Manufacturing & Wholesale
As a manufacturer or wholesaler there are many potential risks affecting your business. These risks include theft and damage to equipment, health and safety of the public and your workforce, and fire and flood damage.
Allied Insurance Services has many years of experience in providing insurance to manufacturers and wholesalers.
We appreciate that businesses working within this sector are unique and have their own specific requirements. We work with all sizes of manufacturers and wholesalers and whichever trade you are in, we can provide the right insurance advice for your business.
Risks that your business could face can range from theft or damage to property or equipment, an injury to an employee or member of the public, breakdown of machinery, through to fire and flood risks.
If any of these things happen to your business, this can be extremely damaging and can affect its day to day running. Our experienced team will undertake a full review of your needs and we will ensure that you have the right level of cover, so that your manufacturing or wholesale business is protected against all risks.
A Typical Package
A typical Manufacturing & Wholesale insurance package will include the following covers:
Buildings insurance covers your property in terms of the structure and the permanent fixtures and fittings.
If you own plant and equipment and it is damaged, stolen, or is at risk from fire or any other losses, whether on your own premises or in transit, ‘Own Plant and Equipment Insurance’ will provide essential cover against these potential risks.
If you’re hiring in an item of plant or equipment you will need ‘Hired in Plant and Equipment Insurance’. Many hirers won’t hire to you unless you have proof of this cover. However, if you only hire plant and equipment occasionally, the Allied team can discuss short-term measures for the smaller periods of time when your cover is needed.
Stock in trade insurance covers your stock if it is stolen, damaged or destroyed, and pays out the money to replace it.
Public/products liability insurance covers your legal liability to pay compensation for injury to third parties or damage to a third parties’ property
Money covers insurance protects you against theft of money at your business premises, at home, or in transit
Employers liability insurance covers your legal liability for injury to employees, incurred during their employment
Business interruption insurance provides cover for loss of profit because of a material damage claim at your premises and the following interruption to the day to day running of your business.
Legal expenses insurance is available in many forms and is designed to help protect businesses, employees, families, and landlords. If you or your business could face legal disputes including employment and contract disputes, tax investigations, or you need a legal defence, you should consider legal expenses insurance to protect you against potentially significant costs arising from a variety of legal disputes.
Cyber and data breach insurance will provide your business with financial protection from, system downtime following a cyber attack, regulatory awards and fines or penalties imposed against you for data breaches. It also covers potential third-party damages and the costs associated with an investigation in relation to a potential cyber attack, data breach or notification.
Goods in transit covers loss of or damage to stock whilst in transit, or whilst being loaded and unloaded.
All risks cover covers certain items for loss, damage, or theft, when they are outside of your premises.
Premises insurance protects your business for damage to the buildings and contents of the business, for example stock and machinery.
Frequently Asked Questions
We have tried to answer some of the most common questions we get asked below.
How do I calculate my sum insured for machinery and plant?Insurers look for a reinstatement cost i.e. to replace as new. However, some insurers will agree to a ‘sum insured’ which includes deduction for wear and tear which is classed as insured on an indemnity basis.
My stock levels continually fluctuate, how can I accommodate this?Stock can be put onto a declaration basis where you supply a figure each month, detailing where stock levels sit. Or you can insure the stock on a stock throughput policy which caters for such fluctuations. Call the Allied team to discuss your requirements to ensure that your insurance policy meets your needs.
My building has composite panel linings, Is this important to insurers?Yes, very much so. Insurers will only accept certain type of lining on buildings and this must be advised to insurers before cover can be provided.
Do I need a sprinkler system in my factory?This depends on the square footage of the factory, the amount of fire breaks in the factory and the type of work processes undertaken.
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