Product Liability is a form of General Liability and is mostly used for products of a more hazardous or complicated nature. We use product liability policies for :
- Direct Importers of Food, Beverage or other products
- Nutraceutical Products
These policies are often offered on and excess/surplus lines basis, so they incur minimum premiums from $1,000 to $10,000 depending on the nature of the product and business. They will have earned premiums of 25% and fees and taxes that are part of doing business in this marketplace. You will most likely have a deductible ranging from $ 500 to $ 5,000 or higher.