Metal Manufacturing Insurance
Running a metal manufacturing business is a difficult enough task without having to worry about the financial risks associated to accidents and injuries. But these are only some of the risks you’re exposed to, with many more being very unique when compared to other manufacturing operations.
The biggest mistake you could be making is taking out a standard manufacturer insurance policy assuming that it will have all the risks covered. This could leave you wide open to significant losses if you encounter a claim situation that is not covered by your policy wording.
To make sure that you are indeed fully covered, and that your premium is as competitive as it can be, make sure you speak with one of our commercial insurance representatives today.
Unique Risks in The Metal Industry
The metal industry has some very unique risks that are not common in the majority of other manufacturing companies. As a result, you have to make sure that your policy provides adequate protection.
Here are just some of the unique risks you’re exposed to.
The most obvious risk of fire in a metal workshop is from materials and gases used in welding processes. Along with solvents and different oils and paints, there is a substantial risk for fire and even explosions.
While the very nature of the metal products, materials and uses will vary a lot, there is a significant financial risk of the metals failing as a component of a product further down the production chain.
For example, you supply metal to a company that produces industrial AC units and a fault or product recall causes an issue with a component you provided.
Quality Advice You Can Trust
Because of the very unique risks you’re exposed to, you have to make sure that you get professional advice, rather than just trusting an online product that may actually be missing some very crucial policy wording.
At Aspire Insurance Solutions, we have dedicated commercial insurance representatives with extensive experience who understand your business and industry.
All this experience and advice is available to you completely free of charge and we have access to highly competitive premium quotes and discounts.
Common Claim Scenarios
To help you better understand some of the most common claim situations other sheet metal businesses have found themselves in, we have put together some examples. These are real life scenarios that you have to make sure you are covered for.
Steel Dust Ignition
You might think that the main flammable risk in a sheet metal workshop is solvents and gases used in welding equipment. However, a very significant risk exists with steel dust igniting through a spark triggered from some of your machinery.
Even with specialist ventilation systems and fire protection in place, such events can cause catastrophic damage and even serious injuries.
Flammable Chemicals & Solvents
Many metal fabrication processes are heavily reliant on highly flammable gases, solvents and chemicals that can cause a lot of damage when not used correctly. Everything from damage to machinery and buildings to serious injury can be the result.
This can expose you to extensive financial losses if you’re not properly protected through the policy wording.
High Tech Equipment Failure
Machinery these days is becoming ever more heavily reliant on high tech components, with robotic machinery become more common. Such machinery is expensive to acquire and accidental damage or faults can result in very significant losses as well as business interruption.