Product Liability Insurance
Product Liability Insurance – What is it?
Purchasing this kind of coverage will protect an organization of individual if something that you produce or offers may cause damage to a patron/user or their property. A product is defined as anything that may be touched, used, consumer or in other terms tangible. With this policy you will have coverage in the event that one of customers injure themselves, even on accident, with one of your products. Although this may seems like a doomsday kind of scenario, most business owners agree it happens more often then realized.
What may be covered with Product Liability Insurance?
- Assertions of possible property damage or injury to person
- Fees arise from litigation
- Costs that occur from the court system
Who should receive Product Liability Insurance?
There are several individuals and organizations that should consider this sort of coverage. Commonly these organizations and individuals purchase this coverage: toy retailers and manufactures, coffee shops, clothing manufactures and retailers, sporting goods manufactures and retailers, food distributors, other organizations that manufacture and retail products. In general if your daily logistics and operations involve one of your patrons using a product that is branded with your name on it in partnership with your company then this insurance policy is something to seriously consider.
Call Miller Carlisle Insurance Services today to get in touch with a trained and professional representative that can assist you in figuring out the appropriate coverage for your business. There are many scenarios and liabilities to consider that may need insurance in place in an event of something happening. Make sure to have use maximize that coverage within your budget through a quote today!