Product Liability Insurance in Massachusetts

WHAT IS IT? WHO NEEDS IT? COVERAGES OFFERED

Product liability insurance is a specialized commercial insurance that’s designed to address product-related risks. As is the case with most liability insurances, the coverage will usually help pay for court fees, attorney fees, settlements and judgments that are associated with covered claims.

Manufacturers
Distributors
Wholesalers

Product liability coverage may extend to a range of different products, depending on a particular policy’s terms and conditions. Policies are available for everything from inexpensive dollar-store toys to luxury vehicles that cost tens of thousands. Policies can cover tools, furniture, cribs, windows many other items. There are even policies crafted for foods and beverages.

What is Product Liability Insurance?

Businesses that manufacture or sell products can be held responsible for accidents long after the products are sold, potentially being held financially liable for injuries or property damage. Product liability insurance can help Massachusetts businesses protect against product-related risks.

What Massachusetts Businesses Should Carry Product Liability Coverage?

Most Massachusetts businesses that manufacture and/or sell products can likely benefit from the protections that product liability coverage affords. This encompasses many different businesses in a variety of industries. The following are a few examples of businesses that might want the coverage:

Manufacturers
Distributors
Wholesalers
Retailers
Ecommerce sellers

TESTIMONIALS

Customers Love Us

When I called the staff at Paul T. Murphy Insurance, they explained how auto reform would allow me to increase coverage and save money at the same time. I moved my home and umbrella insurance to my current auto carrier and saved over $350. In July 2008 when my auto insurance renews with Safety Insurance, I will save another $300 just for having my auto and home insurance with the same company. The staff at Paul T Murphy Insurance Agency really understands the new Massachusetts reform and how to pass savings and additional coverage to their clients.

Frank

Winchester, MA
After many years of doing business with the Paul T. Murphy Insurance Agency, I am thrilled to learn of this relationship with Northrup to service the Lynnfield area. I have trusted both my personal and business policies with Paul and have never received less than the best of service. I like the face that they service as professionals but treat you like a friend. Recently during a complicated Workers Comp claim, Paul showed up to walk me through what I thought would be a mess of paperwork and confusion – the personalized service I receive spoke volumes. I have never gotten service like that from anyone else. I also like the fact that they are always ready to save me money without ever compromising my coverage.

Tony Bartolo

Lynnfield, MA
One of the best business and personal decisions I ever made was to collaborate with Paul Murphy Insurance Company for our families insurance needs. Starting with our business policies, then eventually all of our personal policies, we have slowly transitioned all to be managed by PMI. Many companies loosely tout that they treat you as one of the family; PMI proves it in their actions. We are glad we are part of their family.

Kelly Ilebode

Boston, MA

Warehouses, freight transporters and last-mile delivery services might want the coverage too. Although these businesses don’t necessarily make or sell products, they could be held financially responsible if damage occurs while they’re holding the products and that damage leads to an accident.

What Kinds of Products Can Be Covered By Product Liability Coverage?

While many products can be covered by this type of insurance, not every policy is suitable for all product categories. Businesses should work with an insurance agent who knows product liability well when they’re selecting a policy, as a knowledgeable agent will be able to make sure that a policy is well-suited for a business’ products.

Does General Liability Insurance Include Product Liability Coverage?

Some general liability insurance policies provide product liability coverage. Not all do, though, and those that do may have low product liability limits. Businesses that need product liability coverage are often better protected by purchasing a product liability-specific policy.

Is Product Liability Coverage Available Through Package Policies?

Product liability coverage is widely available through package policies, and both business owners' policies and commercial package policies can offer the coverage.

Business owner's policies are more limited package policies meant for small businesses that have basic insurance needs. These policies usually don’t include product liability coverage as a standard protection, but a few offer the coverage as an optional feature.

Commercial package policies tend to be more comprehensive and more customizable policies. Product liability coverage might not be a standard feature because these policies commonly are customized, but the coverage can be added to most commercial package policies.

How Much Are Premiums for Product Liability Coverage?

Premiums for product liability coverage are based on many factors and thus vary. The number of products, types of products and past claims are just a few of the details that can influence a policy’s cost.

For an accurate determination of how much product liability premiums will be in a particular situation, businesses should talk to an independent insurance agent. Because independent agents aren’t connected to any one insurance company, they can show businesses customized quotes from various insurers.

How Can Businesses in Massachusetts Get Product Liability Insurance?

For help finding product liability insurance in Massachusetts, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents have the expertise necessary to help you find the best available product liability policy, and we can recommend the best policy regardless of what insurance company offers it.

Proud Partner of

This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.