In today’s litigious society, a product liability insurance policy is necessary for all manufacturing businesses. It has become unfortunately common for customers to sue companies over a perceived fault in their product, whether or not the fault actually lies with the device or the user. These policies are necessary for manufacturing companies of all sizes, and come with many coverage options.
The Responsible Parties
If a consumer feels that they were injured by a product they consider to be dangerous or defective, they can seek financial compensation for the damages. Many parties within the retail process could be held accountable.
- Manufacturers or Distributors
- Assemblers or Installers
- Wholesalers or Retailers
Keep your company protected from the bottom up. Make sure neither you nor an hourly employee is wrongfully accused of negligence or careless assembly of the goods you sell. Not only does this insurance protect against damages arising from alleged defects, but it can also protect against claims that your product did not contain adequate instructions or a specific warning label.
Safety in Coverage
Finding a good product liability insurance policy not only protects your business financially, but ensures that your company’s name and reputation remain untarnished as well. Make sure your business always stays covered for higher productivity and success.