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Products Liability Insurance

If the products you make are available to the public, then you are ultimately responsible for them and any damage or injury that they might cause. Therefore, it’s imperative that you have product liability insurance to cover you in the event that one of your products causes damage to an individual or property.

In the case of one of your products being unsafe or defected, the customer has the right to claim compensation so having some protection in place could save you thousands in damages and legal costs.


Products Liability insurance quotes

At Be Wiser, we are an independent insurance broker dedicated to helping our customers get the best quotes from leading UK insurance providers.

When assessing the cost of your product liability insurance and how much cover you need, we will consider the size of your business, the level of risk associated with your products and history of claims. We appreciate that every business is different which is why we are passionate about giving a personal service for each customer. Simply call one of our advisors today on 0800 954 9570 or fill in a form to get a quote.

+ Products Liability insurance explained

If your business is involved in selling a product whether you manufacture, import or change parts of it, you are going to be liable for any potential damages caused to the customer. You can never be sure that products produced on a massive scale don’t have any defects and you will want to protect your business and its interests from potential lawsuits.

Companies that sell products need liability insurance because not having it available can pose a risk to the business. If a customer has a claim based on a faulty product or due to a lack of safety warnings, the producer and sellers could incur huge legal and compensation fees to resolve the matter.

+ What is covered in Products Liability insurance?

Public liability insurance covers the compensation and legal costs for any injuries causes to a third party as a result of your product. This includes individuals directly impacted by your product or any property damaged as a result of your business activity.

Liability insurance also covers the wholesaler if the producer is no longer trading. If the manufacturer no longer exists, you don’t want to be held accountable. On a similar note, you can gain protection for products that might be jointly liable where two parties are involved. For example, a mechanic that uses faulty parts from different car manufacturers or a handyman that uses defective tools made by different companies.

+ Advice for Products Liability

Manufacturers can limit the risk of their products causing damage to individuals or property by following the government’s product safety guidelines:

Safety labels: companies must understand the risks of their products and place adequate warnings and safety labels clearly on their products. Producers can provide information to the customer including ingredients and materials used in the manufacturing process.

Monitor safety: producers can follow up on complaints by improving their processes and making changes to benefit the good of their product.

Check safety standards: companies can stay up-to-date with the safety standards for their respective industries and co-operate with trading standards officers to maintain a high level of product safety.

By following these guidelines strictly, companies will limit their number of claims and have access to the best product liability insurance quotes.

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