Enameling Insurance Montana Policy Information
Enameling Insurance Montana. Enameling is an ages-old art that involves fusing powdered glass to metal at very high temperatures to create various decorative items, such as vases and jewelry. The process is complex and requires a great deal of patience and expertise.
Enameling is the coating of metal products with vitrified or porcelain enamel. The enamel protects the metal against rust or corrosion, scratches or abrasions and produces an attractive or more desirable finish. The metals to be treated are first degreased or otherwise cleaned.
The enamel coating can be applied by spraying, dipping, or electrical charge. The coated metal is then heated in an oven or furnace to harden and dry. Additional coatings are applied as needed.
If you are an enameller, there's no doubt that you have put a lot of hard work into your business. Setting up a studio, honing your craft, marketing, and making sure that you provide high-quality products that meet the needs of your clients, and so much more; you've put a lot into your business.
In order to protect yourself, your clients, and all other aspects of your venture, you need to take all of the necessary precautions. Of all of the investments that you can make in your business, there's one that tops the list: enameling insurance Montana.
Why is insurance so important for your enamellers? What type of coverage do you need? Read on to find the answers to these questions and to discover how to set yourself up for success.
Enameling insurance Montana protects enamellers from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Do Enameling Businesses Need Insurance?
Just like any other business owner, enameling professionals face several different types of risks; some of those risks are similar to the risks that businesses in any industry face, and some are unique to your specific profession.
For instance, your workshop could be damaged by an act of nature, a client could file a lawsuit against you, an employee could sustain an injury, or your operation could be shut down for a prolonged period of time. In the event that anything does go wrong, as the owner and operator of your MT enameling business, you are liable for the related expenses.
As you can imagine, the costs that are linked to accidents, errors, and any other unforeseen circumstances can be exorbitant. That's why it's so important to have enameling insurance Montana coverage; in the event that something does go wrong, instead of having to pay for the expenses out of your own pocket, your insurer will cover them for you. In other words, insurance coverage protects you from potential financial ruin.
In addition to the monetary protections that enameling insurance Montana provides, having coverage ensures that you are business is compliant with the laws. In most areas, business owners of most types are required to carry certain types of coverage - including enameling professionals.
What Type Of Insurance Do Enamellers Need?
There are many different types of insurance coverage that MT enamellers will need; however, it should be noted that the specific policies do vary and depend on several factors that relate to the unique needs of your venture.
The physical location of your business, the size of your operation, and the specific services you provide are just a few examples of the factors that will determine what type of enameling insurance Montana you'll need. For that reason, it's important to consult with a reputable agent who specializes in commercial insurance.
With that said, here's a look at some basic types of coverage that you should in carry.
- Commercial Property: In the event that your MT enameling business is impacted by an act of nature, theft, or vandalism, you'll need to have commercial property insurance. This type of coverage is designed to protect the physical structure of your business, as well as the contents within it. For instance, if a fire breaks out in your studio, this policy will cover the cost of any damages and will help to replace anything that can't be repaired.
- Commercial General Liability: This type of coverage covers the cost of third-party property damage and personal injury liability claims. For instance, if a vendor were to slip and fall while dropping off a delivery on your commercial property and they filed a lawsuit against you, this type of coverage would cover the related expenses.
- Workers Compensation: This coverage will help to pay for the medical care that an employee may require if they were to suffer a work-related injury. It would also compensate them for lost wages if they were unable to work as a result of their injury.
These policies are just a few examples of the kinds of enameling insurance Montana you'll need to carry as an MT enameller.
MT Enamellers' Risks & Exposures
Premises liability exposure may be limited if there is no outside yard for storage of raw materials or finished items. Larger items stored in the yard could present attractive nuisance hazards.
Fencing must be in place with appropriate warning signs to prevent trespassing, with security guards provided as necessary. Kilns may catch fire and spread fumes and debris to neighboring buildings.
Products liability exposure can be significant depending on the final use of the product being enameled. Since enameling provides protection from rust and corrosion, product failure due to rust could have serious consequences.
Quality control procedures should be documented. If products are enameled only for the sake of appearance, the product liability is very limited.
Environmental impairment exposure is high because of the fuel used to heat the kilns and the use of solvents and toxic chemicals to clean metal. Storage and waste disposal must comply with all Environmental Protection Agency (EPA) requirements.
Silica is used and may cause air pollution if released. Chemical leaks and wastewater may contaminate air, ground water or land. Any underground storage will require the purchase of a UST policy.
Workers compensation exposure is high. Employees are routinely exposed to chemicals during processing and to machinery hazards which can cause respiratory problems and irritate skin, lungs, and eyes. Silica may be used, which can result in occupational disease.
Back injuries from lifting and slips and falls are common. The heat generated is very high and can cause exhaustion and burns. Personal protective equipment is required.
Property exposure includes an office, processing area, and storage of raw materials and finished goods. Ignition sources include furnaces kept at temperatures well over 1,000 degrees. Flammables include fuel for the furnaces, degreasers, solvents, pigments, or additives to the coatings. Each of these has different degrees of flammability and should be well separated from the furnace area.
The raw materials do not add to the fire load, because neither the metal nor the enamel is flammable. The final products are not highly susceptibly to damage due to the coating. Machinery should be well maintained to prevent problems due to overheating or power surges.
Lost business income in the event of a direct damage loss could be lengthy as replacement facilities may not be readily available.
Crime exposure is from employee dishonesty. Background checks should be conducted prior to hiring any employee. Ordering and inventory control should be under separate supervisors to discourage theft.
All ordering, billing and disbursements must be handled as separate job duties and regularly audited. Physical inventories should be conducted on a regular basis to prevent employee theft of equipment and stock.
Inland marine exposure comes from accounts receivable, bailees' for customers' items being processed, computers, and valuable papers and records. Normally the enameller is handling property of others which must be recorded, tracked and returned in at least as good a condition as they came.
There may be a transportation exposure, with the enameller responsible for any damage that may occur to customers' goods being transported.
Business auto exposure is moderate to high if the processor performs pickup or delivery of products. Since enameling consists of so many different products of varying sizes and shapes, the evaluation of the exposure must be dependent on the final product handled
Larger items may be awkward and difficult to load and tie-down. Very heavy items may shift during transport, resulting in overturn or collision. Proper tie down procedure are critical.
Drivers should have commercial driver's licenses (CDL's) and their MVRs should be checked regularly. Vehicles and any tie-down equipment must be well maintained and documented.
Enameling Insurance - The Bottom Line
As mentioned, in order to determine exactly what kind of enameling insurance Montana coverage you'll need to fully protect your dealership, speak with a reputable broker who specializes in commercial insurance.
Montana Economic Data, Regulations And Limits On Commercial Insurance
Thinking about starting a new business? Already own a successful business and want to expand your operations? Whatever the case may be, if you want to experience as much success as possible, you are going to want to ensure you choose the best possible location for your specific industry.
No matter how outstanding your goods and services may be, if the area where your business is located doesn't offer a healthy climate that will support your company, chances are you'll struggle to succeed.
If you are thinking about opening up a business in Montana, being familiar with the state's economic trends can help you determine if it's a good location for you. It's also wise to know what type of insurance you'll need to invest in so that you can plan ahead.
With that said, below, we provide an overview of the economic trends in the state of Montana, as well as the commercial insurance requirements for business owners in the Treasure State.
Economic Trends For Business Owners In Montana
As of December, 2019, the Bureau of Labor Statistics reported that the unemployment rate in the state of Montana was 3.4%; that's 0.1% lower than the national average, which was 3.5% at the same time. This rate remained steady throughout the entire 2019 fiscal year, and it is expected to either continue remaining steady or improve in coming years, according to economists.
Unemployment rate is a vital statistic for business owners, as it indicates the job market of a location, which is a strong determining factor in the success of businesses in the region.
There are several areas throughout the state of Montana that are seeing economic booms and where businesses are flourishing. Among those locations include the following cities and the areas that surround them:
- Great Falls
Several industries are seeing substantial growth in MT; however, there are particular sectors that are really thriving in Montana. Among those sectors include:
- Advanced manufacturing
- Hospitality and tourism
- Information technology
- Oil and gas production
- Retail development
If you are considering opening a business in any of the above-mentioned areas, your chances of success in Montana are favorable.
Commercial Insurance Requirements In Montana
The Office of the Montana State Auditor, Commissioner of Securities and Insurance regulates insurance in MT. Montana mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Montana requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Montana also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Miscellaneous Insurance
Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.
- Adult Daycare Insurance
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- Bail Agent
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An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.
Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.
Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.
An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.
Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.
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