Industrial Equipment Dealers in Tracy, CA
If you own or operate a business that deals in industrial equipment, you’re clients and customers depend on you to provide reliable and safe products. Given the high risk levels of many industrial workplaces, even a slight defect or poorly worded instructions could have dire ramifications. Additionally, as a business, you face various risks in your own workplace. With these risks and exposures in mind, understanding and investing in the right insurance is critical.
What Is Industrial Equipment Dealers Insurance? 
As a specialized form of business insurance, industrial equipment dealers insurance may require your company to purchase and retain multiple policies featuring various coverages. Although some insurers may offer prearranged packages tailored toward those in your industry, your business is unique and likely requires a customized coverage portfolio.
What Types of Coverage Do I Need?
While every industrial equipment dealer’s exact insurance needs may be unique, those in this sector often face common threats and concerns. As such, the importance of several types of insurance may transcend unique circumstances and represent valuable investments for many in this industry. When building your industrial equipment dealers insurance package, you may want to prioritize the following core elements:
- General liability insurance can offset third-party losses for which you’re responsible, including if a defective product causes bodily harm or property damage.
- Commercial property insurance can cover your building, machinery, tools, electronic devices and inventory from many common perils, including fires, theft, burglary and explosions.
- Workers’ compensation insurance is often required by law and may offset losses and expenses if your employees are injured on the job or develop work-related illnesses.
- Professional liability insurance, also known as errors and omissions insurance, can help manage financial implications if you’re accused of providing inaccurate advice, negligence or otherwise providing inadequate services to clients.
- Business interruption insurance can help replace lost income and pay for ongoing expenses if you’re forced to temporarily shut down or delay operations due to a covered incident.
- Inland marine insurance may cover tangible assets while in transit or off-site, such as if equipment you’re transporting to a client is damaged, lost or stolen.
- Equipment breakdown insurance may help pay for repair or replacement costs if your machinery, tools or other equipment experience defects or otherwise break down.
- Commercial umbrella insurance may be necessary for additional liability coverage if defects in your products or other incidents for which you’re at fault cause particularly significant third-party losses.
Learn More
Contact ISE Insurance Services today to learn more about industrial equipment dealers insurance and compare personalized quotes.