All metal, machine and tool shops and workers are exposed to unique types of risks due to the nature of their work. The products they manufacture and sell, the manufacturing process, it’s all exposed to a wide range or unpredictable risks that might endanger the well-being of workers and customers, including the products and business property as well.
The heavy machinery and equipment required for the manufacturing process that is involved in the handling, storage, and production are risky enough by their own nature. Such machines and equipment pose a reasonable hazard that might lead to serious injuries to the workers.
Therefore, regardless of the business size, whether it’s large or small shops in question, all shops need proper insurance coverage to keep workers, products, customers and business property safe.
Melton McFadden is a leading source for comprehensive tool and die machine insurance plans. If you’re the proud owner of a manufacturing shop, get insured today with Melton McFadden!
Small Machine Shop Insurance
Your equipment and machinery can be easily covered with our trusted small machine shop insurance as this type of insurance covers heavy equipment and machinery. Mostly considered as business personal property, it’s more cost-efficient to cover heavy equipment on a separate endorsement or policy which works best for small machine shops.
This type of coverage policy is less expensive, and it allows you to clearly specify the perils to ensure against, as well as the amount of coverage.
It’s also possible to determine additional expenses such as property damage due to utility power failure or electrical disturbances, as well as income loss caused by a mechanical breakdown or physical loss.
Machine Shop Insurance Cost
When it comes to machine shop insurance cost, it all depends on commercial general liability. To determine the cost, absolute and strict liability usually involves claims that are a direct result of business operations, personal injury, and premises liability. When setting the price for tool and die machine insurance, at Melton McFadden, we take absolute and strict liability into our consideration.
Then, there’s the issue of workers compensation in case funding for employee injuries is needed. In any case, every shop and manufacturer of heavy equipment and machines, as well as those who work with the heavy lifting of steel, metal, and iron, needs tool and die machine insurance to stay protected at all times.
Get insured for the most reasonable price today with Melton McFadden – the leader in Michigan small machine shop insurance!