Why You Need Red Deer Manufacturers Insurance
With over 250 manufacturers in the Red Deer area, one setback can leave you struggling against the competition. Whether your business manufacturers for oil & gas, agriculture, or retail, you should protect it with Red Deer manufacturers insurance. Manufacturers insurance can help your Red Deer business by helping to:
- Protect your property, equipment, raw materials, and finished products.
- Reduce the financial impact of a vendor delay or mistake, severe weather, or another disaster.
- Provide a safety net for your business.
- Help manage your risks.
- Protect your whole manufacturing process.
Red Deer is a hotbed for manufacturing but it’s also a place that experiences a lot of severe weather that can interrupt your operations. Manufacturers insurance is a specialized package for Red Deer businesses that helps you recover from disasters and keep your business up and running.
What’s covered with manufacturers insurance in Red Deer?
Your exact coverage will vary depending on your company’s needs and your individual policy. Here are a few coverages often included in a manufacturer’s insurance package for Red Deer:
- Property Insurance – Protects your company’s physical property including the premises (if you own them), equipment, inventory, and materials.
- Commercial General Liability – Basic liability insurance that can cover you in the event someone is hurt or has their property damaged at your business location.
- Product Liability – If the product fails to perform its function or causes damage to a person or their belongings, this coverage can protect you. You may opt for a specialized manufacturer’s errors & omissions coverage which is tailored for this industry.
- Equipment Breakdown – This provides coverage to replace or repair essential equipment for your operations.
- Business Interruption – Also known as income interruption insurance, this helps your business pay its bills in the event of a forced shutdown such as after an insured claim or a mandatory evacuation. Some policies include funds for temporary relocation to get you back up and running.
- Cyber Liability – If you use software or store any data electronically, you’re at risk for a data breach or cyber-attack. This coverage helps you recover in the event this happens to your company.
- Crime – Extends your coverage beyond theft and vandalism to include employee dishonesty, forgery, fraud, and other crimes.
- Product Recall – This coverage helps you through the expenses of a product recall, generally including the cost of notification, transport, shipping, storage and more.
- Transit Floater – This helps protect your manufactured goods or raw materials while they’re in transit to or from your business.
- Commercial Auto – If your business owns or operates any vehicles, you should have a commercial auto policy to ensure they’re adequately protected.
This isn’t an exhaustive list of coverage – your Red Deer manufacturer insurance broker will have details about your full options. They’ll also be able to help answer all of your questions and help you balance your insurance needs with your budget.
Who needs manufacturers insurance in Red Deer?
If you operate a manufacturing business in Red Deer, you need manufacturers insurance. This includes the following:
- Commercial printers
- Concrete manufacturers
- Food & beverage producers
- Machinery & equipment producers
- Metal fabrication
- Retail product manufacturers
- Any other company that takes raw materials and transforms them
Why is manufacturers insurance necessary in Red Deer?
Manufacturers insurance is designed to help reduce the financial burden after a disaster or major event such as severe weather, theft, a fire, or a lawsuit. These risks are present for every company in Red Deer, although your individual risk level will vary based on your business. Here are just some risks your business may face:
- Severe weather including flooding, winter storms, hail, and tornadoes
- Fire, including wildfire
- Crimes such as theft and vandalism
- Vehicle accidents damaging company vehicles or your raw materials or finished products en route
- Injury or property damage to third parties on your premises
- A data breach or cyber-attack
- Temporary forced closure due to mandatory evacuation or loss
- Product malfunction
- Breakdown of essential tools or equipment
Manufacturers insurance can help you recover if any of the above happens to your Red Deer business.
How much does manufacturers insurance cost in Red Deer?
The cost of manufacturers insurance in Red Deer will depend on a few factors, including:
- Your insurance and claims history
- Your manufacturing process
- Value of your product and contracts
- Yearly revenue
- Number of employees
- Location (where you operate)
- Your insurance options including type of coverage, policy limits, and deductible
Each insurance company may calculate rates differently which is another reason to get quotes from multiple companies. Our manufacturer insurance brokers in Red Deer can take care of this research and price shopping for you.
The Benefit of Working with Rogers Insurance
We began in Alberta and have been a trusted manufacturer insurance broker for Red Deer companies for decades. Independent and employee-owned, we don’t work for an insurance company – we work for you. Paired with our hands-on, human-first approach to insurance, you can trust in our expertise and customer service.
Since we work with a large number of insurance companies we can offer truly competitive manufacturers insurance quotes for Red Deer businesses. You’ll get a true choice with your coverage and we can help you balance your insurance needs with your company’s budget.
Our brokers are experienced, knowledgeable and professional. They’ll go the extra mile for your business and meet where it’s convenient for you. They can help you:
- Determine your insurance needs.
- Deliver competitive Red Deer manufacturers insurance quotes.
- Advise you on your insurance.
- Help with risk management.
- Advocate on your behalf in the event of a claim.
We also offer 24/7 self-serve policy management via an online portal or mobile phone app. You can view your policy documents and pink cards as well as request changes to your policy when it’s convenient for you.
Experience our approach yourself by requesting a manufacturers insurance quote online, by phone, or stop by our Red Deer office to meet the team for yourself.