NLIC.org

Minnie Said:

product liability insurance cost?

We Answered:

As noted you can't get a quote here. Any number would be a WAG and of no validity.

You should understand that a typical insurance company will not even remotely consider insuring such a risk. That leaves you with what are called "Surplus Lines" carriers who specialize in hard to place risks. Even in the surplus lines market there will be only a few carriers that will consider offering insurance and then only after a thorough understanding of the product and its potential risks.

You need to work with an experienced commercial broker who is licensed in the surplus lines market.

Penny Said:

i need product liability insurance for my company?

We Answered:

DON'T buy off the internet! Go to a local, independent agent, and get quotes. INDEPENDENT is the key, as this will likey end up being out to a non-standard market, that you couldn't access on your own. The Farmers, Allstate, State Farm guys, none of them will be able to touch this.

Likely it's not going to be cheap. It's going to be part of the general liability coverage.

The ONLY way you're not going to be able to find coverage, at any price, is if your manufacturer doesn't have any liability coverage, and/or won't add you as additional insured under THEIR policy. So if you're importing this from China, and they won't cover you . . you're out of luck. Too much risk for ANYONE.

Gene Said:

Do I need product liability lnsurance for selling home made candles?

We Answered:

You always need product liability insurance if you want to protect yourself. And you probably need warning labels as well since there's always some idiot that will claim that he or she didn't know it wasn't safe to burn candles near a sheer curtain or on a wooden shelf under another wooden shelf. (I used to be married to one, don't laugh!)

Becky Said:

how much does product liability insurance cost?

We Answered:

Depends on what the product is. It could be as low as $1,000, for, say, brooms, or millions and millions of dollars, for nuclear reactors or airplanes.

Ella Said:

What is a product liability insurance?

We Answered:

It's insurance that covers the business/individual for bodily injury or property damage caused to third parties by products that they sell and/or service and/or install

Ramona Said:

how much is product liability insurance?

We Answered:

Product liability insurance is very important for any business or selling some thing.. Product liability insurance provides coverage against safety claims, manufacturing defects, spoilage costs, medical costs and legal defense costs. For getting the insurance you need to consult a insurance broker..

Neil Said:

what is product liability insurance and warranties??

We Answered:

Product liability is the part of insurance that kicks in and protects your business, if your product is defective and causes injury to others (think, spinach infected with e. coli). It pays your defense costs in a lawsuit, and it pays judgement, up to the policy limit.

Warranty - can be one of two things. When in reference to product liability, it's usually an important statement that the business makes. If it turns out that the business did not abide by the statement, then it totally invalidates coverage. Example: You are growing spinach. You "warrant" that you will not use a plastic irrigation system. There happens to be a drought, and in your rush to water the spinach, you use a plastic irrigation system. The spinach goes bad, but you don't know it and sell it anyway. The e. coli is discovered - but not necessarily caused by the plastic irrigation system. Oops! NO coverage for this claim, because YOU voided the policy by breaking the warrant.

The other warranty, is something like you get on a tv at best buy - if the tv is defective, the warranty will replace it free of charge. It's an agreement between the manufacturer and the purchaser, but it's NOT covered by insurance.