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Wire Manufacturers Insurance Policy Information

Wire Manufacturers Insurance

Wire Manufacturers Insurance. Wire - typically defined as a circular length of metal, resembling a string - comes in a breathtaking variety of different forms with an equally broad range of usages.

Wire manufacturers produce electrical wires, mesh for construction work, pins, nails, chain, cable metal fencing, and screens. Steel wire is usually made from purchased metal rods, but makers of non-ferrous wire may have their own foundry. The rods are cleaned in an acid bath, lubricated, heated, and drawn through a series of progressively narrower dies.

This procedure changes the composition as well as the diameter of the wire. The wire may then be annealed, heat-treated, electroplated, coated, "jacketed" (insulated, as for electrical wiring), wrapped, or twisted into wire rope or cable. The finished wire is coiled onto large drums for shipping.

From wire rope that binds multiple strands of wire together to create strong cables capable of heavy industrial lifting to the kind of single-strand wire used in the manufacture of coat hangers or shopping carts, wires play a vital role in many aspects of everyday life.

Copper, aluminum, and stainless steel, and chromium are among the most common metals used to make wire. Electrical wires, coated with protective plastic, are another common type of wire.

Although the wire manufacturing process is highly dependent on the type of wire being produced, one shared factor across wire manufacturers is a reliance on valuable machinery such as steel bobbins, presses, and machines that cut wires to their intended length.

Wire manufacturers will strive to run a safe, smooth, and profitable operation, but just like any other business owner, they are also vulnerable to a spectrum of perils that could ultimately have disastrous financial consequences.

This is why it is so important to have the right wire manufacturers insurance coverage they need to protect their companies.

Wire 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 wire manufacturing insurance questions:

What Is Wire Manufacturers Insurance?

Wire manufacturers insurance is a type of insurance coverage specifically designed for companies that manufacture wire products. This insurance provides protection against financial losses that may arise from a variety of potential risks such as liability claims, property damage, theft, and business interruption.

The coverage can include protection against risks related to the production and distribution of wire products, including product liability, general liability, workers' compensation, and property damage. This type of insurance is essential for wire manufacturers to protect their assets, operations, and reputation in the industry.

How Much Does Wire Manufacturers Insurance Cost?

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

Why Do Wire Manufacturers Need Insurance?

Insurance For Manufacturers

Accidents can happen at any time - and an employee becoming injured in the workplace, a manufacturing error leading your product to malfunction and causing costly damage to consumers, or the bursting of a pipe damaging your building are just three examples of mishaps that could prove to be extremely costly.

Other adversities that could threaten a company that manufactures wires include acts of nature like wildfires or earthquakes, or criminal acts such as theft and vandalism.

Valuable machinery that is crucial to your production line could break down, and the costs you incur will not only include its repair or replacement, but also revenue lost due to business interruption.

When you run a company, especially within the field of manufacture, considering the possible risks is crucial. Without the right insurance on your side, the cost of these and other calamities would rest squarely on the company's shoulders.

Some costs may be manageable, while others could threaten the very future of your wire-manufacturing business. Wire manufacturers need to be armed with wire manufacturers insurance coverage so that they will know that these possible threats will not stand in the way of their success.

What Type Of Insurance Do Wire Manufacturers Need?

Companies that make wires of diverse kinds will need to carry several types of insurance to guard their financial interests. The exact forms of coverage that will benefit them depend on factors such as the location of their manufacturing facility, their number of employees, the kind of wire they make and the raw materials they use, and the type of machinery they rely on.

Because the best insurance plans are custom-made, partnering with a skilled commercial insurance agent is invaluable as you evaluate your insurance needs.

The broker you choose will certainly advise you to incorporate the following types of wire manufacturers insurance into your plan:

  • Commercial Property: This key type of insurance is designed to protect your commercial property in case of unexpected events like theft or natural disasters. It helps to cover the costs of damage to any physical asset; both your building and its contents are protected.
  • Commercial General Liability: Designed to protect your company against the reality of this highly-litigious world, you may think of commercial general liability insurance as a key part of your legal defense strategy. Whether a third party becomes injured within your facility or your company's activities damage a building that belongs to someone else, this most general form of liability insurance covers attorney fees and settlement costs.
  • Product Liability: This type of wire manufacturers insurance coverage, meanwhile, specifically pertains to the product you manufacture - in this case, wires. Whether third parties are physically injured after contact with your product or the malfunctioning of a product leads to property damage, product liability insurance has you covered.
  • Workers' Compensation: Should an employee become injured at work or sustain an occupational illness due to causes as varied as repetitive stress or exposure to heavy metals, this type of insurance covers their medical expenses and any wages lost while they are recovering and cannot work.

Wire manufacturers should keep in mind that specific insurance plans offer diverse levels of coverage, and costs likewise vary. They should also be aware that these four types of insurance may not make up a comprehensive wire manufacturers insurance plan.

This is why it is crucial to consult a seasoned commercial insurance broker, who can help you design a custom insurance plan.

Wire Manufacturing's Risks & Exposures


Premises liability exposure is low due to limited access by visitors. If tours are given or outsiders are allowed on premises, visitors may be injured by slips, trips, or falls. The storage of wire spools in the open could pose an attractive nuisance hazard unless the yard is fenced with proper lighting and warnings.

Fumes and noise from processing, particularly if there is a foundry, may affect neighboring properties.

Products liability exposure depends on the final usage of the wire. Electrical wire may cause significant losses if it fails, especially if it is used for high-voltage situations. Failure of wire rope used to lift heavy items can result in bodily injury and property damage.

Medical, dental, or other health care uses may carry significant risks. Severe losses could result from product failure in automotive, aerospace, or military applications. Quality control of wire conductivity and strength should be performed.

Environmental impairment exposures may be significant due to possible contamination of ground, air, and water from the degreasers, solvents, chemicals to clean or coat, and their storage and disposal. There may be outdoor or underground storage tanks on premises with the potential for spillage and contamination.

If there are underground tanks, a UST policy may be required. Disposal of wastes must adhere to all federal and state guidelines.

Workers compensation exposures are very high due to the possibility of burns from molten metal or chemicals. Injuries from production machinery are common, as are minor cuts, slips, trips, and falls, foreign objects in the eye, back injuries from lifting, hearing loss from noise, and repetitive motion hazards. 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. Chemical burns and eye, skin, and lung irritants can present long-term occupational disease.

If the insured conducts foundry operations, workers can be affected by exhaustion and dehydration from the high, intense heat.

Property exposure consists of an office, shop, and warehouse or yard for storage of raw materials and finished goods. Ignition sources include electrical wiring, heating systems, and production machinery, annealing, heat treating, and electroplating. Wear and tear, overheating of machinery, and spills of molten metal may result in a fire.

Poor housekeeping, such as failure to collect and dispose of trash on a regular basis, could contribute significantly to a loss. Degreasers, solvents, chemicals to clean or coat, and other flammables must be adequately controlled. Unless disposed of properly, greasy, oily rags (such as those used to clean machinery) can cause a fire without a separate ignition source.

The stock itself is not usually susceptible to fire or water damage and is not a target item for theft. If there is a foundry, hazards are more severe.

Equipment breakdown exposures include malfunctioning production equipment, electrical control panels, and other apparatus. A lengthy breakdown to production machinery could result in a severe loss, both direct and under time element.

Crime exposures are from employee dishonesty and theft, particularly if there are exotic metals. 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), 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. The primary causes of loss are collision or overturn.

Business auto exposure is high if the manufacturer picks up large loads of raw material and delivers drums of coiled metal wire to customers. Transportation of large and heavy loads requires careful loading and tie-down to prevent shifts that could cause collision, overturn, or dumping of the load during transport. Manufacturers generally have private passenger fleets used for sales.

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 Wire Manufacturers Insurance Cover & Pay For?

Wire Manufacturers Insurance Claim Form

Wire manufacturers can be sued for a variety of reasons. Here are some examples, with each followed by an explanation of how insurance can help mitigate the financial impact of these lawsuits.

1. Product Liability: If a wire manufacturer's product is defective or causes harm to a user, they could face a product liability lawsuit. For example, if a wire overheats and causes a fire, the manufacturer could be held liable for property damage and personal injury.

Insurance Coverage: Product liability insurance would provide coverage in this case. It can help pay for the legal fees associated with defending the claim, as well as any settlements or judgments that may be awarded if the company is found liable.

2. Breach of Contract: If the wire manufacturer fails to deliver the product on time or does not meet the specifications as agreed in a contract, they could be sued for breach of contract. For instance, if the wire's quality or dimension doesn't match what was agreed upon, it could lead to substantial losses for the customer.

Insurance Coverage: Commercial general liability (CGL) insurance often includes coverage for such legal disputes. If the insurer agrees that the claim falls within the policy's coverage, it can pay for legal defense costs, settlements, and judgments.

3. Environmental Damage: The process of manufacturing wires might lead to pollution or other forms of environmental damage. If a company is found to be disposing of waste improperly or causing harm to the environment, they could face legal actions from regulatory bodies or affected parties.

Insurance Coverage: Environmental liability insurance can protect businesses in these cases. It covers the costs of cleaning up environmental damage and can also cover the costs associated with legal claims arising from such damage.

4. Workplace Accidents: If an employee is injured on the job due to unsafe working conditions, the manufacturer could be held liable. For instance, if an employee is injured by machinery used in the wire production process, they might sue the company for damages.

Insurance Coverage: Workers' compensation insurance is designed to cover these types of risks. This insurance not only helps cover medical expenses and lost wages for the injured employee but also provides some liability coverage for the employer in case of a lawsuit.

5. Intellectual Property Infringement: If a wire manufacturer is accused of infringing on another company's patent or design, they could face a lawsuit. For example, if they produce a wire that another company claims is too similar to their patented design, a legal battle could ensue.

Insurance Coverage: Intellectual property insurance can provide coverage in these scenarios. It can help pay for the costs associated with defending against these claims, including legal fees and any damages that might be awarded.

It's important to note that the actual coverage provided by any insurance policy will depend on its specific terms and conditions. As such, wire manufacturers should work closely with their insurance brokers or agents to ensure they have adequate coverage for their specific risks.

Commercial Insurance And Business Industry Classification

Description for 3315: Steel Wiredrawing And Steel Nails And Spikes

Division D: Manufacturing | Major Group 33: Primary Metal Industries | Industry Group 331: Steel Works, Blast Furnaces, And Rolling And Finishing Mills

3315 Steel Wiredrawing And Steel Nails And Spikes: Establishments primarily engaged in drawing wire from purchased iron or steel rods, bars, or wire and which may be engaged in the further manufacture of products made from wire; establishments primarily engaged in manufacturing steel nails and spikes from purchased materials are also included in this industry. Rolling mills engaged in the production of ferrous wire from wire rods or hot-rolled bars produced in the same establishment are classified in Industry 3312. Establishments primarily engaged in drawing nonferrous wire are classified in Industry Group 335.

  • Barbed and twisted wire: made in wiredrawing plants
  • Baskets, steel: made in wiredrawing plants
  • Brads, steel: wire or cut
  • Cable, steel: insulated or armored
  • Chain link fencing, steel: made in wiredrawing plants
  • Fence gates, posts, and fittings: steel-made in wiredrawing plants
  • Form ties, made in wiredrawing plants
  • Horseshoe nails
  • Nails, steel: wire or cut
  • Paper clips, steel: made in wiredrawing plants
  • Spikes, steel: wire or cut
  • Staples, steel: wire or cut
  • Steel wire cages, made in wiredrawing plants
  • Tacks, steel: wire or cut
  • Tie wires, made in wiredrawing plants
  • Welded steel wire fabric, made in wiredrawing plants
  • Wire carts: household, grocery, and industrial-made in wire-drawing
  • Wire cloth, steel: made in wiredrawing plants
  • Wire garment hangers, steel: made in wiredrawing plants
  • Wire products, ferrous: made in wiredrawing plants
  • Wire, ferrous: made in wiredrawing plants
  • Wire, steel: insulated or armored

Description for 3357: Drawing And Insulating Of Nonferrous Wire

Division D: Manufacturing | Major Group 33: Primary Metal Industries | Industry Group 335: Rolling, Drawing, And Extruding Of Nonferrous

3357 Drawing And Insulating Of Nonferrous Wire: Establishments primarily engaged in drawing, drawing and insulating, and insulating wire and cable of nonferrous metals from purchased wire bars, rods, or wire. Also included are establishments primarily engaged in manufacturing insulated fiber optic cable. Establishments primarily engaged in manufacturing glass fiber optic materials are classified in Industry 3229, and those manufacturing fabricated wire products from purchased wire are classified in Industry 3496.

  • Apparatus wire and cord made in wiredrawing plants
  • Automotive and aircraft wire and cable, nonferrous
  • Cable, nonferrous bare, insulated, or armored
  • Coaxial cable, nonferrous
  • Communications wire and cable, nonferrous
  • Cord sets, flexible made in wiredrawing plants
  • Fiber optic cable
  • Magnet wire, insulated
  • Shipboard cable, nonferrous
  • Signal and control cable, nonferrous
  • Weatherproof wire and cable, nonferrous
  • Wire cloth, nonferrous: made in wiredrawing plants
  • Wire screening, nonferrous: made in wiredrawing plants
  • Wire, nonferrous: bare, insulated, or armored

Wire Manufacturers Insurance - The Bottom Line

Not every wire manufacturers insurance policy offer the same coverages and exclusions. To learn if your wire manufacturing operation has the best fit insurance policies - chat with experienced business insurance agent.

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

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

The manufacturing industry is a vital part of the economy and plays a significant role in the production of goods and services. However, it is also an industry that is prone to risks and accidents, which can result in costly damages and lawsuits. Therefore, it is essential for businesses in the manufacturing industry to have insurance to protect them against potential losses.

Business insurance can cover a wide range of risks, including property damage, liability, and worker injuries. For instance, if a fire were to break out in a manufacturing facility and destroy equipment or inventory, commercial insurance could cover the costs of replacing or repairing the damages. Similarly, if a worker were to be injured on the job, business insurance could cover medical expenses and lost wages.

In addition to protecting against physical damages, insurance can also provide financial protection against legal liabilities. If a customer were to sue a manufacturing business for a faulty product, the commercial insurance could cover the costs of legal fees and settlements.

Overall, insurance is essential for the manufacturing industry as it helps to mitigate risks and protect against unexpected costs. Without it, businesses in the industry could face financial ruin in the event of an accident or lawsuit.

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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