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Metal Finishers Insurance
Sand blasting, buff polishing, powder coating or hot blackening. Whichever way you do it you’re dealing with a medley of machines, chemicals, and health & safety hazards in your metal finishing business. Ensuring you’re well protected and thoroughly insured should be one of your priorities. But we understand that it can be very confusing to know what needs to be insured and where your liabilities may lie.
At Alan Boswell Group we have extensive experience working with Metal Finishers and Fabricators. We understand the insurance needs and are experts in spotting where gaps may exist in your existing policy cover.
The Alan Boswell Group Difference
We have experienced staff who are very knowledgeable about your industry and working processes.
We can review your Health and Safety and any other survey issues which may arise.
We have a team of dedicated people who take great care and pride in providing you with excellent service and customer satisfaction.
Metal Finishers Insurance in detail
We are experts in spotting gaps and shortfalls in your existing cover, thus ensuring your insurance policy with us fully protects you and your business in the event of a claim. Examples include:
- Where warranties on the policy exclude; the use of ovens, heating elements in tanks and other processes, when the premises are unattended.
- Where warranties specify that a current electrical wiring certificate is in place for the fixed installation at the premises.
- Where no cover is in place for a customer’s goods held by you in trust.
- Where no cover is in place for non-ferrous metals such as nickel (which have greatly increased in value in the last few years) or where the sums insured are inadequate.
- Where no cover is in place for the professional removal of chemical waste in tanks following a claim.
Standards aspects of the cover we offer include:
- Material damage
- Business interruption
- Employers’ liability
- Public and products liability
Optional covers include:
- Transit
- Personal accident
- Directors’ and Officers’ insurance
- Employment protection
- Corporate liability
FAQs
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Often a metal finisher may not have the cover they would expect to remove and dispose of chemicals in tanks after a loss. This is down to the definition of ‘stock’ which can exclude chemicals in tanks as they no longer have any financial value, so would not be covered under the policy. We would make sure this cost would be included in the policy we arranged for you.
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For metal finishers, this is often much higher than you would think. As a service industry to other manufacturers, most of the goods you work on are free issue, meaning the cost of materials is low compared with many other industries. Consequently, you should be looking at a gross profit figure per annum of between 85% to 95% of your turnover. We would assist you in calculating the appropriate figure and discussing the length of the indemnity period you might consider.
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Yes, this would include such processes, and if unchallenged by you or your broker could invalidate all cover in a claim involving such heaters. We have worked with many insurers to get around this issue without undue expense or interference with the running of your business.
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