Insurance For Baby Products In Canada
Insurance for baby products in Canada can help your company with challenging legal cases that might harm your business. It’s your insurance company’s job to support your business in case of an accident or product defect. At ALIGNED Insurance we search through the 65+ top Canadian insurance companies to find you the package that fits your business.
Cariboo Distribution is a baby product manufacturer in Canada. This business started as an online store and has expanded internationally. What started as a business out of the owner’s basement has grown to serve hundreds of retailers across Canada. A company like this has some unique challenges that your company is likely familiar with. Caribou Distribution operates online and has a head office location. They manufacture baby products to be distributed in Canada and overseas. This company has high safety standards they follow and can be picky about the products they choose to manufacture. It’s companies like this that rely on their insurance to help with any unexpected situations.
What Types Of Insurance Should Baby Product Manufacturers Have?
Product Liability Insurance
This is a key consideration for anyone looking for insurance for baby products in Canada. You use this type of insurance for claims where a product is defective or malfunctioning. If a child or parent is injured by one of your products, you could be liable. As you can imagine, these situations can come with high legal costs. It’s up to your insurance company to help pay for legal fees so that this situation doesn’t disrupt your business.
This type of liability insurance can also help you if a product warning label has a misprint or is missing information. This is another situation that can be potentially harmful to the customer. Therefore liability insurance can provide coverage for costs involved with a potential lawsuit. As a manufacturer, you need insurance for baby products in Canada no matter how diligent you are with your safety policies.
Commercial General Liability Insurance
This can sometimes include product liability insurance. General liability insurance is important to protect your company in the case of accidents or injuries. For example, if a factory worker is injured, or a truck driver gets hurt during delivery, your insurance company can help. There are so many variables that you can’t always control, so you want to have full insurance coverage for accidents like these.
Property Insurance
This should be a consideration even if you don’t own a retail location. You would use property insurance if damages happen in the warehouse due to flooding. If you find yourself with weather-related damages that destroy your inventory, your insurance company can help. This type of insurance also applies to the warehouse itself or your headquarters. Damages to your property can be repaired with the financial assistance of your insurance company.
Crime Insurance
Lastly, you’ll want to consider crime insurance in case of customer or employee crimes. If you find an employee has stolen from your inventory, your insurance company can help recoup losses. You can also use your insurance for baby products in Canada if you are left with losses from customer fraud.
Customized Insurance For Baby Product Manufacturers
Your insurance for baby products in Canada should be customized to meet all the needs of your company. It’s important that your insurance company doesn’t treat your business the same as a retail store, because you may not have full coverage for the risks your company faces. Your insurance needs to be heavy on its coverage for product liability if you have a high volume of products leaving your warehouse.
Where Do I Get Insurance For Baby Products In Canada?
You can use ALIGNED Insurance Online Products to find insurance for baby products in Canada. With this system, we are able to provide insurance right away. You also have the option of discussing customized insurance with an experienced insurance broker. It’s our job to help you find the insurance package that’s right for you. We will do the price comparisons, and ensure you have full coverage for what you need so that you don’t have to.
