Product Liability

Products Liability Insurance

It is thrilling to launch a product, whether it is a better garden hose or a new way of computer modeling that allows for an advance in artificial joints. The manufacture and sale of products also means potential liability, whether you are the manufacturer, distributor, wholesaler or retailer. Alleged or actual negligence resulting in alleged or actual harm—no matter what the facts, you need coverage to protect your business in this current ‘quick to sue’ climate.

Here are just a few of the types of products we have recently insured:

  • Ammunition
  • Amusement devices
  • Automobile performance parts
  • Aviation products
  • Bicycles
  • Bio Fuel
  • Boats
  • Chemicals
  • Cleaning products
  • Construction Equipment
  • Consumer products
  • Cosmetics
  • Custom Motorcycles
  • Dental Medical Devices
  • Electrical products
  • Elevators
  • Energy Drinks
  • Fertilizer
  • Fire Protection Equipment
  • Firearms and accessories
  • Fireworks
  • Flight Simulators
  • Home Appliances
  • Industrial products
  • Juvenile products
  • Lawn & Garden equipment
  • Machine Shops
  • Marine products
  • Medical Equipment
  • Metal goods
  • Outdoor recreation
  • Paint
  • Plastic & Rubber Goods
  • Plastics
  • Playground Equipment
  • Prosthetics
  • Protective apparel
  • RVs
  • Sporting goods
  • Tires (On / Off-Road)
  • Toys
  • Vitamin Manufacturing
  • Wheels/Rims and Tires
  • And Many More…

If your financial bottom line requires Products Liability coverage, you may have found that wholesale and retail operations/venues require you to have products liability insurance on the items you develop and/or distribute. As a product retailer, you may also be held responsible if there is an injury resulting from use of a product you sell.

Protect Your Investment in Your Business

Product Liability Insurance typically covers your business and your product in the event someone claims that your product caused damage to personal or business property, or personal injury or death. Liability insurance protects against losses even if the insured business is in fact negligent or liable for the damage, injury or loss of another’s property or person. In other words, most Product Liability policies have coverage for:

  • Damages, legal defense fees and settlement charges incurred through a lawsuit that arises due to claims or injury from use of a product you manufacture or sell.
  • Bodily Injury costs sustained by a person or firm, such as cost of care, loss of services, and restitution for death resulting from an injury.
  • Damage to or loss of use of another’s property due to your business or product.

There is no reason for your business to be under financial risk due to potential products liability. Contact SP Business Insurance today for an in-depth discussion regarding the protection of your business and your new product.