Product Liability Insurance covers certain lawsuits alleging bodily injury or property damage caused by a defective or faulty product. What Does Product Liability Insurance Cover? They also serve to satisfy any contractual requirements of a downstream purchaser, such as a retailer. Product Liability policies provide a funding source for legal defense expenses and payment of a settlement or adverse jury verdicts. The policy can be purchased as part of a General Liability policy or on a stand-alone basis. when the sale of a defective or faulty product results in bodily injury or property damage to a consumer or other member of the public. Product Liability Insurance is commercial insurance that protects manufacturers, distributors, importers, retailers, etc. In the end we saved 50% over previous agents and quotes.” – Bill Jacoby Euro-Baby, PA Sadler Insurance and get an honest assessment of what could be done. “After shopping insurance and getting lukewarm responses, it was a pleasure to talk to
Owens, our product liability insurance specialist at 80 to make sure you get complete protection from the risks associated to your specific type of business. Another reason to purchase this type of policy is to satisfy the contractual requirements of a downstream purchaser, such as a retailer.įor more information or to get expert advice, email us or call Paul L. Many businesses purchase this type of coverage to provide a funding source for legal defense expenses and payment of settlement or adverse jury-verdict costs. Product liability coverage may be obtained as either part of an existing General Liability policy or on a stand-alone basis. Product liability Insurance is a policy that protects product manufacturers, distributors, importers and product retailers from financial loss due to bodily injury or property damage as a result of a product manufacturing defect or claim. Is Product Liability Coverage Right for Your Company? Existing insurance agent does not have necessary expertise.We insure all businesses in all 50 states for the following situations We provide Contract Review and guidance so that you don’t assume unreasonable liabilities and are in compliance with insurance requirements found in your contracts with landlords, equipment lessors, trade associations, customers, suppliers, etc.The end result is peace of mind in knowing that you are not likely to be blindsided by a business-ending loss. Our exclusive Insurance Coverage Audit will reveal dangerous and little-known exclusions and coverage loopholes in your current program that can leave you exposed to uncovered lawsuits and property losses.
#QUICK QUOTES GENERAL LIABILITY PROFESSIONAL#
We provide professional advice and risk management services for all of our clients. There is no account that is too small or too large for our expertise. Our current clients pay premiums for their General Liability insurance ranging from $3,500 to more than $1 million.Once we place your General Liability insurance, including your Products Liability Insurance, we can expand with you as your company grows and provide your Auto, Excess Liability, Directors & Officers Liability, Workers´ Compensation, Products Recall, Property, and Life Insurance coverages.
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