Communications Equipment Manufacturers Insurance

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Communications Equipment Manufacturers Insurance Policy Information

Communications Equipment Manufacturers Insurance

Communications Equipment Manufacturers Insurance. Manufacturers within the field of communications and intercommunications make a vital contribution to the functioning of modern society.

They may manufacture finished products or components that will later be incorporated into other equipment, and the types of products they make or play a role in making are as diverse as telephones, modems, LANs, cables, broadcasting equipment, and satellite communication systems.

Communications or intercommunications equipment manufacturers produce telephones, data communications equipment, modems, local area networks (LANs), radios, televisions, broadcasting equipment, cables, global positioning systems (GPSs), pagers, and satellite communication systems.

The manufacture of these items involves a variety of operations. The equipment's housing can be made of plastic, wood, or metal. The interior contains the electrical wiring and electronic circuitry.

The different phases of manufacture may be carried out in different locations or different countries. Separate divisions or independent firms (subcontractors) may handle a single aspect of the process, such as producing circuit boards. Some manufacturers may subcontract the separate operations and simply perform the final assembly.

Companies working within this fast-paced and ever-evolving field are more aware than anyone that change is always on the horizon. That change can come in the form of exciting innovations, but it may just as easily take the shape of calamities that pose a serious risk to a company's survival.

Should a company fall victim to an unforeseen and disastrous event, the right communications equipment manufacturers insurance program can come to the rescue - but what types of insurance are vital for manufacturers in the communications and intercommunications industry?

Communications equipment manufacturers insurance protects your manufacturing business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked communications equipment manufacturing insurance questions:


How Much Does Communications Equipment Manufacturers Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small communications equipment manufacturing businesses ranges from $57 to $79 per month based on location, size, revenue, claims history and more.


Why Do Communications Equipment Manufacturers Need Insurance?

Insurance For Manufacturers

Every business faces risks that can have serious financial repercussions, and the communications field is no different. Both threats shared by all business owners and perils exclusive to your own industry have the potential to endanger your current and future revenue - and without the proper insurance, the entire burden would fall on your shoulders.

Examples of perils virtually any company can come face to face with include criminal acts like theft and vandalism, including arson. Acts of nature, including serious storms and earthquakes, are another universal threat.

These unforeseen circumstances cannot be planned for, but may seriously damage or destroy your facility and the assets within it at any time.

Then, there are risks more specific to the communications field. The breakout of a fire, the malfunction of a product leading to an explosion, or damaging an end user's financial health, and worker exposure to hazardous substances such as xylene, ammonia, or phosphine, are merely some examples of things that could go wrong.

Not all disasters can be prevented, but thankfully, communications equipment manufacturers insurance is available so that your company can recover from the setback. Knowing that you are correctly insured, your company can focus on what it does best with peace of mind.


What Type Of Insurance Do Communications Equipment Manufacturers Need?

complex, and no two businesses within this industry are alike. Your exact insurance needs are determined by factors that include your manufacturing facility's location, the nature of the equipment or components you produce, the value of your manufacturing equipment, and how many workers you employ.

A seasoned commercial insurance broker is best placed to help you create an insurance program tailored to your needs. Examples of the types of communications equipment manufacturers insurance that plan will need to include are:

  • Commercial Property: This type of insurance is designed to protect your physical property - your building, machinery, raw materials, and finished products, among others - in case of perils such as fire and theft. It may further cover revenue lost due to these disasters.
  • Commercial General Liability: Designed to cover third party bodily injury and property damage resulting from accidents on your premises or caused by your company's activities, this kind of communications equipment manufacturers insurance covers your legal fees as well as any settlement costs.
  • Product Liability: Simply said, product liability insurance covers your attorney fees and settlement payouts in the unfortunate event that a product you manufactured causes physical injury or property damage to an end user. That includes components incorporated into other products.
  • Workers Compensation: In the event that an employee sustains an on-the-job injury for which your company could be held responsible, or suffers an occupational illness (such as a long-term respiratory condition), this type of insurance handles the resulting costs. That includes medical bills, but also any wages an employee loses due to illness-related absences from work that can follow a workplace accident.


Alongside these essential forms of insurance, companies that produce communications equipment are also highly likely to require commercial auto, cyber, inland marine, and business interruption insurance.

A trusted commercial insurance broker will have your back and guide you through the process of acquiring the communications equipment manufacturers insurance coverage that best shields your company from all possible risks.

Communications Equipment Manufacturing's Risks & Exposures

Manufacturing

Premises liability exposure is normally low as access by visitors is limited. If the manufacturer conducts tours or has a showroom or retail outlet, visitors may be injured by slips, trips, or falls. Fumes, dust, and noise from woodwork or metalwork could affect neighbors.

If the manufacturer installs equipment on customers' premises, there may be a frequency of property damage claims. There may be significant off-premises exposures at promotional events.

Products liability exposure varies depending on the type of equipment and the customer. A malfunction in the wiring could present a fire or electrocution hazard, such as products designed for use in kitchens and baths. Sharp edges could result in cuts and other injuries.

Small parts in electronics designed for children's use could present a choking hazard. Cords and cables represent a potential tripping hazard. Any device used to help in distress situations such as baby monitoring devices or off-site life support notification would pose a high potential for loss and require additional evaluation.

Warning labels regarding dangers of personal injury are important, but provide only limited defense, especially in the case of household products.

Older appliances made before improved safety features were introduced may still be in use.

Environmental impairment liability exposure may be very high due to possible contamination of ground, air, and water from chemicals and toxic lubricants, solvents and paints. The type of housing manufactured may also affect hazards.

For plastics, the raw materials may be toxic and are flammable, the catalysts may be caustic, and the final product is usually not biodegradable. For wood and metal, contaminants may come from the chemicals, paints, and solvents used. Storage and disposal procedures must adhere to all EPA and other regulatory standards.

Workers compensation exposure can be very high. Injuries from production machinery are common, as are minor cuts, puncture wounds, burns, foreign objects in the eye, hearing impairment from noise, slips, trips, falls, back injuries from lifting, and repetitive motion injuries. Working with electronics can result in electrocution.

Workstations should be ergonomically designed. The high volume required for production schedules may lead workers to remove guards on the machinery, or to postpone maintenance and repair to increase production. Chemical exposures could result in skin and eye irritations, as well as respiratory problems.

Employees must be fully informed as to the potential effects of the chemicals, including long-term occupational disease hazards so that they can be aware of warning symptoms and obtain treatment as early as possible. Production incentives can be a disincentive to safety if the only consideration is by piece production.

Property exposures consist of office, plant, and warehouse for storage of raw materials and finished goods. Ignition sources include heating and cooling equipment, production machinery, electrical panels, and the build-up of dust from the cutting and sanding that can cause fire and explosion. The risk increases in the absence of proper dust collection systems, ventilation, and adequate disposal procedures.

Paints, lubricants, degreasers, and solvents can be flammable and must be adequately separated and stored away from other operations. Plastic work may include molding or extrusion. Metal housing may require soldering, electroplating, or annealing. Welding and soldering must be done away from combustibles and flammable liquids. Wood and metal may be painted by spray or in dip tanks. Spray painting operations can cause a fire unless carried out in spray booths with explosion-proof electrical components.

Without a sterile environment, circuitry may be contaminated by dust or damaged by static electricity. Electronic circuitry has a high susceptibility to smoke and other contamination. Fire suppression systems designed to protect the building may cause serious losses to the sensitive circuitry.

Communications equipment may be targeted for theft. Appropriate security controls should be taken including physical barriers to prevent entrance to the premises after hours and an alarm system that reports directly to a central station or the police department.

Equipment breakdown exposures include breakdown losses to the building services systems, malfunctioning production equipment, dust and ventilation systems, electrical control panels and other apparatus. Breakdown and loss of use to the conveyor and other production machinery could result in a significant loss, both direct and under time element.

Crime exposure comes from employee dishonesty and theft of circuitry, precious metal plating in the fixtures, and high-end products. Employees may act alone or in collusion with outsiders in stealing money, raw materials, or finished stock.

Background checks should be conducted on all employees. There must be a separation of duties between persons handling deposits and disbursements and handling bank statements. The manufacturer should have security methods in place to prevent theft.

Inland marine exposures include accounts receivable if the manufacturer offers credit, computers (which may include computer-run production equipment), exhibitions, goods in transit, and valuable papers and records for customers' and suppliers' information.

If the manufacturer installs equipment on customers' premises, there may be an installation floater exposure. Stock in transit is susceptible to damage from fire, breakage, water damage, collision or overturn, and especially theft.

Commercial exposure may be high if the manufacturer picks up raw materials or delivers finished goods to customers. Because the goods are high crime target items, vehicles transporting the product should be unmarked and have appropriate crime protective devices.

Manufacturers generally have private passenger fleets used by sales representatives. There should be written procedures regarding the private use of these vehicles by others. Drivers should have an appropriate license and an acceptable MVR. All vehicles must be well maintained with documentation kept in a central location.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 3661 Telephone And Telegraph Apparatus, 3663 Radio And Television Broadcasting And Communications Equipment, 3669 Communications Equipment, Not Elsewhere Classified
  • NAICS CODE: 334210 Telephone Apparatus Manufacturing, 334220 Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing
  • Suggested ISO General Liability Code(s): 59695, 51926, 51927, 51205, 51206
  • Suggested Workers Compensation Code(s): 3681, 3574, 3179

Description for 3661: Telephone And Telegraph Apparatus

Division D: Manufacturing | Major Group 36: Electronic And Other Electrical Equipment And Components, Except Computer Equipment | Industry Group 366: Communications Equipment

3661 Telephone And Telegraph Apparatus: Establishments primarily engaged in manufacturing wire telephone and telegraph equipment. Included are establishments manufacturing modems and other telephone and telegraph communications interface equipment. Establishments primarily engaged in manufacturing cellular radio telephones are classified in Industry 3663.

  • Auto-transformers for telephone switchboards
  • Carrier equipment, telephone and telegraph
  • Communications headgear, telephone
  • Data sets, telephone and telegraph
  • Facsimile equipment
  • Headsets, telephone
  • Message concentrators
  • Modems
  • Multiplex equipment, telephone and telegraph
  • Switchboards, telephone and telegraph
  • Switching equipment, telephone
  • Telegraph office switching equipment
  • Telephone answering machines
  • Telephone central office equipment, dial and manual
  • Telephone dialing devices, automatic
  • Telephone sets, except cellular radio telephone
  • Telephone station equipment and parts, wire
  • Telephones, sound powered (no battery)
  • Telephones underwater
  • Toll switching equipment, telephone

Description for 3663: Radio And Television Broadcasting And Communications Equipment

Division D: Manufacturing | Major Group 36: Electronic And Other Electrical Equipment And Components, Except Computer Equipment | Industry Group 366: Communications Equipment

3663 Radio And Television Broadcasting And Communications Equipment: Establishments primarily engaged in manufacturing radio and television broadcasting and communications equipment. Important products of this industry are closed-circuit and cable television equipment; studio equipment; light communications equipment; transmitters, transceivers and receivers (except household and automotive); cellular radio telephones; communication antennas; receivers; RF power amplifiers; and fixed and mobile radio systems. Establishments primarily engaged in manufacturing household audio and video equipment are classified in Industry 3651; those manufacturing intercommunications equipment are classified in Industry 3669; and those manufacturing consumer radio and television receiving antennas are classified in Industry 3679.

  • Airborne radio communications equipment
  • Amplifiers: RF power and IF
  • Antennas, transmitting and communications
  • Broadcast equipment (including studio), radio and television
  • Cable television equipment
  • Cameras, television
  • Carrier equipment, radio communications
  • Cellular radio telephones
  • Citizens' band (CB) radios
  • Closed circuit television equipment
  • Digital encoders
  • Encryption devices
  • Light communications equipment
  • Marine radio communications equipment
  • Microwave communications equipment
  • Mobile communications equipment
  • Multiplex equipment, radio
  • Pagers (one-way)
  • Phototransmission equipment
  • Radio and television switching equipment
  • Radio receiver networks
  • Radio transmitting and communications antennas and ground
  • Receivers, radio communications
  • Satellites, communications
  • Space satellite communications equipment
  • Studio equipment, radio and television broadcasting
  • Telemetering equipment, electronic
  • Television monitors
  • Television transmitting antennas and ground equipment
  • Transceivers
  • Transmitter-receivers, radio
  • Transmitting apparatus, radio and television

Description for 3669: Communications Equipment, Not Elsewhere Classified

Division D: Manufacturing | Major Group 36: Electronic And Other Electrical Equipment And Components, Except Computer Equipment | Industry Group 366: Communications Equipment

3669 Communications Equipment, Not Elsewhere Classified: Establishments primarily engaged in manufacturing communications and related equipment, not elsewhere classified. Important products of this industry are intercommunication equipment, traffic signaling equipment, and fire and burglar alarm apparatus.

  • Burglar alarm apparatus, electric
  • Fire alarm apparatus, electric
  • Fire detection systems, electric
  • Highway signals, electric
  • Intercommunications equipment, electronic
  • Marine horns, electric
  • Pedestrian traffic control equipment
  • Railroad signaling devices, electric
  • Signaling apparatus, electric
  • Signals: railway, highway, and traffic-electric
  • Sirens, electric: vehicle, marine, industrial, and air raid
  • Smoke detectors
  • Traffic signals, electric

Communications Equipment Manufacturers Insurance - The Bottom Line

All communications equipment manufacturers insurance policies are not designed the same. To see if your manufacturing business has the best fit insurance policies - speak with an experienced commercial insurance agent.

Often they are able to save you on premiums and offer you better policy options than you currently have.

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

Additional Resources For Manufacturing Insurance

Learn all about manufacturing insurance. Manufacturers face many unique risks such as product libility and/or product recall exposures due to the nature of their business operations.


Manufacturing Insurance

For manufacturers, having the proper coverage is very important. You will need Products/Completed Operations Liability Coverage to protect you against injuries or property damage cause my the products you make or sell.

Manufacturing is an extremely broad category that includes countless potential hazards and exposures in virtually all coverage areas. Because of this, every individual manufacturer is unique and a specific risk survey of every operation is advisable.

The basic insurance needs for every class of business or operation includes property coverage for buildings, machinery and equipment, as well as for raw stock and finished products.

Liability insurance for premises exposures is important but products liability insurance presents greater concerns so these exposures and coverage needs must be evaluated carefully.

In addition, protection for injuries to workers, environmental coverages and automobile insurance are priority items.

What does the insured does that could result in a covered loss? The insuring agreement only requires that the insured be legally obligated to pay damages for injury to others or damage to their property included within the products-completed operations hazard covered by the insurance.

Because of this, every product manufactured and completed operation exposure for each named insured must be determined, described and evaluated to be certain that each represents acceptable exposures, or are acceptable classes of business to the insurance company providing coverage.

Once the extent of all business activities and operations is determined, the process of identifying hazards begins. The first step in the process is completely listing and describing all current products being manufactured and projects being worked on.

The next step is obtaining the same information for discontinued products and completed projects for the past five to 10 years, depending on the products or projects involved. This should include an explanation of why the products were discontinued. If some completed projects were of a different type than those currently being worked on, an explanation is in order, including whether the insured may resume them in the future.

Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income with Extra Expense, Equipment Breakdown, Employee Dishonesty, Accounts Receivable, Computers, Goods in Transit, Valuable Papers and Records, General Liability, Employee Benefits Liability, Environmental Impairment Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.

Other commercial insurance policies to consider: Earthquake, Flood, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.


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