What is Product Liability Insurance and Does
My Business Need It?
Product liability insurance is a type of insurance that provides protection for
businesses against claims resulting from injuries or damages caused by their
products. It is important to have this coverage if your business manufactures,
sells, or distributes any type of product, as it can help to protect you from costly
legal fees and settlements.
There are a few different types of product liability insurance, so be sure to speak
with your insurance agent to determine which one is right for your business.
General product liability insurance can help protect your business from claims
arising from any type of product you sell, while product-specific insurance can
provide more targeted protection. In some cases, you may also need to purchase
recall insurance, which can cover the costs associated with recalling a product
from the market.
No matter what type of product liability insurance you decide to purchase, it is
important to make sure that you have adequate coverage for your business. The
amount of coverage you need will depend on the type and size of your business,
as well as the products you sell. Speak with your insurance agent to determine
the appropriate amount of coverage for your business.
Product liability insurance is an important type of coverage for any business that
manufactures, sells, or distributes products. It can help to protect you from
costly legal fees and settlements resulting from injuries or damages caused by
your products. Be sure to speak with your insurance agent to determine the right
amount of coverage for your business.