Whether your company manufactures products or simply supplies them to the public, you have a duty to ensure your products are safe to use, and that’s where product liability insurance comes in.
What is product liability insurance?
While most of the responsibility lies with the manufacturer, wholesalers and retailers have responsibilities too and also need product liability insurance to protect them.
Product liability insurance is there to cover the cost of any claims made against you for products that you manufactured or supplied and that turned out to be faulty, causing damage or injury to a person or their property.
If someone is awarded a personal injury claim, your product liability insurance will also cover any costs for hospital treatment or ambulance callouts made by the NHS.
Product liability insurance also covers you against unforeseen circumstances such as product faults that your quality control system couldn’t trace.
What isn’t covered by product liability insurance?
Even with product liability insurance you still have to be careful. Poor workmanship is definitely not covered by your product liability insurance policy and your insurer will want to know that your products meet industry best practice manufacturing and that your staff are properly trained before approving your product liability insurance application.
Even if you take all the necessary precautions, it’s still possible that someone could be injured or have their property damaged by your products, which is why product liability insurance is so valuable.
What are your responsibilities?
If you have supplied a faulty product, claimants may try to get compensation from you even if you weren’t the manufacturer, and you may still need to make a claim on your product liability insurance.
How uSwitch for business can help
Let uSwitch for business work out exactly what you need. We’ll compare business insurance on your behalf to save your business time and money – and we’ll take care of all the paperwork too.
Call us now on 0800 0515 489 to compare business insurance quotes