Product Liability Insurance protects your business from claims related to the manufacture or sale of products. This insurance covers legal costs and damages if your product causes injury, property damage, or other harm to consumers.
Product Liability Insurance typically includes the following coverages:
Businesses involved in the manufacturing, distribution, or sale of products should consider having Product Liability Insurance. This coverage is particularly important for businesses in industries such as food and beverage, consumer goods, and electronics.
No, Product Liability Insurance typically does not cover the costs associated with recalling a product. However, separate Product Recall Insurance is available to cover these expenses.
It is not generally required by law, but some industries and contracts may require it as a condition of doing business.
Yes, many insurance providers offer bundled packages that include Product Liability Insurance along with other business coverages like General Liability Insurance.