What is Manufacturers Insurance?
Manufacturers Insurance is designed to protect manufacturing businesses against the wide range of risks they face in their day-to-day operations. Manufacturing environments often involve complex processes, specialist machinery, valuable equipment, and materials, all of which can be exposed to risks such as accidents, fire, theft, equipment breakdown, and other unexpected events.
At Nova Insurance, policies can be tailored to meet your business’s specific needs. Cover typically includes a combination of:
- Property Insurance
- Employers’ Liability
- Public Liability
- Product Liability
- Business Interruption and other essential protections
Manufacturers Insurance is essential for safeguarding your business against potential financial losses, helping you maintain stability and continue operating with confidence in the face of unexpected incidents.
What Does Manufacturers’ Insurance Cover?
At Nova Insurance, our Manufacturers’ Insurance is designed to be flexible and tailored to your business’s specific needs. Cover options can include protection for your equipment, operations, and liabilities to help keep your business running smoothly.
Cover for Tools, Patterns and Moulds
We can arrange adequate protection for your valuable tools, patterns, and moulds, whether they are stored at your premises or held at third-party storage locations.
Engineering Insurance
Breakdown of critical manufacturing machinery can disrupt your operations. Engineering insurance provides cover for sudden and unexpected mechanical or electrical breakdown of essential equipment.
Business Interruption – Suppliers and Customers Extension
If a key supplier fails to deliver materials or services and this affects your production or output, we can extend your business interruption cover to help protect your income during the disruption.
Liability Insurance
If you employ staff, Employers’ Liability insurance is a legal requirement. This cover can be arranged alongside Public Liability and Product Liability insurance to protect your business against claims for injury, property damage, or issues arising from your products or services.
Why Nova Insurance for manufacturers insurance?
Arranging the right cover for a manufacturing business takes specialist knowledge and a genuine understanding of how factories operate.
Our experienced, UK based team is available six days a week and will take the time to understand your operations, identify the risks that matter most and build a policy around them. With more than thirty years of experience and over 27,000 clients placing their trust in us, we know what it takes to protect a manufacturing business properly.
Specialist Manufacturing Knowledge
Our experienced advisors understand the unique risks of factories and production environments, building each policy around the way your business actually operates.
Cover from Leading UK Insurers
We work with trusted names such as Aviva, AXA, Allianz, QBE and Zurich, comparing options on your behalf to find the right protection at a competitive price.
Straightforward Claims Support
If the worst happens, our dedicated claims team handles the process on your behalf, working with insurers to get your business back up and running as quickly as possible.
The Risks Facing Modern Manufacturers
Manufacturing carries a level of risk that many other industries simply do not face. A single fire can destroy stock, machinery and premises in a matter of hours. A flood can halt production for weeks. The theft of specialist tools or metals can bring an entire production line to a standstill while replacements are sourced.
Beyond physical damage, manufacturers also face liability risks. Employees work with machinery, chemicals and heavy materials every day, and even the most safety conscious workplace can experience an accident. Once your products leave the factory, you remain responsible for them. If a fault in something you have made causes injury or damage, the resulting claim could be substantial. A properly structured insurance programme protects you on every front.
Cover for Stock, Raw Materials and Finished Goods
Your stock is your livelihood. We can arrange cover for raw materials awaiting production, work in progress on the factory floor and finished goods waiting to be despatched. Cover can also be extended to protect stock held at other locations, such as warehouses or the premises of your customers and suppliers. If your stock levels fluctuate through the year, seasonal increases can be built into your policy so you are never underinsured at your busiest times.
Engineering Insurance and Machinery Breakdown
Standard property insurance responds to events such as fire and flood, but it does not usually cover a machine that simply stops working. Engineering insurance fills that gap. It covers the sudden and unforeseen mechanical or electrical breakdown of essential plant, helping you fund repairs or replacement without draining your cash reserves.
Engineering cover can also include statutory inspection services. Equipment such as pressure vessels, boilers, lifting equipment and air receivers must be inspected at regular intervals to comply with UK law. Arranging inspection alongside your insurance keeps everything in one place and helps you stay compliant without additional administration.
Stock, Raw Materials and Work in Progress
Your stock is your livelihood, and in a manufacturing environment it exists in several forms at once. We can arrange cover for raw materials awaiting production, work in progress on the factory floor and finished goods waiting to be despatched. Cover can be extended to stock held at other locations, including third party warehouses and the premises of customers or suppliers.
Many manufacturers see significant seasonal variation in stock levels. If you build up stock ahead of busy trading periods, seasonal increases can be written into your policy so you are never underinsured at the times when you hold the most value on site.
Liability Cover for Manufacturers
Employers’ Liability Insurance
If you employ staff, Employers’ Liability insurance is required by law in the UK. Manufacturing workplaces involve machinery, manual handling, chemicals and noise, so the potential for workplace injury claims is higher than in many other sectors. This cover protects your business if an employee is injured or becomes ill as a result of their work, meeting the legal costs and any compensation awarded.
Public Liability Insurance
Public liability cover protects you if a visitor, contractor, delivery driver or member of the public is injured, or their property is damaged, in connection with your business activities. For a busy factory with regular deliveries, collections and site visits, this cover is essential.
Product Liability Insurance
Once your products leave the factory, your responsibility does not end. If a fault in something you have manufactured or supplied causes injury or property damage, the resulting claim could run into hundreds of thousands of pounds. Product liability insurance protects you against these claims, and we can arrange limits that reflect the nature of your products and the markets you sell into, including export markets where required.
Goods in Transit
Many manufacturers deliver finished products to customers or move materials between sites in their own vehicles. Goods in transit insurance protects your products while they are on the road, whether carried in your own vans and lorries or entrusted to a haulier. If goods are damaged, lost or stolen in transit, this cover helps you replace them quickly, protect your margins and keep your customers satisfied.
