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Stone Products Manufacturers Insurance Policy Information

Stone Products Manufacturers Insurance

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:

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?

Insurance For Manufacturers

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.

Commercial Insurance And Business Industry Classification

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

Description for 3291 Abrasive Products

Division D: Manufacturing | Major Group 32: Stone, Clay, Glass, And Concrete Products | Industry Group 329: Abrasive, Asbestos, And Miscellaneous

3291 Abrasive Products: Establishments primarily engaged in manufacturing abrasive grinding wheels of natural or synthetic materials, abrasive-coated products, and other abrasive products. The cutting of grindstones, pulpstones, and whetstones at the quarry is classified in Division B, Mining.

  • Abrasive buffs, bricks, cloth, paper, sticks, stones, wheels, etc.
  • Abrasive grains, natural and artificial
  • Abrasive-coated products
  • Abrasives, aluminous
  • Aluminum oxide (fused) abrasives
  • Boron carbide abrasives
  • Bort, crushing
  • Buffing and polishing wheels, abrasive and nonabrasive
  • Cloth: garnet, emery, aluminum oxide, and silicon carbide coated
  • Corundum abrasives
  • Diamond dressing wheels
  • Diamond powder
  • Emery abrasives
  • Garnet abrasives
  • Grinding balls, ceramic
  • Grindstones, artificial
  • Grit, steel
  • Hones
  • Metallic abrasives
  • Oilstones, artificial
  • Pads, scouring: soap impregnated
  • Paper: garnet, emery, aluminum oxide, and silicon carbide coated
  • Polishing rouge (abrasive)
  • Polishing wheels
  • Pumice and pumicite abrasives
  • Rouge, polishing
  • Rubbing stones, artificial
  • Sandpaper
  • Scythe-stones, artificial
  • Silicon carbide abrasives
  • Sponges, scouring: metallic
  • Steel shot abrasives
  • Steel wool
  • Tripoli
  • Tungsten carbide abrasives
  • Wheels, abrasive: except dental
  • Wheels, diamond abrasive
  • Wheels, grinding: artificial
  • Whetstones, artificial

Description for 3292 Asbestos Products

Division D: Manufacturing | Major Group 32: Stone, Clay, Glass, And Concrete Products | Industry Group 329: Abrasive, Asbestos, And Miscellaneous

3292: Asbestos Products: Establishments primarily engaged in manufacturing asbestos textiles, asbestos building materials, except asbestos paper, insulating materials for covering boilers and pipes, and other products composed wholly or chiefly of asbestos. Establishments primarily engaged in manufacturing asbestos paper are classified in Industry 2621, and those manufacturing gaskets and packing are classified in Industry 3053.

  • Asbestos cement products: e.g., siding, pressure pipe, conduits, ducts
  • Asbestos products: except packing and gaskets
  • Blankets, insulating for aircraft: asbestos
  • Boiler covering (heat insulating material), except felt
  • Brake lining, asbestos
  • Brake pads, asbestos
  • Building materials, asbestos: except asbestos paper
  • Carded fiber, asbestos
  • Cloth, asbestos
  • Clutch facings, asbestos
  • Cord, asbestos
  • Felt, woven amosite: asbestos
  • Floor tile, asphalt
  • Friction materials, asbestos: woven
  • Insulation, molded asbestos
  • Mattresses, asbestos
  • Millboard, asbestos
  • Pipe and boiler covering, except felt
  • Pipe covering (insulation), laminated asbestos paper
  • Pipe, pressure: asbestos cement
  • Roofing, asbestos felt roll
  • Rope, asbestos
  • Sheet, asbestos cement: flat or corrugated
  • Shingles, asbestos cement
  • Siding, asbestos cement
  • Table pads and padding, asbestos
  • Tape, asbestos
  • Textiles, asbestos: except packing
  • Thread, asbestos
  • Tile, vinyl asbestos
  • Tubing, asbestos
  • Wick, asbestos
  • Yarn, asbestos

Description for 3295: Minerals And Earths, Ground Or Otherwise Treated

Division D: Manufacturing | Major Group 32: Stone, Clay, Glass, And Concrete Products | Industry Group 329: Abrasive, Asbestos, And Miscellaneous

3295 Minerals And Earths, Ground Or Otherwise Treated: Establishments operating without a mine or quarry and primarily engaged in crushing, grinding, pulverizing, or otherwise preparing clay, ceramic, and refractory minerals; barite; and miscellaneous nonmetallic minerals, except fuels. These minerals are the crude products mined by establishments of Industry Groups 145 and 149, and by those of Industry 1479 mining barite. Also included are establishments primarily crushing slag and preparing roofing granules. The beneficiation or preparation of other minerals and metallic ores, and the cleaning and grading of coal, are classified in Division B, Mining, whether or not the operation is associated with a mine.

  • Barite, ground or otherwise treated
  • Barium, ground or otherwise treated
  • Blast furnace slag
  • Clay for petroleum refining, chemically processed
  • Clay, ground or otherwise treated
  • Desiccants, activated: clay
  • Diatomaceous earth, ground or otherwise treated
  • Feldspar, ground or otherwise treated
  • Filtering clays, treated purchased materials
  • Flint, ground or otherwise treated
  • Foundry facings, ground or otherwise treated
  • Fuller's earth, ground or otherwise treated
  • Graphite, natural: ground, pulverized, refined, or blended
  • Kaolin, ground or otherwise treated
  • Lead, black (natural graphite): ground, refined, or blended
  • Magnesite, crude: ground, calcined, or dead-burned
  • Mica, ground or otherwise treated
  • Perlite aggregate
  • Perlite, expanded
  • Plumbago: ground, refined, or blended
  • Pulverized earth
  • Pumice, ground or otherwise treated
  • Pyrophyllite, ground or otherwise treated
  • Roofing granules
  • Shale, expanded
  • Silicon, ultra high purity: treated purchased materials
  • Slag, crushed or ground
  • Spar, ground or otherwise treated
  • Steatite, ground or otherwise treated
  • Talc, ground or otherwise treated
  • Vermiculite, ex-foliated

Description for 3296: Mineral Wool

Division D: Manufacturing | Major Group 32: Stone, Clay, Glass, And Concrete Products | Industry Group 329: Abrasive, Asbestos, And Miscellaneous

3296 Mineral Wool: Establishments primarily engaged in manufacturing mineral wool and mineral wool insulation products made of such siliceous materials as rock, slag, and glass, or combinations thereof. Establishments primarily engaged in manufacturing asbestos insulation products are classified in Industry 3292, and those manufacturing textile glass fibers are classified in Industry 3229.

  • Acoustical board and tile, mineral wool
  • Fiberglass insulation
  • Glass wool
  • Insulation: rock wool, fiberglass, slag, and silica minerals
  • Mineral wool roofing mats

Description for 3299: Nonmetallic Mineral Products, Not Elsewhere Classified

Division D: Manufacturing | Major Group 32: Stone, Clay, Glass, And Concrete Products | Industry Group 329: Abrasive, Asbestos, And Miscellaneous

3299 Nonmetallic Mineral Products, Not Elsewhere Classified: Establishments primarily engaged in the factory production of goods made of plaster of paris and papier-mache, and in manufacturing sand lime products and other nonmetallic mineral products, not elsewhere classified.

  • Architectural sculptures, plaster of paris: factory production only
  • Art goods: plaster of paris, papier-mache, and scagliola
  • Blocks, sand lime
  • Brackets, architectural: plaster-factory production only
  • Built-up mica
  • Ceramic fiber
  • Columns, papier-mache or plaster of paris
  • Ecclesiastical statuary: gypsum, clay, or papier-mache-factory
  • Floor composition, magnesite
  • Flower boxes, plaster of paris: factory production only
  • Fountains, plaster of paris: factory production only
  • Gravel painting
  • Images, small: gypsum, clay, or papier-mache-factory production only
  • Insul-sleeves (foundry materials)
  • Mica products, built-up and sheet except radio parts
  • Mica splitting
  • Mica, laminated
  • Moldings, architectural: plaster of paris-factory production only
  • Ornaments and architectural plaster work: e.g., mantels and columns
  • Panels, papier-mache or plaster of paris
  • Pedestals, statuary: plaster of paris or papier-mache-factory
  • Plaques: clay, plaster, or papier mache-factory production only
  • Sculptures, architectural: gypsum, clay, or papier-mache-factory
  • Statuary: gypsum, clay, papier-mache, scagliola, and metal-factory
  • Stucco
  • Synthetic stones, for gem stones and industrial use
  • Tile, sand lime
  • Tubing for electrical purposes, quartz
  • Urns, gypsum or papier-mache: factory production only
  • Vases, gypsum or papier-mache: factory production only

Stone Products Manufacturers Insurance - The Bottom Line

Stone products manufacturers insurance policies can be very different in premium and coverages. You can discover if your manufacturing business has the best fit insurance policies by talking to an experienced commercial insurance broker.

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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