Product liability insurance offers your business financial protection in the event that you are the subject of a claim for compensation costs as a result of injury or damage caused by a faulty product that you have made, sold, or supplied.
It will usually cover the cost of the award for compensation, replacement or repair of any damaged property, legal fees as a result of defending the claim, and medical expenses incurred as a result of the injury or damage.
Compare business insurance quotes from every insurer.
Take our 90-second online assessment and get the best business insurance quotes on the market. Our vetted business insurance partners are regulated by the Central Bank of Ireland and will outline the various options available to you.
Product liability insurance is usually sold as part of a wider package of business insurance tailored to your business.
This can include commercial building insurance, cover for your contents or stock, business interruption cover, money cover, and liability insurance – public liability cover, product liability cover, and employers liability cover.
Business insurance for trades people usually includes product liability cover. If the result of your work causes injury or damage to a third party due to a faulty product or component, then you will be held liable and you will need product liability insurance cover.
What is product recall insurance?
Product recall insurance is similar to product liability insurance. It offers protection if, due to a safety concern, a product needs to be recalled.
Product recall insurance covers – advertising a recall, the collection and disposal of the recalled product, as well as replacement of the recalled items to the consumer. Usually, product recall affects food and beverage products, but not exclusively.
Contaminated products insurance is similar and covers food, beverages, and pharmaceutical, and cosmetics. Both insurances may also offer cover for pr and mitigating the effects of adverse publicity
Who needs product liability insurance?
Anyone involved anywhere in the supply chain of a physical product will need product liability insurance.
Wherever you are in the supply chain of a product, you can be liable if that product causes injury or damage to a third party or their property due to a defect and you will need product liability cover to protect you from a potential claim and legal costs in defending yourself.
If you are involved in manufacture, import, distribution, retail, service, repair, maintenance, or alteration of physical products or their component parts, then you will need product liability insurance cover.
Tailored Business Insurance Quotes
We are Ireland’s first impartial insurance comparison website.
Our mission is to help consumers find the best insurance deals in Ireland
All research is examined through an independent market research body
Our central bank regulated insurance partners will provide you with free business insurance quotes from every provider so you always get the best deal
If you are a manufacturer, supplier, online or physical retailer, offer maintenance or repair services, sell second hand products, and you, even accidentally, cause injury or harm to another person due to faulty goods, then you need product liability insurance. Small businesses have gone out of business due to the cost of defending compensation claims.
Yes. Product liability insurance will cover legal defence costs in defending a claim against you, compensation costs, medical expenses arising from the claim, and repair or replacement of any damaged property.