Metalworkers Insurance: Making Sure You're Covered

With so many different machines, tools, and overall hazardous materials and conditions, metalworking companies tend to have higher risks than many other types of companies. For that reason, carrying adequate business insurance for metalworking companies is necessary to protect your company and its assets from costly lawsuits.

Metalworkers Insurance Basics
Your insurance should provide coverage for two basic things: replacement or repair of property such as machinery, equipment, and buildings; and costs associated with lawsuits.

When shopping for property insurance, make sure your coverage includes buildings, sheds, and garages along with your expensive tools and machinery. Your coverage should also include protection of your property while in transit to another location or on other premises. If you have company trucks or vehicles, you will also want to get a commercial auto policy.

Liability insurance covers costs associated with lawsuits, including defense costs and any judgments or settlements against you. Your business insurance for metalworking companies should include a minimum of:

  • General liability. This type of insurance covers injury and damage to other peoples' property that may occur on your premises.
  • Professional liability. Also known as errors and omissions insurance, it covers mistakes made that result in financial loss for your customers.
  • Product liability. This type of coverage insures the manufacturers of machinery and equipment are held responsible for any injury their products may have caused. For example, if a machine one of your workers is using malfunctions and causes an injury, product liability would go after the machine's manufacturer.
  • Workers compensation. This essential part of your metalworkers insurance covers the medical bills and lost wages of employees who are injured on the job.
  • Employment practices liability. In the event an employee sues your company for discrimination, sexual harassment, or wrongful termination, this will cover settlements and legal costs.

Other types of metalworkers insurance to consider include:

  • Systems breakdown. If electrical systems or heating and cooling systems malfunction and you are suddenly without essential power, this will cover costs associated with replacement to get your business up and running again.
  • Building ordinance. In the event you need to update your building to comply with local or federal regulations, this insurance will cover construction and building costs.
  • Umbrella insurance. This covers any gaps in your insurance policy. For example, if you are sued for $2 million and your insurance policy only covers $1.5 million, umbrella insurance covers the rest.

Saving on Your Metalworkers Insurance
Additional coverages, like many of those needed by metalworking companies, increase the overall cost of your policy. You can still get the coverage you need at an affordable price by shopping around and comparing quotes from various companies. is an excellent way to find out everything you need to know about business insurance for metalworking companies. Once you have a better idea of the type of insurance you need, you can get multiple quotes quickly and easily for free.

See how much you could save today on your insurance. Get your free business insurance quotes today!