Product Liability Insurance
Almont, Clinton Twp

What is product liability coverage?

Every manufacturer, in every industry, makes products that could run the risks of harming others.

• If you run a restaurant, you might serve food that causes a client to get sick.
• If you make soap, one of your products might give someone an allergic reaction.
• A ceramic mug you make might shatter, spill a hot liquid and burn someone.
• Your handmade candles might have a flaw that causes them to flare up and spark house fires.

If you made the item, then if the worst does happen, you might have to repay the affected party. Product liability insurance in Michigan is the coverage that will help you cover the costs of damage your products do to others. That way, you won’t have to bear the burden of someone else’s losses out-of-pocket.

What will a product liability policy cover?

Product liability policies usually cover a few types of losses:

• Property damage coverage: If you manufacture grills, and one explodes and causes a house fire, then this coverage can pay for the property owner’s recovery.
• Bodily injury coverage: If a restaurant serves someone a salad, which subsequently makes them sick, then coverage can help pay this person’s medical bills and other recovery costs.
• Legal assistance: This coverage can apply to both property and bodily injury claims. If someone sues you over their damage, your policy might pay court fees, settlements and other costs.

Your product liability insurance coverage can work alongside completed-operations liability coverage. It will apply if you do a project which later harms someone else. So, if you are an electrician, and you make home repairs that cause a fire, then you might have to use this policy to cover the client’s property damage.

Do you need product liability insurance?

Nearly any business that sells any product needs a product liability insurance policy with First Independent Agency in Metro Detroit. Think of it this way:

• It doesn’t matter if you had no responsibility for the product damage; a lawsuit might still arise, and you might have to respond.
• Simply selling or distributing a product (or its parts) might put you at risk of a challenge. Often, it doesn’t matter if you were not a product’s manufacturer for you to get hit with a lawsuit.

Never hesitate to talk to your First Independent Insurance agent about the exact purpose of your business and products. We’ll help you tailor product liability coverage to your direct needs.

Is product liability insurance included in general liability policies?

In many cases, you can get product liability insurance as part of your commercial general liability insurance policy. CGL policies apply to numerous injury and property damage risks associated with the business, not just product liability coverage. Often, you’ll be able to get the general liability coverage as part of your business owners policy (BOP) or commercial policy package (CPP).

What is the cost of product liability insurance?

Your policy’s premiums will vary considerably, based on numerous risk factors. However, an insurance premium is always going to be less costly than a product liability lawsuit for a company that has no coverage. That’s why you should always carry this policy, no matter how big or small your business.

Superior Policy Services When You Need Them

First Independent Agency understands that you want to get the right product liability policy on the first try. Choose us, and you won’t have to worry. We are commercial insurance experts, and can help any Michigan business owner find coverage that offers holistic protection around the clock.

Call us at (888) 513-8784 or request your online quote today! We’re ready to help you protect your business in the best possible ways.

Frequently Asked Questions

• How much does trucking insurance cost? 

  Your commercial trucking insurance premium can vary a lot from someone else's, even if you're in similar situations or have similar policies. Some factors that affect premiums include:

  • The type(s) of vehicles you're insuring.
  • How far vehicles are traveling per year.
  • Types of cargo. Drivers' driving records.
  • The location of your center of operations.
  • Standard operating radius.
  • How you store the vehicle(s).
  • Amount of coverage you opt for.

  As commercial trucking insurance professionals, we strive to know you and your worries. We spend time listening and learning to serve you better and help you find solutions. You've worked hard to build and promote your trucking operation. The next step is to protect it. We'll assess your risks and help you tailor an insurance policy. We'd love to chat with you. Contact First Independent Agency today!

• What does trucking insurance cover? 

  Every trucking insurance policy is a little different from the rest based on your or your company's needs. That said, there are several common coverages you can include when building your trucking liability insurance policy.

• How does commercial trucking insurance work? 
  Out of all the types of business insurance available, trucking insurance is one of the more unique ones. Yes, it protects trucks that transfer products and goods from one place to another, which isn't anything groundbreaking.   What makes commercial trucking insurance special is how it's purchased. If you're an independent trucker with your own big rig or semi, then you buy it for yourself. Or you may be part of a larger trucking company that owns the vehicles outright. In this case, the company is responsible for insuring the trucks.   Regardless of who purchases the policy, trucking insurance is there for you when commercial auto insurance just won't cut it. Trucking usually requires many straight hours of driving, often across state borders, and involves many unpredictable risks. Between the constant wear and tear on the machinery and environmental factors on the road, you need insurance that'll be there, rain or shine. 
•  Who can use trucking insurance?  
   You already know trucking isn't isolated to a single industry or specialty good. In fact, in 2020, 72.5% of the total domestic tonnage shipped was transported by truck. There are many types of trucks on the road, and trucking liability insurance can account for them all. A few examples of companies and trucks that can use commercial trucking insurance include:   Livestock Trailers and Movers  Moving Companies  Delivery Drivers  Container Haulers  Cement Mixers  Tow Trucks  Box Trucks  Construction Material Movers  Dump Trucks  Automotive Haulers 
• What kind of insurance does a truck driver need? 
  Federal guidelines require you to have commercial truck insurance for all interstate transportation. As we mentioned in the first section, only the direct owner of the truck needs to maintain the policy, whether it's an independent contractor or a larger company.  The amount of coverage required varies, based primarily on what you're hauling.  If your trucking operations stay within a single state, you don't have to worry about the federal insurance requirements. However, you may be subject to state insurance requirements, so be sure to take the time and double check. 
• Do truckers need general liability insurance? 

  General liability insurance is different from trucking liability insurance. They sound similar but cover very different things. You don't need it like you need trucking insurance, but it's still very beneficial coverage to have.  With general liability insurance, you cover things associated with business, not trucking or transportation themselves. A couple of these coverages include: 

  • Bodily injury and property damage that occurs due to a covered incident. 
  • Personal or advertising injury. 
• What risks does rafting insurance cover?

  Every rafting insurance policy is unique, meaning every policy premium will also be unique. Because there’s so much variation between rafting businesses, there’s no precise estimate for your premium. However, we can tell you what factors may influence how much you pay.

  • Your business’s location
  • Claims history
  • Size of your operation
  • Number of employees
  • Your chosen deductible
  • Amount of coverage you choose
• What risks does rafting insurance cover?

  Even if your guests have signed a waiver, you risk a lawsuit or liability claim if something goes wrong on your excursions. We provide coverage solutions for a variety of exposures faced by white water rafting outfitters and guides, including:

  • Equipment rentals
  • Guided water trips
  • Office/facility for rental purchases and instruction
  • Equipment storage areas
  • Transportation to and from the water
  • Food and beverage concessions
  • Instruction
  • Camping
  • Hiking
  • Retail sales
• Do I need rafting outfitter and guide insurance?

  Do you rent rafts or give rafting lessons? Do you guide clients across waterways or downriver? Or are you hosting a special event that includes rafting? If yes, you should consider purchasing a rafting insurance policy.

• What type of rafting insurance do I need?

  The exact coverage you need will vary based on your business’s operations. However, some types of insurance can benefit almost every rafting business.

  • General Liability – Protects your company against bodily injuries, property damage, product damage, and more.
  • Commercial Auto – Even if you use a personal vehicle for work, a personal auto insurance policy doesn’t cover the car while it’s used for work purposes.
  • Watercraft and Boat Liability – Can cover costs for boat repair or replacement, damage to someone else’s property, and medical bills when people are injured.
  • Retail Property Coverage – Offers commercial structures, business personal property, and machinery protection.
  • Inland Marine Equipment Coverage – You can protect stored equipment in an off-site location and any equipment you’re transporting.
  • Workers Compensation – If any employees are injured or become ill on the job, this insurance can cover the payment of their medical expenses, lost wages, and rehabilitation costs.
• What is medical professional liability?
  You may have heard other names for this type of insurance such as medical liability insurance, malpractice insurance, and medical malpractice insurance. Regardless of what term used, medical malpractice insurance provides a second line of defense if you are faced with a malpractice lawsuit. You can tailor a policy to fit your unique needs. Some coverage options include the following: Misdiagnosis Surgical errors Medication errors Childbirth-related injuries Anesthesia administration errors Settlement costs Punitive and compensatory damages Attorney and court costs Arbitration
• Who needs malpractice insurance?

  Medical malpractice insurance is essential for anyone who provides healthcare services. You may be covered under your employer. However, this coverage may have limitations, so make sure to find out what these limitations are from your local First Independent Agency insurance agent.

  Remember, it's not just physicians and surgeons who need medical liability insurance. Other medical professionals can benefit from coverage, including:

  • Social workers
  • Therapists
  • Counselors
  • Physical therapists
  • Pharmacists
  • Nurses
  • Dentists
  • Radiologists
• Is medical malpractice insurance required near you?

  Medical professional liability insurance requirements vary from state to state. Malpractice insurance is required in these states:

  • Colorado
  • Connecticut
  • Kansas
  • Massachusetts
  • New Jersey
  • Rhode Island
  • Wisconsin

  The following states have claim-assistance programs requiring you to have a minimum amount of malpractice insurance coverage to participate:

  • Indiana
  • Louisiana
  • Nebraska
  • New Mexico
  • New York
  • Pennsylvania
  • Wyoming
• What does medical liability insurance look like?

  Claims-made and occurrence policies are the two most common coverage options. While both give you a second line of defense, they have key differences.

  Claims-made policies only cover a claim if both the treatment occurred and the lawsuit was filed while the policy was active.

  Occurrence policies will cover claims that take place during the coverage period, even if the treatment did not occur during the active policy.

• What is manufacturing insurance?
  The term manufacturing insurance covers a wide range of policies available for purchase by manufacturing companies. There isn't one, all-encompassing insurance policy for manufacturing that will cover your entire range of risks. However, there is an upside. Because your company is unique, you can tailor coverage to best fit your company's needs. You can find coverage options for all types of manufacturing. Some examples of different manufacturers include: Bottling and Canning Clothing Manufacturers Textile Creators Electronics Machinery Forging Casting Meat Packing Plant Printers Furniture Manufacturers
• Who needs manufacturing insurance?

  Anybody with a manufacturing company. Consider doing a brief self-evaluation by asking yourself the following questions:

  • Does your company have the finances to survive a mass product recall?
  • Can your manufacturing facility afford excess downtime if a natural disaster happens?
  • Will you be able to repair or replace heavy machinery if it breaks down?

  If your answer to any of these questions is yes, it is strongly recommended that you protect yourself and your business with manufacturing insurance.

• What manufacturing insurance coverage do I need?

  The exact coverage you choose will vary because your company and its risks are unique. However, there are some core policies we strongly recommend for all manufacturing company owners.

  • Workers Compensation
  • Commercial Auto
  • Professional Liability
  • Business Owners Policy (BOP)

  The coverages listed above don’t cover everything. Depending on your manufacturing company, you may also benefit from the following policies:

  • Earthquake
  • Umbrella
  • Equipment Breakdown
  • Manufacturers Errors and Omissions
  • Product Recall and Replacement
• Do you or your employees act as specialists providing custom design and manufacturing services that may cause a client financial damage through any errors or omissions?
  If so, then you should maintain a professional liability policy. You work hard to perform your duties and responsibilities to the best of your ability, but you may face a lawsuit if your customer isn't satisfied. Protect your employees, your business, and yourself with a professional liability policy.
• What affects manufacturing insurance premiums?
  You run a unique company with unique factors and risks. Each factor and risk play a part in determining your company's manufacturing insurance premiums. Some of these risks and factors include: Specific Industry Your Recommended Insurance Limits Use of Heavy-Duty Machinery Presence of Hazardous Materials Vehicles Number of Employees Claim History As professionals in manufacturing insurance, we make it our business to know you and your concerns. We spend time learning and listening to better serve you, our clients. You've worked hard to build your company. The next step is to protect it. We'll assess what your risks are and help you tailor an insurance policy for your company. We'd love to chat with you. Contact us today!
• What are the risks of being a logger?
  As a professional in the logging industry, you know risks are a given. It's no surprise that logging is one of the most dangerous and difficult occupations in the U.S.