Product Liability Insurance – Compare, Quotes, Buy Product Liability Policy
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Advantages of Product Liability Insurance

Worldwide Coverage

Product liability insurance offers worldwide protection hence covers legal liabilities arising out of judgement and settlement made in any country by protecting your business worldwide.

Defense Cost Cover

Product liability insurance covers the range of expenses occurring due to a defective product. Some of them include overseas litigation, covering exports when domestic turnover is covered, and defence costs.

Comprehensive Protection

Product liability insurance covers a wide range of risks to your product due to which liability may arise. These include any defects in product, packaging defect, improper use of product or wrong user manual.


Affordable Premium

Product liability policy is available at affordable premium. You can customise the cover according to business needs by choosing from various add-ons such as vendor liability cover and technical collaboration liability cover.

Benefits of Product Liability Insurance

Third Party Injury Cover

  • Product liability insurance in India protects the insured against the liability arising out of third party bodily injury or death resulting directly or indirectly due to product manufactured or supplied by the insured.
  • Third party product liability insurance will also cover you if the people got sick due to toxic materials used in your product.
  • Product defect or package defect compromising the safety of the product and causing injury to the third party is also covered.

Property Damage Cover

  • Third party product liability insurance policy will cover liability and legal costs arising due to damage to the third party property due to malfunctioning of your product.
  • Accidental damage to the third party property due to the defective product once it has left the insured premises can be covered.
  • The policy will pay for the all the costs in defending the claim and settlement costs as well.

Additional Extensions

  • There are many extensions such as global extension, limited vendor liability and technical collaborator liability extension, which can be included in the product liability insurance policy on paying a little extra premium.
  • Liability arising out of the distribution of product by named or un-named vendors can also be introduced under the policy.
  • Product recall and product guarantee can also be introduced in the product liability policy.

Frequently Asked Questions

Product liability insurance coverage offers protection to the insured against the legal liability claims arising out of third-party property damage or if they get injured by a product manufactured or supplied by the insured. The policy indemnifies the settlement costs and the defence costs, up to the sum insured of the policy. Also, business loss, recall and replacement cost of the product is also paid by the policy.
Product recall is the cover under which the policy compensates for the costs associated with recalling the unsafe or defective products from the market which may cause bodily injury and property damage due to their use. It is not covered in basic product liability insurance. But you can include this coverage by placing a special request and paying an additional premium.
All types of product defects and problems such as defects in finished goods, errors in delivery specification, the initial design of the product, manufacturing flaws, defective instructions and warnings, and faulty packaging of the product compromising the safety of the product are covered under this policy.
Generally, willful acts, deliberate damage and intentional activity are not covered by the policy. Any illegal activity and violation of regulatory laws are also exclusions under product liability insurance. Other exclusions under this insurance include pure financial loss such as loss of goodwill or loss of market, fines, penalties and punitive damages.

Insuropedia

What are the duties of Insured under product Liability Insurance?

A product liability insurance plays an important role by safeguarding the business from various claims which may arise in respect of its products and services. Though the product liability insurance offers coverage; the policyholder has to discharge some duties under the policy as the following...
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What is Product Liability Insurance?

A product liability insurance is a policy which indemnifies the distributor, wholesaler and retailer against various losses or damages which could arise out of the consumption or use of products manufactured, sold or distributed by them.

As a manufacturer who is supplying products, you always deal ...

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Does principle of subrogation apply to Product Liability insurance? How?

Yes, the principle of subrogation applies in the case of product liability insurance as well. If a product liability insurance company settles the claim, the insurer shall be subrogated to all of the policyholder’s rights of recovering the claim amount if the loss or damage happens due to the fault of the...
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