Auto Parts Manufacturers Importers General Liability Insurance

What is General Liability Insurance?

General liability insurance covers claims that arise when you or one of your employees injures a client or bystander or damages their property. Your employees manufacture and import non-critical auto parts. This means that they're expected to handle auto parts, assemble them as needed, and ship them off when finished to customers. At any point in that cycle, your employees are susceptible to mistakes. No one is perfect. When mistakes and accidents happen, you'll need general liability insurance to cover the costs.

Why is General Liability Insurance Necessary?

General liability insurance is necessary for several reasons. Many employers won't work with you unless you can show that you have adequate levels of insurance. They frequently check to make sure that you have general liability insurance to ensure that the project isn't stopped or threatened when one of your employees injures a client or damages property.

General liability insurance will save you money in the long-run. Yes, you'll have to pay a premium, but that's much better than having to shell out thousands, if not tens of thousands of dollars in extreme circumstances. You never know when the next accident is going to happen, and you can't prevent all incidents. Plan ahead and make sure you have general liability insurance.

What Other Types of Insurance Should You Consider?

Most Non-critical auto parts manufacturers importers general liability program insurance policies cover claims that involve bodily or personal injury and/or property damage. There are many other types of insurance that you should consider before you open your business. Workers' compensation is mandatory in most states. Workers' compensation covers claims that arise when an employee is injured at work and while the employee is within the course and scope of his/her employment. Without it, you could be ordered to pay for medical expenses and lost wages for your employees out of pocket.

Any company that manufactures products should have a products liability insurance program in place. This will protect the manufacturer if one of their products is to blame for an injury or loss to property. You should also think about getting property and equipment insurance. Chances are, you have expensive pieces of machinery that you need to keep up and running. Property and equipment insurance will give you the peace of mind that comes with knowing an insurance company has your back if one of your machines stops working.

If you own company vehicles, especially if you transport goods to clients, then you need automobile coverage. Without you, you'll have to foot the bill when one of your employees is involved in a car accident at work. Many large insurance companies now offer group plans that combine different forms of insurance. Speak with an insurance representative and determine what will be included in your general liability insurance package.
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