Product Liability Insurance

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Product Liability Insurance

Product liability insurance helps to protect businesses from consumer claims that are related to the sale of different products, medicine, food, goods, or the manufacturer themselves. With liability insurance on your product, any losses or injury to the buyer will be covered by your policy. Product liability insurance covers you in instances such as:

  • Design Defect – This is a claim that the design of the product you were selling is unsafe and could cause harm.
  • Defective Warnings or Instructions – This is a claim that the product being sold was not properly labeled or had faulty instructions that would cause the consumer to take on a risk of injury.
  • Production or Manufacturing Flaws –This is a claim that during some part of the production of the product an unreasonable and unsafe defect in the product.

In many cases, the damages that are awarded to the consumer will include economic damages, medical bills, compensatory damages and sometimes even punitive damages and attorney fees. Do not let product liability claims put your business out of business.

Some businesses become confused about product liability and think that because they do not manufacture anything that they do not need to secure coverage. Retailers and wholesalers can also have lawsuits brought on them for alleged negligence. For all cases, if you business puts the product into the hands of consumers, you can be held liable for damages.

If your business provides any time of product to the consumer then you need to have product liability insurance. In some cases you can find product liability in your commercial property general liability policy. Make sure that if you believe this is the case that you confirm it with an insurance professional. You need to have a clear understanding of what is covered so that you can be completely prepared.