mitchellalan
Jun 1 2005, 02:48 PM
Does anyone have product liability insurance? This protects against lawsuits arising from use of products that you sold...
If you have it, who's your carrier?
Any idea of the costs?
Other advice?
Religious-Items.com
Jun 1 2005, 03:05 PM
I don't have it, but I am getting quotes...They told me that for my medical supplies it would be about $4K per year and for my non-medical supplies it would be around $500 per year.
It just depends on what your products are and the potential liability risk.
Troy
TNTGram
Jun 1 2005, 07:08 PM
I work for a manufacturer who has product liability insurance. His resellers who request it simply get a copy of the insurance rider and that's all they need. They need proof of coverage but not their own policy. Does that maybe apply in either of your cases?
I think Jean is right. I really don't see much need for product liability insurance per se, for a reseller (retailer). I'd be much more likely to get an umbrella liability policy than specific product liability if I were just reselling and not the manufacturer of the goods.
Just my 2 cents.
Ed
mitchellalan
Jun 2 2005, 11:24 PM
Thanks for the responses. The umbrella policy might make more sense since I'm just a reseller and not the mfg.
My insurance guy called me back today but I missed his call, so I'm going to find out the scoop tomorrow, hopefully.
I'll let you know what I learn.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please
click here.