Compare quotes using Savvy's free comparison service to find a great deal for your product liability insurance
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Every business faces risks related to the products they make or supply, which is why it's really important to have the right product liability insurance. By comparing a number of policies, and then choosing the best one, you can minimise your stress in the knowledge that your business is fully protected.
You can compare multiple product liability insurance policies right here with Savvy. We can help you find a great offer that is appropriate for the risks you face. Savvy offers a 100% free, no-obligation quote service so you can compare insurance policies from a range of leading insurers. Get your online quotes here today through Savvy and choose the best one for your business to ensure you have the immediate coverage you need.
Product liability insurance is a type of business insurance that protects you against third-party claims relating to personal injury or property damage caused by your products. It protects you from claims of negligence for supplying an unsafe product, which includes products you may give away free of charge. It usually includes:
You can choose an insurance policy that offers cover of $5 million, or up to $20 million or more, depending on the size of your company.
The word ‘product’ has a very broad meaning in legal terms. A ‘product’ can be anything that has been:
It covers any tangible item that can be sold or supplied by a business or individual. For example, a plumber’s ‘product’ may be a completed bathroom. If the water pipes subsequently burst and flood the home, the plumber could be liable for supplying a faulty product.
Product liability insurance protects you by covering the costs of legal action taken against you for allegedly supplying any product which causes personal injury (including illness or death) or property damage.
There are a few important areas related to this type of insurance that aren’t covered by most insurance policies. Some of these can be purchased separately or may be covered by other forms of insurance. For example:
There are several factors that will have a major influence on the cost of your product liability insurance, including the following:
Compare online quotes here with Savvy today, as you may be surprised how little your insurance may cost for a whole lot of peace of mind.
Some of the aspects of product liability insurance you should look at when comparing quotes from different insurers are:
The most common forms of product liability claims result from:
Whatever goods or products your company supplies, it pays to have the best product liability insurance to protect you from third-party claims. Compare quotes from some of Australia’s leading insurers right here with Savvy and protect your company with the right business insurance policy today.
As many companies offer bundled business insurance packages, look at bonus offers that may be available to entice new customers. These can include applying no-claims bonuses or free additional months of cover as a loyalty bonus.
The insurance needs of a business are not set in stone. They’ll change as the company grows and potentially offers more or different products. Make sure you review your business insurance needs frequently, at a minimum annually, to ensure your policies are up-to-date and relevant.
If you’re considering a business insurance package, make sure there’s no duplication with other types of insurance you may already have, otherwise you could be paying for insurance you don’t need.
It always pays to compare quotes on a like-for-like basis so you can be sure you’re getting the best deal. With Savvy, you can compare quotes from a range of respected insurers free of charge, so consider your options with us to ensure you’re getting the best deal.
Find the best possible insurance coverage for your business quickly and easily here with Savvy's 100% free comparison service.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
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