No matter what size or type of business you own, or who your clients or customers are, liability claims can run into millions.
If you are considering taking out liability cover for your business, the first thing you will most likely want to know is what the different types of cover are and what they cover.
What is Product Liability Insurance?
Product liability insurance is designed for businesses who supply products to customers or to members of the public. Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business.
If you sell, supply, provide or deliver goods, even in the form of repair or service, you may need cover against claims of goods causing injury, death or damage. It can often be included as part of a public liability insurance policy.
Even with products that appear entirely safe, there’s always the potential for something to go wrong – and accidents do happen. Claims of personal injury or property damage arising from product use (or product failure) can be incredibly expensive, and even if you’re not at fault, you may still incur considerable legal costs while defending yourself.
Product liability insurance safeguards your business by providing cover against such claims, including legal defence costs.
Other types of insurances you may wish to consider are:
Insurance solutions for your unique situation can be discussed with one of our experts - talk to us to discuss how we can help solve your insurance requirements. Simply call 1300 566 901 and speak with one of our business insurance specialists to obtain a quote.
Why use a broker?
Because without a broker - you're on your own. We work for you. As your broker, we work hard to source the most suitable cover, negotiate the best premium and act in your best interest to help you protect your investment. Because we have access to many insurers, we help you to get the best cover at the best possible price.
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Something to consider...
It is important to note that insurance reviews should be conducted regularly and when assets are acquired or disposed of and when important changes occur.
Circumstances can frequently change so you should review your insurance regularly to ensure it always provides adequate protection.