Product Liability Insurance: For All Businesses?

We often hear this question: What’s product liability insurance and do all businesses need it?

If your business is a retail or internet provider of goods and services, or if you make and deliver products through distribution, you should consider purchasing product liability insurance. This coverage will protect you and the business from claims of damage caused by your product or its use.

Product liability insurance will cover against claims of damage from goods, foods, medicines or other products sold and used by the public. This insurance covers manufacturers, distributors, suppliers, and retailers in the event of a claim. It’s important to note that claims of damages or injury may come from product defect, packaging, design, labeling, storage, or handling of the product.

It’s important for a retail business or supplier to remember that they may handle hundreds or thousands of different products and claims can be brought against them even though they didn’t manufacture the product. Your business may be part of ‘the stream of commerce’ which will hold your business liable for a ‘part’ of a claim.

Work with a licensed insurance professional to determine the specific coverage needed. In most cases, a million dollar limit is considered the minimum that should be carried and what options are available to best protect your business.

Get the coverage you need and save big on commercial insurance!

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Workers' Comp
General Liability
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