Textile and garment manufacturers generally manufacture products and sell them to retail outlets or shopping malls. Some textile manufacturers provide their goods to other end product manufacturer who further makes clothing, household furnishings and other good. The owner of the textile manufacturing company need to keep track of their customer orders, employee schedules, payment and deliveries and a lot of day to day details.
Thus, in this business, if any claim is made against the company due to some small third party injury, you are putting your company at risks. In order to protect your company against such potential hazards and risks, you need to take business insurance for your company. Some insurance companies have tailored business insurance for textile manufacturers according to the needs of the manufacturing company.
The business insurance coverage includes insurance policies like:
- Product liability insurance: The product liability insurance covers the risk associated with manufactured products. Some product may get defects after a period of time and can bring harm to customers or cause property damage. In such a case, the product liability can help paying for the medical expenses for the usage of product.
- Good in transit: This insurance will provide cover for the goods in the transport system. The risk associated while transporting the goods from the manufacturing company to the client’s business can be covered with the help of this cover.
- Workers’ compensation: Protects your textile manufacturing industry against the claims of the workers and compensates if any of them meet with workplace accidents or got injured while performing their job duties.
- Business Auto Insurance: Provides cover to the workers who use company’s auto or motor vehicle for the goods transit. It also protect your business from cargo losses, theft, fire and other potential hazards.
Thus, look for a company providing all these covers and take an appropriate business cover to your manufacturing business and cover the risks associated with your business.