Stone Products Manufacturers Insurance Policy Information

Stone Products Manufacturers Insurance. When the average person considers the possible uses of stone, the construction industry is bound to come to mind first - but although stone is a vital part of modern architecture and infrastructure, the industrial applications of stone stretch far beyond these fields.

Stone product manufacturers produce a variety of products ranging from abrasives used in sandpaper and toothpaste to mineral wool and crystal used for different kinds of insulation to end products such as grinding stones.

The raw materials may be purchased from others or mined at the manufacturer's own quarries. After mining, raw materials are run through several crushing and mixing operations to attain the required coarseness.

The proper proportions of materials are mixed, and then possibly baked in a kiln (either dry or wet) before being combined with necessary additives. There may be additional grinding operations to form powders.

Not only can end products such as grindstones and monuments be manufactured with stone, stone and stone dust also see wide usage in products most people would not immediately consider. Toothpaste and sandpaper may both feature stone dust, for instance, along with insulators for electrical appliances.

Companies that manufacture stone products reflect the wide range of possible applications of stone, and can vary enormously in scope and size. All manufacturers of stone products share one thing in common, however, and that is risk.

Any number of unforeseen circumstances can threaten a company making stone products, and that is why it is vital to invest in excellent insurance. What kind of stone products manufacturers insurance coverage is right for a company in this field?

Stone products 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 stone products manufacturing insurance questions:

What Is Stone Products Manufacturers Insurance?
How Much Does Stone Products Manufacturers Insurance Cost?
Why Do Stone Products Manufacturers Need Insurance?
What Type Of Insurance Do Stone Products Manufacturers Need?
What Does Stone Products Manufacturers Insurance Cover & Pay For?

What Is Stone Products Manufacturers Insurance?

Stone products manufacturers insurance is a type of insurance coverage specifically designed for companies that manufacture or produce stone products, such as marble, granite, limestone, or slate.

This type of insurance provides protection for the business against a variety of risks, including damage or loss of products, liability claims from customers, injury or property damage from equipment or machinery, and financial losses resulting from natural disasters or other types of business interruption.

The specific coverage options and policy limits will vary based on the individual needs of the business and the type of stone products being manufactured.

How Much Does Stone Products Manufacturers Insurance Cost?

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

Why Do Stone Products Manufacturers Need Insurance?

While those who own and operate a company making stone products will strive to ensure that their business is successful, risk is an inherent part of running a company.

A firm that makes stone products will have to contend with risks universal to all commercial ventures and those specific to their own industry alike. For a company that is not adequately insured, any setback can easily prove to be ruinous.

Examples of risks faced across all industries are theft and vandalism (far broader than smashing a window or applying spray paint, this type of crime even includes arson). Acts of nature like wildfires, earthquakes, or storms, too, are inescapable and carry the potential of ravaging your facility and everything within it.

Companies that manufacture stone products further have to consider the risk that an employee becomes injured while engaged in production, or ill after inhaling stone dust.

The same can hold true for third parties present on your premises, and the possibility that your company inadvertently damages property belonging to someone else is another that can be associated with massive costs.

Liability risk does not end after you sell your product; should a third party suffer financial or bodily harm after using a product you manufactured, lawsuits are probable.

Not all perils can be prevented. With the correct stone products manufacturers insurance coverage, however, your company can prepare for major hazards - and recover from them should they strike your business.

What Type Of Insurance Do Stone Products Manufacturers Need?

The category of stone products being an extremely broad one, the insurance needs of companies within this field will vary quite widely. The nature of the products you make, the equipment you rely on, the location and type of your facility, and your number of employees are only some examples of variables that influence what coverage is essential to protect your business.

For this reason, you will need to consult a commercial insurance broker to craft an individualized insurance plan for your business.

Among the essential types of stone products manufacturers insurance they will recommend are:

Commercial Property: This type of insurance shields your company from the financial consequences of severe property damage or loss. Generally, damage or loss resulting from theft, vandalism, and acts of nature (often excluding floods, for which you may require a separate insurance plan) is covered. Commercial property insurance protects not just your building, but also machinery and other assets.
General Liability: Another form of stone products manufacturers insurance coverage no manufacturer can do without, this type of insurance will have your back in the event that a third party alleges that your company caused bodily injury or property damage. The legal costs that ensue are covered.
Product Liability: This type of liability coverage pertains directly to products you make, including those that are then incorporated into goods produced by someone else. Should stone dust made by you be present in toothpaste manufactured by someone else, and that toothpaste causes harm to an end user, for example, your company may be implicated in a lawsuit. Product liability coverage is there for cases like that.
Workers Compensation: This type of insurance is straightforward but essential; in the event that an employee sustains an injury or occupational illness (such as from exposure to stone dust), it covers the medical expenses that follow. For employees who need to take leave after an occupational injury, missed wages are also paid.

Bear in mind that more stone products manufacturers insurance policies may be needed, depending on the operation's risk profile. To discover more, your next step should be to consult a commercial insurance agent.

Stone Products Manufacturing's Risks & Exposures

Premises liability exposures are generally low due to limited access by visitors. If tours are given or if outsiders are allowed on premises, visitors may be injured by slips, trips, or falls. The piles of stone waiting to be crushed or in a hopper and the equipment in the open present an attractive nuisance to trespassers, especially children.

Fumes, dust and noise may affect neighbors. This can result in a high frequency of nuisance claims, but may also cause serious health problems due to the generation of silica dust. If there is a quarry, hazards increase, particularly if the location is not fenced and monitored while not in use. The edge of a quarry is commonly a cliff, presenting a significant fall hazard.

Blasting operations pose high exposures as neighboring properties may be damaged, either directly or by shock waves.

Products liability exposure varies by the end use of the product. While the end use of most products has very low liability potential, asbestos products can cause severe lung damage, and the failure of load-bearing structural components may result in the collapse of an entire building.

If asbestos products are not mixed to specifications, there could be a serious loss, particularly if use is for fireproofing applications.

There should be good quality control procedures in place, with checks conducted to detect cracks, blemishes or other defects. If customized work is handled, there should be a contract outlining the product specifications and requirements of quality control.

Environmental impairment exposure is moderate to high due to the potential for air, land, and water pollution from dust and fuel storage tanks. Most stone product manufacturers will have fuel tanks on premises and may require a UST policy. Vapors, fumes and air pollutants, waste water and by-products disposal must be evaluated and controlled.

Disposal procedures must adhere to all EPA and other regulatory standards. Reclamation procedures should be in place to control the impact of the quarrying operation. There is the possibility of claims for cumulative structural damage to neighboring foundations from the heavy traffic of quarry operations.

Workers compensation exposures are serious even if there is no quarry. Injuries from production machinery are common, as are minor cuts, burns, slips, trips, falls, foreign objects in the eye, back injuries from lifting, hearing loss from noise, and repetitive motion losses. Workstations should be ergonomically designed. Employees should be provided with safety training and protective equipment.

Areas that generate dust require respiratory protection devices, as well as eye protection and eye wash stations. The high volume required for production schedules may lead workers to remove guards from the machinery, or to postpone maintenance and repair. The manufacturing processes are usually automated, but workers can be injured during maintenance and fueling of machinery. Exposures to rock dust may cause skin, eye and respiratory irritations, some potentially severe.

Exposure to rock dust and silica may cause serious skin, eye and respiratory irritations, and lead to occupational diseases such as Silicosis or Shaver's Lung. Stone-cutting operations can result in injuries from flying chips and debris, or from being crushed by falling stone.

Property exposures consist of office, production plant and warehouse for raw materials and finished goods. Ignition sources include electrical wiring, heating systems, production machinery, kilns, and the storage of large amounts of fuel to run, lubricate, and maintain them. The machinery is normally large and may convey heavy loads. Maintenance is critical to prevent overheating and other potential fire hazards.

Sparks or high temperatures may ignite dust particles generated by cutting or buffing, resulting in fire or explosion. Adequate dust control and ventilation systems are needed. Fuels stored on premises should be separated from processing areas.

Some types of stone may be brittle and subject to breakage; neither the raw materials nor the finished products are susceptible to fire, water or smoke damage. Explosives used in blasting operations may explode and are targets for theft.

Equipment breakdown exposures include malfunctioning production equipment, dust collection and ventilation systems, electrical control panels and other apparatus. These should be properly maintained and records kept in a central location. A lengthy breakdown could result in serious loss, both direct and under time element.

Crime exposure comes from employee dishonesty. 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.

There should be security methods in place to prevent theft, especially if explosives are on premises.

Inland marine exposures include accounts receivable if the manufacturer offers credit, computers (which may include computer-run production equipment), goods in transit and valuable papers and records for customers' and suppliers' information. Backup copies of all records should be made and stored off premises.

Stock in transit may be susceptible to damage from breakage in a collision or overturn, and possibly theft. There will be a contractor's equipment exposure if there is a quarry.

Business auto exposure can be high if the manufacturer has a quarry, picks up raw materials or delivers finished goods to customers. There should be tie down controls in place to prevent materials from flying off of the vehicles. Delivery to jobsites may involve travel on uneven terrain and temporary roads, increasing the risks of upset and overturn.

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.

What Does Stone Products Manufacturers Insurance Cover & Pay For?

Stone Products Manufacturers Insurance Claim Form

Stone products manufacturers may face various types of lawsuits due to a range of potential issues, from product liability to workplace accidents. Insurance policies can provide a financial safety net to address these liabilities. Here are some examples:

1. Product Liability: A stone product manufacturer can be sued if their products cause harm or damage. For instance, if a countertop shatters unexpectedly, injuring a customer, they could sue for medical expenses, lost wages, and other damages. In this case, product liability insurance can step in. It covers the cost of legal defense, any settlements, or court-ordered judgments up to the policy limits. This insurance is designed to protect businesses from financial loss when their products are found to be defective and cause harm to consumers.

2. Workplace Accidents: If a worker gets injured while operating machinery or due to unsafe work conditions, the manufacturer could face a lawsuit. Workers' compensation insurance can help here. This type of insurance covers medical costs and a portion of lost wages for an employee who gets hurt on the job. In many cases, when workers accept these benefits, they give up the right to sue their employer, limiting the company's liability.

3. Property Damage: If a fire, flood, or other disaster damages the manufacturing facility, a lawsuit could potentially arise from clients or suppliers who suffer losses as a result of disrupted production. Commercial property insurance would cover the costs of repairing or replacing the damaged property, ensuring that the manufacturer can quickly return to normal operations and mitigate any potential lawsuits related to the disruption.

4. Environmental Liability: Stone product manufacturers could also face legal action if their activities lead to environmental damage. For example, improper disposal of waste materials could contaminate local water sources. Environmental liability insurance could cover the legal and clean-up costs associated with such incidents. These policies often cover a range of environmental damage, including pollution that affects air, soil, and water.

5. Professional Negligence: If a stone product manufacturer gives incorrect advice or makes an error in a service, they could be sued for professional negligence. For instance, if they incorrectly instruct a contractor on how to install a product, resulting in property damage or injury, they could face legal action. Professional liability insurance, also known as errors and omissions (E&O) insurance, can protect against these types of claims. It covers legal defense costs, settlements, and judgments related to claims of professional negligence.

Insurance policies are vital for stone product manufacturers, providing financial protection against a wide array of potential lawsuits. By selecting the right combination of policies, manufacturers can ensure that they're covered against the most likely risks in their industry.

Commercial Insurance And Business Industry Classification

SIC CODE: 3274 Lime, 3291 Abrasive Products, 3292 Asbestos Products, 3295 Minerals And Earths, Ground Or Otherwise Treated, 3296 Mineral Wool, 3299 Nonmetallic Mineral Products, Not Elsewhere Classified
NAICS CODE: 327410 Lime Manufacturing, 327991 Cut Stone and Stone Product Manufacturing, 327993 Mineral Wools Manufacturing, 327999 All Other Miscellaneous Nonmetallic Mineral Product Manufacturing
Suggested Workers Compensation Code(s): 1699 Rock Wool Manufacturing, 1803 Stonecutting or Polishing NOC & Drivers, 1741 Flint or Spar Grinding & Drivers, 1748 Abrasive Wheel Manufacturing & Drivers, 1853 Mica Goods Manufacturing & Mica Preparing

Description for 3274: Lime

Division D: Manufacturing | Major Group 32: Stone, Clay, Glass, And Concrete Products | Industry Group 327: Concrete, Gypsum, And Plaster Products

3274 Lime: Establishments primarily engaged in manufacturing quicklime, hydrated lime, and "dead-burned" dolomite from limestone, dolomite shells, or other substances.

Agricultural lime
Building lime
Dolomite, dead-burned
Dolomitic lime
Hydrated lime
Lime plaster
Masons' lime
Quicklime