Advanced manufacturing is included in one of the top nine industries driving New Jersey’s economic growth. With over five thousand companies operating within this industry and over 150,000 people employed, special attention is given to the liability and insurance needs for the industry. NJ manufacturers insurance brokers are well-equipped to address the risks and exposures those in the industry face.
Types of Coverage
There are several variations of manufacturing jobs within the industry, and each is faced with some general coverage needs. These include:
- General liability
- Commercial property
- Business auto
- Workers compensation
However, the diversity of operations between products and personnel might require a policy more tailored to specific needs. Manufacturing services can include food and beverage, steel, plastic or even publishing and printing. When you think of the unique risks represented, any NJ manufacturers insurance should be able to provide custom policies or endorsements.
Bundling general coverage with secondary policies is another way to ensure comprehensive coverage. Companies may want to consider adding a business owner’s policy to their commercial general liability, with inclusions of errors and omissions, product recall, equipment breakdown coverage, crime or cargo transit endorsements. Your insurance broker will be able to perform a risk assessment and determine the best policy coverage for your company.