Many companies don’t understand the liabilities they face when they sell products. It should seem obvious that a product manufacturer and product distributor should have insurance but what about a business that just sells products?
Did you know that business product liability insurance can often be overlooked by many business owners as an unnecessary expense, but in reality, it is a crucial piece of your coverage package.
This type of product insurance gives you solid protection in the case that your business is brought to court by a consumer due to product defects, injury and a number of other reasons.
The type of business that you run does not make you impervious to a lawsuit. If you make a part for a product, package it, or have any connection that is found to be at fault during a suit, you will be responsible.
This can cause innumerable damage to your business’ reputation and can cost you greatly. This product insurance is worth investigating, and adding it to your coverage is one of the best business decisions that you can make.