Stand Alone Product Liability: Why Every Manufacturer Needs It

Imagine a world where every time you purchased a new product, you had to worry about whether or not it was going to cause you harm. You might hesitate to buy that new electronic gadget or appliance, wondering if it was going to short circuit and start a fire, or if the materials used in its construction were toxic and could cause you to get sick.

As a manufacturer, this type of uncertainty can be just as worrying for you. If you are held responsible for a product that causes harm to a customer, it could result in costly lawsuits and damage to your reputation. This is where stand-alone product liability insurance comes in.

Stand-alone product liability insurance is a type of insurance that specifically covers the costs associated with defending and settling claims of injury or damage caused by a product that you manufacture. This includes legal fees, settlement costs, and any judgments that may be rendered against you.

Having this insurance in place can provide much-needed peace of mind for both you and your customers. It shows that you are taking steps to protect against the potential risks associated with your products, and it can help to build trust and confidence in your brand.

But stand-alone product liability insurance is not just beneficial for protecting against the unexpected. It can also help to cover the costs of recalling a faulty product, which can be a major financial burden if you are not prepared for it.

In today's litigious society, it is more important than ever for manufacturers to protect themselves and their customers by carrying stand-alone product liability insurance. It may seem like an added expense at first, but in the long run, it can save your business from financial ruin and protect your reputation.

So if you are a manufacturer, don't take the risk of going without stand-alone product liability insurance. Invest in this important coverage today and give yourself and your customers the peace of mind that you all deserve. Your future (and your wallet) will thank you.

USI Insurance specializes in structuring stand-alone product liability insurance programs. We have the best coverage to premium value ratios in the industry. Give me a call at 516-534-3554 or email: [email protected] to discuss.