If you're a manufacturer with revenues between $3 million and $14.9 million, your peers are paying an average of 44 cents per $100 of total insured value for their property coverage.
A $2 million general liability policy is costing manufacturers of roughly the same size $2.38 per $1,000 of revenue.
Those are some of the figures you'll find in our latest survey of insurance brokerages serving the manufacturing industry.
This benchmark study represents our fourth annual report on the insurance purchasing habits of manufacturers and the costs. It includes data from 1,305 manufacturing companies of various sizes and specialties.
Among the highlights:
- While property values have increased, property rates overall have decreased by about 15 percent year over year.
- General liability rates appear to have decreased about 13 percent from last year.
- Small firms experienced much higher liability rates than large firms.
- Larger organizations tended to purchase higher excess liability limits than smaller ones.
Download the full report by filling out the form below:
2024 Manufacturing Industry Insurance Benchmark Report
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