Product liability insurance - Protection against damage by your products
Do you sell or produce products? Then you run the risk of being held liable if your product causes damage. A product liability insurance protects your company against high damage claims , personal injury and material damage resulting from defects in your products. Whether you are a manufacturer, importer or supplier, with this insurance you cover yourself against financial risks and legal procedures.
What is a product liability insurance?
A product liability insurance covers damage caused by a defective or defective product. If a customer or third party suffers damage from your product, you as an entrepreneur can be held liable by law. This also applies if you import products from countries outside the EU or sell under your own brand name. The insurance offers coverage for:
✔ Personal injury- if a customer is injured by your product (for example an exploding power bank)
✔ Material damage- Damage to the property of third parties caused by a defective product (for example, an overheated charger caused a fire)
✔ Legal costs- coverage of lawyer and costs of liability in liability or usage errors
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We compare liability insurance Finass insures ) with the best insurers, so you get the best and most affordable premium from us liability insurance
For whom is a product liability insurance suitable?
✔ Manufacturers - you are responsible for the quality and safety of your products
✔ Importers - If you import products from outside the EU, you wear the legal product liability
✔ Wholesale and suppliers - even if you have not produced the products yourself
✔ Webshops and retailers - certainty if you sell products - also when you also sell sellers - salesmers
- when you are branded salesmen - when you also sell sellers and dropsmen - when you also sell sellers and dropsmen and when you are sold -offs - when you also sell salesmers and when you can sell salesmen and when you are sold -offs. are, you are responsible
Why is a product liability insurance important?
🔹 Legal liability - In the Netherlands, as an entrepreneur, according to the Act, you are liable for damage due to defective products
🔹 Protection against high damage claims - Personal Injury Schadeclaims can rise to tens of thousands of euros
🔹 Mandatory for imports outside the EU - If you import products from outside the European Union, you are a lawyer
with customers and partners - a strong trust in a strengthened trust in a Serious person. Product safety and customer service
🔹 Coverage of legal costs - including costs of legal assistance, process operations and any settlements
Frequently asked questions about Liability :
With liability insurance you are insured if you are legally liable for damage. For example, if you cycle into a parked car, your cat knocks over an expensive vase or if your children shoot a ball through the neighbor's window. But also if you, your child or pet injure someone. Not every damage is insured. Consider intentional damage or damage caused with a motor vehicle. Rented items are also not covered by your liability insurance. For example, if you rent a sander for that painting job in the house. Or if you rent a party tent for a garden party.
Liability insurance reimburses the damage you cause to other people's belongings. Like the television that slips out of your hands during a friend's move. Or your child who cycles into the neighbor's car. Or if someone else is injured through your fault.
Liability insurance for private individuals (AVP) covers damage that you or one of your family members causes to someone else when you are not driving a car or other motor vehicle . This applies to damage to property and persons (personal injury).
You take liability insurance because you want to protect yourself and your family against the risk of liability. You can be held responsible if someone is injured through your fault. But also if you accidentally damage other people's property. Resulting in a claim for damages.
The liability insurance does not provide coverage for: damage to rented items. damage that you have caused intentionally. damage occurred during your work.
What exactly does a product liability insurance cover?
✅ Personal injury - Damage to persons Due to the use of your product
✅ Material damage - Damage to third -party stuff caused by your product
✅ Consequence damage - Damage that results from the use of your product (exclusions may apply)
✅ Legal assistance and litigation costs - Full support for legal claims and lawsuits
Take out a product liability insurance today!
Are you a manufacturer, importer, wholesaler or webshop owner and do you want to protect your company against product-related damage claims? Then choose a specialist product liability insurance and prevent financial risks.
Compare the best insurance policies now and request a free quote!
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