What Is Product Liability Insurance?
Product liability insurance protects your business from third-party claims of producing, distributing, or repairing a product that causes harm. It generally covers medical costs, legal fees, compensatory damages, and/or property damages to someone else’s belongings.
Don’t Let Your Product Hurt Your Business
Accidents are bound to happen. But unfortunately, if your product causes an injury to a customer, it can dig deep into your pockets or even halt your business. And these issues can be costly for companies and clients. If you’re selling a product, make sure it’s protected.
How Does Product Liability Insurance Work?
While you aim to only produce quality items, mistakes are a part of life. But they can be accounted for before they even happen with the right planning.
Maybe you make a food product and an ingredient upset a customer’s allergy. Or maybe you manufacture a type of equipment that ended up malfunctioning and destroying a customer’s home. Either way, with product liability insurance, you’re covered if a lawsuit ensues or if you have costly damages to pay out.
Make A Plan Before You Make Your Product
It’s best to get in front of your risk before it gets the best of you. Our team can help. We’ll take the time to first understand your specific product so you can get the best possible plan to safeguard it and avoid the stress of managing a crisis.