Product liability insurance is an essential type of insurance that protects your business against legal liability in terms of any claims arising from your products. With this type of coverage, you rest easy knowing that if your customers sustain an injury or suffer from property damage when using your product, you are covered against such liability.
Product liability is part of your commercial general liability insurance coverage and helps protect your company against lawsuits involving your design, manufacture, or sell products.
How Any Business That Manufactures a Product Should Have Product Liability Insurance
When looking for product liability insurance, the first step is to identify the potential claims when people start using your product. By choosing the right product liability insurance, and its combination with other liability coverage for your business, you can have the best protection that fits your business needs.
How Will You Be Protected By Having Product Liability Insurance?
Product liability insurance protects you from claims directly related to people using the product you have produced. Since there are still people trying to make a quick buck by suing a business for any reason they can find, being insured is absolutely essential.
With a product liability insurance policy, these are some of the common claims that are covered:
- Unsatisfactory User Instructions: People can make claims that the manufacturer has failed to provide proper instructions on how to use your product, which then caused an injury or property damage.
- Production Defects: People can make claims that your manufacturing process is flawed, which causes property damage or injury to the person using it.
- Design Defects: People can make claims that a faulty product design on your product resulted in some type of property damage or injury to the person using it.
Interested to learn more? We can help find the right insurance for you and your needs.