What Is Product Liability Insurance?
Product liability insurance protects businesses that use, design, manufacture, or recommend physical products. If your company does, and someone is injured by it or has their property damaged, you can be held liable and face compensation claims. Product liability cover through Coversure can insure you against risks such as:
- You have recommended a product that has caused injury or damage
- You have sold a faulty product with your business’s name on it
- Your business has produced a defective product that injures someone or damages their property
- Your company has a repaired, refurbished, or changed a product that goes wrong and causes injury or damage
How Much Cover Do You Need?
The level of protection you will need will depend on several factors, such as:
- The size of any potential claims
- The type of products you create, build, sell, use, repair, or recommend
Most insurers will offer protection of up to £10m plus legal cost cover of up to £100,000. An excellent way to find out what you need is to contact your local Coversure office, and they can build a policy around your needs.