Features of Product Liability Insurance

Product Liability Insurance is a type of insurance policy designed to protect businesses against financial losses arising from claims that their products have caused injury or damage. Here are some of the key features of Product Liability Insurance:

  1. Protection against product-related claims: Product Liability Insurance provides coverage for claims made against a business for injury or damage caused by its products.
  2. Coverage for manufacturing defects: The policy covers claims arising from manufacturing defects, design defects, and failure to warn of potential hazards.
  3. Legal defense coverage: The policy provides coverage for the cost of legal defense in the event of a product liability claim, including the cost of hiring attorneys and paying court costs.
  4. Financial protection: The policy provides financial protection for businesses in the event of a successful product liability claim, including payment for compensation and damages.
  5. Worldwide coverage: Some Product Liability Insurance policies provide coverage for claims made in other countries, which can be important for businesses that sell their products globally.
  6. Product recall coverage: Some policies include coverage for the cost of product recalls, including the cost of removing the product from circulation and repairing or replacing it.
  7. Policy limits: Product Liability Insurance typically has policy limits that determine the maximum amount the insurer will pay in the event of a claim.

It's important to carefully review the coverage options and policy limits of Product Liability Insurance to ensure that the policy meets the needs of your business. An insurance professional can help you assess your risks and determine the appropriate coverage for your business. Product Liability Insurance is an important consideration for businesses that manufacture, distribute, or sell products, as it can help protect them against financial losses arising from product-related claims.

Standard cover

Flexible product liability cover limits

Product liability cover limits start at £1 million with £2 million, £5 million and £10 million options available, so you can choose the amount that suits your business. If you are unsure of how much cover you need, speak with one of our trained advisers for more information.

Highly trained assistance throughout the process

We have highly trained staff who are ready to assist you throughout the process from finding your initial products liability quote to answering any questions you may have about your cover. If ever you have a problem, simply get in touch and our team will do their best to help you.

Product liability legal costs

Your business could face legal action if it does not comply with product safety laws. It’s not just the person who purchases the product that can sue, it’s any person who is injured, becomes ill or has property damaged by the product. Product liability insurance will cover your legal defence costs, in the event that you are found to have been at fault, it will pay claimants’ costs and expenses and compensation awarded, subject otherwise to the limits of your policy.

Combined commercial liability insurance policies

If you need more than product liability insurance, we offer cover for stock held at your premises, buildings, loss of income, employers’ liability and cyber risks. We offer goods in transit to cover your goods in deliveries. Marine cargo insurance can be arranged to cover any import or exports of goods whilst in transit worldwide. All this cover can be built into one policy with one renewal date. Speak to one of our specialist team and see what they can do for you.