If there is an insurance coverage that caters to manufacturer and seller’s needs, it’s none other than product liability insurance. The manufacturer or seller is held liable for the damage done to the third party, which may cost millions of dollars in class suits in case a number of victims are hurt and millions worth of properties are damaged, say for example fire caused by defective lights or food poisoning caused by salmonella and ptomaine in canned foods. With a product liability insurance Chicago, you will be free from financial damage when you are charged with negligence.
What is Covered by Product Liability Insurance Chicago?
Defective food products, medicines, toys, and gadgets that cause bodily injuries, property damage and death to users and bystanders cannot be avoided. Product liability insurance Chicago covers claims in relation to the manufacturing and selling of various goods to customers. These product claims include:
• Insufficient instructions and warnings of product labels-Customers are not informed well about the product safety and directions on how to use it that results in injury or death.
• Defective design-Customers can file a case against the manufacturer for producing hazardous or dangerous products.
• Production Defects-Customers can claim that the products sold by manufacturers have factory defects that may be fatal.
Indemnities for Product Liability Insurance Chicago
Retailers, wholesalers and manufacturers have the same responsibilities to their customers. In lieu of this, it is important that they need to buy a product liability insurance Chicago to free them from the economic losses if they are sued by their customers. End users have the right to express their disgust over irresponsible people that may cost or have done damage to their lives and properties. If you want security for your business, take advantage of product liability insurance that will get you covered for:
• Punitive damages
• Legal fees
• Medical expenses
• Financial damages
• Compensatory damages
If you have questions in your mind, call us (630) 947-7980 and we will provide you quick answers to your queries.