Protect Your Business from Your Own Customers with Product Liability Insurance

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Businesses that manufacture products, or otherwise distribute and sell products to the general public need to protect themselves against potential future lawsuits by their customers. Those businesses need to maintain product liability insurance policies.

Product claims against companies could range from death or bodily injury done to a consumer by the product, to claims for damages done to a consumer’s property.

A business that is in any way involved in the process of getting a product into the hands of a consumer, no matter how seemingly remote the connection, is liable to be named in a lawsuit. One hefty judgment by a court in favor of a plaintiff may be enough to put a company that has insufficient product liability coverage out of business.

Product liability insurance protects a business against actual product defects, inadequate labeling (including inadequate labeling on how not to use the product), design flaws, and the like. Be sure to obtain a product liability policy that covers all of your potential costs: economic, statutory, and punitive damages.

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