Product liability insurance for Importers (sometimes called Import liability insurance) can save you from financial ruin, in case your products would be the case of injury or property damage.
Falling back on your supplier is never an option, so get used to the fact that you will be on your own to deal with possible product liability claims in the future.
This is covered:
- What is covered by a product liability insurance?
- What is not covered?
- For what kind of products is an insurance necessary?
- Do I need a product liability insurance to sell on Amazon?
- Can I get an insurance for the US if I sell in another country?
We also provide a list of companies offering product liability insurance products in the United States, the European Union and the United Kingdom, Australia, New Zealand and Canada.
What is product liability insurance?
A product liability insurance can protect your business against personal injury or property damage claims. If you sell a product that, for any reason, harms a customer or damage property, the insurance covers legal and court fees.
With a product liability insurance, you are unprotected. Injury or damage claims can cost hundreds of thousands of dollars.
It’s practically impossible to be completely certain that your products don’t pose any risk whatsoever to your customers – regardless of how many quality checks and lab tests you do.
These are a few examples what might go wrong:
a. Li-ion battery powered devices: Fire hazard, explosion hazard
b. Children’s products: Choking hazard
c. Furniture: Fire hazard
d. Apparel: Choking hazard
e. Food contact materials. Food and beverage contamination hazard