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The Commercial Property policy in our ManufacSurance® program protects your physical assets from exposures such as fire, theft, utility interruption and other perils. Our Property insurance also includes Ordinance or Law coverage to cover increased reconstruction costs after a covered loss due to updated building codes and new ADA requirements. In addition, Business Income coverage is included and will respond if your business is shut down or interrupted due to a covered cause of loss. It will pay your payroll and ongoing expenses when production is shut down.
Your manufacturing facility most likely contains various materials used to manufacture your products. You may have flammables such as plastics on hand, or use chemicals that can ignite and cause significant damage to your building, equipment and other inventory. In addition, property is exposed to theft, vandalism and natural disasters. Commercial Property insurance steps in to cover your buildings and their contents. We can cover your warehouses and office space, office equipment, industrial machinery and equipment, and materials inventory with our policy. Our experienced team will help you evaluate how much coverage you need for your plant, equipment, and inventory to ensure that you will be sufficiently reimbursed in the event of a loss.
We also include Ordinance or Law coverage in our Property form so that you would be covered for loss to the undamaged portion of the building. Depending on local building codes and regulations, if there has been significant damage to a portion of the building, what’s left has also suffered a loss of value. The local building code may require that the undamaged portion of the building be demolished before starting construction. Under Ordinance or Law Coverage A, if you have to rebuild the entire building after a covered loss because of local law, the full property limit will be available to do so. You will also have insurance available if you have to demolish the undamaged part of the building and remove debris with Ordinance or Law Coverage B. Coverage C provides funds to upgrade certain key systems in the building as required by local ordinance after a loss, such as plumbing, electrical, HVAC, roofing, sprinkler systems, and handicap ramps and other ADA-compliant features.
Business Income, also known as Business Interruption, pays for lost income and ongoing expenses, such as employee salaries, rent, utilities, and even the owner’s profits. Extra Expense coverage will pay certain relocation expenses for a specified period after a covered loss. We can even insure your manufacturing business for lost income due to interruptions in utility services or equipment breakdowns.
PMIS developed ManufacSurance® to help you address the range of risks you face. As your business evolves and deals with an increasingly changing global business environment, our insurance program will provide you with the security you need to thrive and grow. For more information about our exclusive program, please contact us at 855.910.5788.