Insurance cost is different for most business in South Florida. There are many factors that come into play. For example: 

• Do you own your building or rent? 
• How many employees do you have?
• Does the business own any vehicles?
• Are your buying product recall insurance?
• Have you had any claims in the past?
• How complex is what you manufacture?
• What are your gross sales?

All these things and many other things will make a difference in your insurance premium.

Product liability insurance is the only line of coverage that will cover claims brought to you for design defects, manufacturing defects, and defects in your warning and instruction labels.

This is the policy that covers a manufacturing mistake or negligent service that results in a third party financial loss without bodily injury or property damage. It would cover scenarios like: 

• Poor, incorrect or faulty products that are manufactured, handled, sold or distributed
• Errors and omissions caused by material defect, including property damage to the product, property damage to the work and property damage to impaired property
• Negligence or failure to deliver promised services 

Manufacturers are now a large target for cyber criminals. Here are two reasons:

1. They are after your intellectual property
2. Access to your supply chain
3. Likely to pay a ransom to get your operations up and running faster