Product Liability Insurance
Product Liability Insurance Quote Forms
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Product Liability Insurance Information
If your business manufactures, designs, sells or distributes products, you may face claims that they caused injuries or property damage to clients or customers. Product liability insurance can provide coverage in these situations.
The experienced team at Germani Insurance Services in Los Angeles, California, can help you build a comprehensive commercial insurance portfolio. Contact us today for details.
What Is Product Liability Insurance?
Product liability insurance is a type of commercial insurance that can be a part of a general liability insurance policy or a standalone policy. It can provide coverage for lawsuits that arise from third parties that claim a product your business is responsible for caused property damage or bodily injury due to:
- Manufacturing defects—These are issues with the product that arose during the manufacturing process. They cause the item to differ from its intended design, making the product more dangerous than customers expect.
- Design defects—These are issues with a product inherent to its design that make it unsafe.
- Marketing defects—These are issues that arise due to how the product is marketed (e.g., failure to warn consumers of its dangers or providing inadequate instructions for its safe use).
Coverage for strict liability claims (i.e., when a business is held responsible for injuries or property damage caused by its products without being found negligent) may also be available.
Product liability insurance payments may be used to help compensate the affected parties (e.g., help pay for property losses or medical bills) and to cover associated legal fees, even if the claim is eventually dropped.
Who Needs Product Liability Insurance?
Numerous types of business may need product liability insurance, including, but not limited to, the following:
- Online retailers
- E-commerce businesses
- Construction operations
Businesses may conduct a risk assessment to help determine if product liability insurance should be added to their insurance portfolio. Our agents can assist you with this analysis and provide details on coverages, limits and exclusions.
How Much Does Product Liability Insurance Cost?
Product liability insurance premiums depend on a several factors, including your business’s industry, location, policy limits, and claims history. Contact us today for a quote.
The knowledgeable agents at Germani Insurance Services can provide more information about product liability insurance and other commercial coverages while we help you secure the policies that best meet your needs. Reach out to us today to get started.