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Worker's Compensation Insurance:

If you have employees, whether you have a few employees or a large number of employees you are going to need this type of insurance. In fact in most states this type of insurance is required for all businesses, but in some industries it is more important than others because of the nature of the work and the risk of accidents. But basically this type of insurance is used to protect employees who have been injured on the job. Basically this type of insurance will pay for medical coverage for employees who are injured at work and it will also pay benefits to the employees if they have to miss work, basically it will give them some type of income while they are unable to work. How you obtain this insurance coverage can be one of two ways either you get it through the state or through a commercial insurance firm, this depends on where you live.

Product liability insurance:
This type of insurance is similar to liability insurance, but this insurance is going to protect you if you are selling products. As a manufacturer the chances are that you are going to be making products that are going to be sold to the public and without this type of insurance if something goes wrong with the product that your company made your company is going to be responsible. Basically what is going to happen is that your insurance coverage is going to protect your company from having to pay directly out of pocket. But if the product is faulty due to your design then you are still going to be held liable, the only way you won't be responsible is if the consumer did not use the product safely and did not follow the safety regulations on the package. This type of insurance is in addition to liability insurance.

Property insurance:
This type of insurance is going to insure your buildings, equipment and other physical assets. This type of insurance is available through commercial insurance companies. This type of insurance is used to cover your physical assets against a wide range of things. Even if you do not own the factory that you are using for your manufacturing business you will still want to get property insurance so that your machines are covered, as well as anything else that you own. This type of insurance will help you to be able to rebuild your manufacturing business in case something goes wrong, such as a fire or theft. If you don't have this type of insurance then you will have to start all over without help.

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