Budget insurance plans to risk-proof your manufacturing business
Covrzy's insurance policies are designed to provide comprehensive coverage according to your need for your manufacturing business. Get insured today and protect your assets, employees, and profits.
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Insurance Policy to Cover Your Manufacturing Business
Protect Your Products, Protect Your Business
Safeguard against claims arising from defects in your manufactured goods or injuries arising from usage of your product. Mitigate financial risk and protect your brand reputation.
What are the Risks Faced by Manufacturing Businesses
Noida Factory Blaze
A massive fire in a Noida manufacturing unit caused crores in losses, underscoring the urgent need for fire damage coverage in factories.
Chennai Flood Shutdown
Recent floods forced multiple auto-parts plants in Chennai to halt operations, highlighting manufacturers’ exposure to natural disaster risks.
Port Warehouse Losses
Several exporters reported damage to finished goods awaiting shipment at Mumbai port, raising concerns over stock insurance gaps.
Professionals who will get covered from the insurance
Customers & Third Parties
Employees
Manufacturer Itself, Partners, and Shareholders
Property and Asset protection
Inclusions
Property Damage
Covers damages to physical property due to insured events
Bodily Injury
Provides coverage for injuries sustained by third parties or on the premises
Product Liability
Protects against claims arising from defective products causing harm
Fire Damage
Covers losses due to fire incidents affecting manufacturing facilities
Transit Insurance
Insures goods against damage or loss during transportation
Exclusions
Intentional Damage
Does not cover damages caused intentionally by the insured
Wear and Tear
Excludes normal wear and tear of machinery and equipment
Product Recall
Does not cover costs associated with recalling defective products
Contractual Liability
Excludes liabilities assumed under contract unless specifically covered
War and Terrorism
Excludes damages resulting from acts of war or terrorism
How are Manufacturers Covered with Insurance?
A manufacturing unit in Nagpur suffered devastating losses due to a fire that destroyed assets worth nearly ₹1 crore. The fire broke out in the factory, causing significant damage to machinery, inventory, and the building itself. With fire insurance, the manufacturing industry can easily mitigate the financial impact of this disaster.
Forge Ahead with Unshakeable Protection
Covrzy’s Insurance for Manufacturers is here to safeguard your business in minutes. Connect with a Covrzy expert to craft your perfect insurance plan
Frequently Asked Questions
Is Fire Insurance Compulsory for Factories in India?
Fire insurance is not legally compulsory for factories in India. However, it is highly recommended as a risk management measure to protect against potential fire-related losses.
Is Insurance Mandatory Under the Factories Act?
Is Insurance Coverage for Injury from Products Mandatory for Manufacturers in India?
Do you have more questions?
Contact us for any queries related to business insurance, coverages, plans and policies. Our insurance experts will assist you.
Protect Your Project Before Building It
Don't Let Risks Halt Production. Secure Your Manufacturing Business Now
