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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:

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.

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.

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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