Product Liability Insurance


Every business has different insurance needs. If your primary business relies on the sale of products rather than services, you may benefit from product liability insurance. Product liability insurance is not the same thing as general liability insurance. It tends to be industry specific and offers coverage against claims of personal injury or property damage that may arise after use of your product. In some cases, it may function as a companion to public liability insurance and professional indemnity insurance.

What does product liability insurance cover?

The purpose of product liability coverage is to protect businesses from litigation and steep court fees. Most cases of product liability arise from a malfunctioning or defective product, rather than willful negligence on the part of the business. Product liability insurance is a layer of protection against the unexpected. It allows you to proceed with your day to day operations with the peace of mind that you will not be bankrupted by legal fees.

In addition to covering malfunctions or product failure, product liability insurance also covers errors at any stage of the distribution chain. This means that regardless of whether the failure originated from the manufacturer or the wholesaler, the coverage remains unchanged. Moreover, product liability coverage also protects against claims of failure to warn about hazards, or failure to provide adequate instructions on product use.

Why do I need a product liability insurance broker?

Product liability insurance is an invaluable asset, no matter what industry you’re in. Legal fees alone are a substantial expense, and damage awards are higher in product liability lawsuits than in any other kind of civil suit. Regardless of the size of your business, working with a product liability insurance broker will help you ensure that you’ve selected the best coverage for your unique needs and risks. At Frankel & Associates, we evaluate possible policies based on a variety of factors such as premium costs, covered products, business size and the providers previous claims response history. As a result, you’re able to save time and money by considering only plans that meet your requirements!

Selecting a product liability insurance policy can be extremely time consuming and confusing. Obtaining accurate quotes requires speaking with providers directly, as well as providing dozens business details, only to receive a confusing term sheets and frequent follow-ups. When you work with a product liability insurance broker, we evaluate your needs first. Every business is different, and the brokers at Frankel & Associates get to know yours before presenting you with policy options. Our focus is obtaining the best coverage for the right price, not upselling an expensive package. With our exceptional customer service, finding product liability insurance has never been easier!