transported from one location to another by truck, rail, or boat. This type of insurance can help protect you against theft, damage, or destruction of your products while they are in transit.

Pollution Liability Insurance 

Pollution liability insurance safeguards you from any potential claims caused by ecological accidents or destruction due to your business activities. This protection covers anything from air, water, and soil contamination to legal fees and fines for breaching environmental guidelines. Furthermore, this coverage can help pay out compensation if an accident has resulted in damage of any kind.

Employment Practices Liability Insurance 

Employment practices liability insurance is designed to protect you from any claims related to wrongful dismissal, discrimination, sexual harassment, and other employment-related issues. This coverage helps pay for the cost of defending against these types of legal claims and any settlements or judgments that may arise. It can provide valuable protection if your business is ever the target of an employment lawsuit.

Cyber Liability Insurance 

Cyber liability insurance helps cover any losses or damages related to a data breach, cyber attack, or other digital security incidents. 

Cyber liability insurance can help you cover costs associated with notifying customers, restoring the system and recovering data, credit monitoring for affected individuals, legal fees, customer settlements, and more. This type of coverage is essential for businesses that handle sensitive customer data or are reliant on technology in their day-to-day operations.

Motor Vehicle Fleet Insurance

Motor vehicle fleet insurance helps cover any losses or damages to vehicles used for business purposes. Auto fleet insurance typically includes liability coverage, physical damage coverage, and uninsured motorist protection.

This type of coverage can help pay for repairs to any business-owned vehicles that are damaged in an accident and any medical costs to injured parties or other damage claims. It can also provide additional financial protection if the driver is uninsured or underinsured. The minimum liability requirements for fleet insurance in Michigan are $20,000 for an individual injury or death and $40,000 for multiple injuries or deaths.