Product Liability
Let’s face it: a small percentage of the products you are selling are lemon units.
Let’s face it: a small percentage of the products you are selling are lemon units. Once they cause injuries and damages, an expensive lawsuit is almost unavoidable. Your whole team doesn’t deserve to lose work after shouldering liabilities. Your business can survive this struggle by investing in financial protection: Product Liability Insurance services from Northwest Insurance Agency. Get it today!
Protect your business from costly damage and injury lawsuits
If using one of your products caused injuries to someone, what would happen if they sued you? Any injured party involved in a dispute over a defective item purchased and used for its intended purposes can win a lawsuit.
Product liability insurance protects you from such expensive lawsuits, usually from property damage or personal injury caused by your products. Even suppliers can benefit from this type of insurance coverage.
Instances where product liability insurance can save your business
This form of insurance will cover any mistakes that lead to people getting hurt. It covers the cost of a lawsuit filed against you and the compensation for injuries and damages. The following examples explain how.
Design defect claim
Design defects are a type of product liability claim brought when the design itself creates an unreasonable risk of harm. It means your business will be liable if a product is flawed and it injures someone.
Product liability insurance can help cover damages resulting from a product liability claim, which can include:
Manufacturing or Production Flaw
A product can have an excellent design, but there might be an error in the manufacturing or production of this product. Customers could successfully sue companies for manufacturing flaws under strict liability, mainly if they used substandard materials and substances that are unsafe for human use.
Failure-to-Warn Design Defect
There have been several lawsuits against companies where they’ve failed to warn customers about the potential side effects their products might cause. Some cases involve failures during the design process. Manufacturers don’t provide enough warning labels about possible dangers posed by their products. This type of insurance could help businesses cover costs associated with damages caused by such a lack of warnings.
Learn more about product liability insurance services from Northwest Insurance Agency
Suppose you sell pharmaceuticals, foods, vehicles, appliances that might cause harm to people and property. In that case, a lawsuit filed against you might severely hurt your business. You may be required to pay damages and the costs of the suit.
Getting product liability insurance could help you financially because it provides coverage for injury or property damage caused by your products. You’ll have peace of mind knowing that our company covers expenses for legal defense and settlement fees.
Talk to Northwest Insurance Agency today and get product liability insurance tailored for your business!
