Manufacturers Insurance

Manufacturers' Insurance

Finding the right manufacturers' insurance to protect your business, at the right price, shouldn’t be complicated or time consuming. As an insurance broker we can help, by working with you to find tailor-made cover, quickly and without fuss.

Why Manufacturers' Insurance is Important

No two manufacturing businesses are the same, but all typically face an unusually broad range of risks. There are risks to property and machinery – for instance from fire, flood, and theft to breakdown. There are risks to employees and visitors, the risks that come with supplying goods to customers, and those that can arise when end users interact with the products or parts you make.

That’s why making sure you have the right manufacturing business insurance in place is so important. Peace of mind is knowing you have all those risks covered – so your firm is protected should something goes wrong.

For instance, a high quality manufacturing insurance should help you recover if a serious incident damages or destroys your premises or machinery – not just covering the cost of repair or reinstatement but helping to replace lost income too. It should also shield you from the issues that can arise from employing people, supplying customers and their eventual use. Then, depending on the type of manufacturing business you run, and its supply chain, you may also need insurance for stock, goods in transit, book debts, and more.

Putting that tailored cover in place can be complex and time consuming, especially as it is often harder to find cover for things like manufacture of safety critical related clothing and equipment.

All of which makes it important to get help from an expert. After all, true peace of mind comes from knowing you have the right manufacturers' insurance cover in place – not just generic, ”off the shelf” cover – at the right price.

About the Manufacturing Industry

The UK manufacturing sector represents a diverse array of businesses – from clothing manufacturers, food producers, furniture and window manufacturers to metalworkers, sign makers and precision engineering firms.

It is no surprise, then, that the sector remains a significant employer, standing as the world’s ninth largest manufacturing sector[1] despite the challenges it faced during the period after 1970[2]. Today around 136,000[3] manufacturers of all shapes and sizes employ some 2.6 million people[4], contribute 10% of the UK’s total economic output and 45% of all UK exports – indeed manufacturing exports generate £275 billion annually[5].

As a sign of innovation in the sector, manufacturing accounts for 69% of all UK research and development spending[6]. Coupled with recent growth in the sector, which outpaced all other European nations[7], and a sustained period of manufacturing employment growth[8], this gives cause for much optimism among manufacturing businesses, though serious challenges remain.

All of which makes preparing for the unexpected crucial for manufacturing firms. Macro-economic factors clearly lie beyond the control of individual firms, but preparing for, and mitigating the typical risks a manufacturer may face is more straightforward – employment, public, and product liabilities, property and equipment damage or loss to name but a few.

That is the role of tailored, affordable manufacturing insurance: To take those more predictable risks off the table as far as possible, or at least minimise the associated financial and reputational consequences should things go wrong.

With that in mind, it is vital to consider all the insurable risks facing each manufacturing business and get help to find the insurance cover that can protect it against the unexpected.

Get a Manufacturing Insurance Quote

Let us help you find the manufacturing insurance you need, quickly and without fuss. In fact, we make buying manufacturing insurance as easy as 1, 2, 3:

1. We’ll help you work out what cover you need.
2. We’ll do the work of gathering quotes on your behalf.
3. Once you are happy, we will get you set up.

Contact us to find out more.

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^{[1] https://www.eef.org.uk/campaigning/campaigns-and-issues/manufacturing-facts-and-figures
[2] https://www.themanufacturer.com/uk-manufacturing-statistics/
[3] https://www.ons.gov.uk/businessindustryandtrade/business/activitysizeandlocation/bulletins/ukbusinessactivitysizeandlocation/2018
[4] https://www.themanufacturer.com/uk-manufacturing-statistics/
[5] https://www.eef.org.uk/campaigning/campaigns-and-issues/manufacturing-facts-and-figures
[6] https://www.eef.org.uk/campaigning/campaigns-and-issues/manufacturing-facts-and-figures
[7] https://www.thisismoney.co.uk/money/markets/article-6456195/Britains-manufacturing-sector-booms-eurozones-stutters.html
[8] https://www.ft.com/content/6e60e386-ab9a-11e8-89a1-e5de165fa619}

^{smei is a trading name of Marsh Commercial, a UK award winning expert in insurance and risk management, and part of the same business family as Marsh, a global leader in insurance broking and risk management. Occasionally a representative from Marsh Commercial may contact you in response to your enquiry if your trade type is better suited to that area of the business.}