Product Liability Insurance in Easley, SC

If your company produces, sells or otherwise participates in distributing goods, you must account for many risks and exposures. Regardless of experience or attention to detail, errors may inevitably occur during production or distribution, potentially causing harm to your customers and incurring costly financial consequences. Understanding product liability insurance and how it may cover losses in such situations can make all the difference.

What Is Product Liability Insurance?

As its name suggests, this type of coverage focuses on financially protecting your business against liabilities involving its goods and products. Any product can potentially cause harm to customers, clients and other third parties, as defects, unsafe materials and other issues could cause accidental injuries and property damage. Fortunately, by securing this type of insurance and keeping up with your premiums, you retain access to potential financial aid for managing losses and lawsuits.

Product liability insurance may be available as a standalone policy but is also often retained as part of general liability insurance. A qualified insurance professional, such as those at Mahaffey Insurance Agency, can help assess your business coverage needs and options.

What Does My Policy Cover?

When facing product liability allegations, you may be eligible for financial aid via your policy. If your claims are approved, they may garner payouts that can assist with managing losses and expenses arising from many common situations, such as the following:

• Product defects, such as if you distribute electronics that overheat or short out, potentially causing a fire or other property damage
• Contamination, such as if food or beverages you sell cause illness \
• Inadequate instructions, such as if your goods lack appropriate safety warnings, resulting in misuse and subsequent injuries

How Much Coverage Do I Need?

Your business’s product liability coverage needs are unique and may be influenced by many aspects of its operations. Consider the following factors:

• Industry
• Estimated annual sales
• Types of products you distribute
• Number of clients and customers
• Location

We’re Here to Help

Contact Mahaffey Insurance Agency to learn more about product liability coverage or get a free quote.