AV Equipment Manufacturers Insurance

The manufacture of audio-visual equipment involves various operations, from aesthetics to the functionality of the equipment. In some cases, the manufacture and assembly of the audio and video equipment are carried out in different locations. A manufacturer can subcontract the assembly of the equipment to a third party.

Regardless of the stages of the audio-visual manufacturing of this is equipment, some risks threaten the manufacturer’s ability to continue with operations. Insurance can feel unnecessary, but at the same time, it can be highly dependable when unforeseen circumstances affect your business and your livelihood.

AV equipment manufacturer insurance coverage can protect your business from lawsuits and safeguard you from financial loss.

 Cost of audio-visual manufacturing insurance

The standard cost of a general liability insurance policy for a small audio and video equipment manufacturing business depends on the location, size, number of employees, revenue, payroll, experience, and claims history.

Why audio and video equipment manufacturer need insurance

As an audio and video equipment manufacturer, circumstances beyond your control can affect your business.

International criminal acts like vandalism or theft can have a substantial financial impact on your business.

An accident or an injury can occur in a manufacturing plant, leading to a lawsuit, and cost-related paid out of pocket could highly impact finances heavily. For example, an employee can sustain an injury while at the manufacturing plant, or a third-party injury can happen within your facility.

In addition, if one of your equipment has a malfunction and causes financial loss to a client and you are held liable.

However, as an audio and video equipment manufacturer, you should always be ready for the worst-case scenarios for your business.

Types of insurance coverage for audio-video equipment manufacturer business

Commercial property

This insurance policy protects your business from financial losses due to damage to your manufacturing facility and the contents inside. The damage could be due to theft, vandalism, or acts of nature.

Commercial general liability

This policy safeguards your business from third-party property damage and personal injury claims. For example, if a customer slips and Falls, sustaining an injury when in your facility, the policy covers the medical care. If the customer files a lawsuit against your business, this policy covers legal fees and settlement costs from the lawsuit.

Product liability

This insurance policy protects your business if the product you manufacture causes harm to a third party. It can happen out of the malfunction of the product, negligence, or manufacturer instructions.

Workers compensation

This policy covers your employees as it bears the medical costs and wages lost if an employee sustains a work-related injury.

Today the audio and video equipment manufacturing insurance depends on the cost, coverage, and exclusions. To ensure you have the best coverage for your business, consult a reliable insurance agent who can assist in tailoring the best coverage that will suit your business.