What is a product liability insurance policy?

A product liability insurance policy is a form of insurance coverage for businesses that manufacture and/or sell products. In Washington, product liability insurance helps protect businesses from financial losses caused by the potential damages due to their products. Damages could be caused by an injury or other damages, like property damage, that result from the use of the product. Product liability insurance is important for businesses because it helps them protect against negligent acts, defects, or malfunctioning products that injure someone or cause property damage. It may also cover lawsuits that seek to hold the company liable for a dangerous product. Product liability insurance covers the costs associated with defending against a liability lawsuit and any settlements or medical expenses that may result from the incident. In some cases, depending on the policy, the insurance may also cover recall or repair expenses. It is important for businesses to have product liability insurance in order to protect the business and its employees from the potential financial losses caused by dangerous products. In Washington, businesses that have a product liability insurance policy are better able to protect their customers and ensure that products are safe to use.

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