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Product Liability

One mistake can derail your whole operation.
So why take the risk?

What is Product Liability Insurance?

As a business owner, you’re responsible for every product you make and sell. If one of those products is faulty, or causes some sort of injury and you get tangled up in any lawsuits, your business could be held accountable for the consequences that follow. In some situations, you may be proven innocent yet the costs can also rack up. Hence, a product liability policy can incrementally minimize the risk and costs you may face.

What does Product Liability Insurance cover?

Common issues customers encounter that results in product liability claims include:

  • Products that cause bodily injury to the customer
  • Products that cause third party damage
  • Food and Beverage that causes sickness

The common issues for these reasons include:

  • Design defect: Unsafe or faulty design can lead to design defects
  • Manufacturing defect: Issues such as mistakes during the assembly process or a missing piece
  • Marketing defect: Incorrect labeling, lack of safety warnings or unclear instructions

In terms of costs, the following can be mitigated with a PL policy:

  • Medical costs to injury
  • Legal fees
  • Defence costs
  • Settlements made against your business

Is Product Liability Insurance important?

A defect or contamination in the product may lead to a slew of unfortunate consequences. You could be at risk of causing injuries, illnesses or damage to someone else's property. Should you get sued, your product liability coverage can save you from medical costs, legal fees, defence costs and settlements made against your business. In some cases, without coverage, certain businesses would not be able to come back from such hardships.

Who needs Product Liability Insurance?

If your business sells products to another stakeholder, then having product liability insurance can massively decrease the potential costs you may face. No matter what stage of the supply chain your business is in, product liability can be extremely helpful, as it can benefit numerous industries such as producers, manufacturers, retailers, wholesalers and distributors. 

How much does a Product Liability Insurance policy cost?

The following factors are taken into consideration when determining the cost of your product liability insurance policy:

  • Industry
  • Location
  • Claims history
  • Policy limits


At CHAZ, with over half a decade of experience, we understand the risks associated with various types of products and can utitlize our extensive relationship with numerous insurers to our clients advantage. Not only can we negotiate a feasible price, we will also handle the tedious processes during claims so your mind can rest at ease.

Important Disclosure

The content provided is for informational and educational purposes only. The coverage written may not be applicable to all situations and policies. Terms, conditions and qualifications are also subject to circumstance and supplementary material. For more information, please contact us via the enquiry form below..

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