Product Liability Insurance
Product Liability Insurance from Coughlin Insurance Services
No matter how much effort your business puts towards quality control, there’s always a risk of product failure. Perhaps a toy presents a choking hazard that couldn’t have been anticipated, or a bakery uses an ingredient that causes a customer’s severe allergic reaction.
The potential for injury or property damage caused by a manufactured product is always a risk. That’s why ANY business that sells a product MUST have product liability insurance.
Comprehensive Protection Beyond the Basics
Usually, product liability claims fall into one of three classifications:
- Manufacturing or Production Defects – claiming that during the production process, something happened that created a defect in the final product, which made it unreasonably dangerous to use.
- Design Defects – claiming that the design itself has rendered the product unsafe
- Defects in Product Warnings or Instructions – claiming the seller failed to adequately instruct concerning the proper and prudent use of the product or failed to properly warn the consumer of the product’s risks.
Did you know that you don’t have to be found negligent to loose a product liability suit?
A manufacturer can be sued under what is known as strict liability, which isn’t based on fault. Rather, an injured party could win a product liability suit by proving all of these claims:
- Your product contained a dangerous defect.
- Your product caused their injury.
- The injury happened as the plaintiff was using your product for it’s intended use.
- No substantial alterations or changes were made to the product after it was purchased by the buyer.
These are what you might call the ‘basics’ of product liability. However, there are many ‘incidental risks’ that wreak havoc on a manufacturer if not properly insured. For instance, what happens when a supplier recalls a product used in the manufacturing of your product? How do you recoup the losses? How does equipment breakdown affect your ability to maintain your business?
These are risks that few consider UNTIL they become a reality…and by then, it’s too late. The obvious risks are easy…it’s the less considered risks that are more likely to cripple a company.
The professionals at Coughlin Insurance Services dig deeper to expose the types of risks that are common yet often overlooked. We present solid, comprehensive coverage that ensures your business survives when the unexpected occurs.
Coughlin Insurance Services is an Independent Insurance Agency. We represent a vast network of the nation’s top insurance carriers, including many companies that specialize in a variety of commercial insurance products, including product liability. This allows us to be incredibly flexible in the protection we can offer. From broad product and completed operations liability to discontinued product liability and so much more, we’ll tailor coverage that takes the worry out of product liability.
Coughlin Insurance Services for ALL your Commercial Insurance Needs
Our Specialty Insurance Options for Commercial interests include:
- Errors & Omissions
- Business Interruption
- Builder’s Risk Insurance
- Garage liability
- Mechanic and body shop
- Cabs and Limousines
- Commercial Autos & Fleet
- Group Life, Disability & Health
- Cyber Liability Insurance
- Ocean Marine
- Product Liability
- Builders Risk
- Food Importers
- Metal manufacturer
- Lighting manufacturer