Products Liability Insurance
Professional Insurance Packages for All Types of Products Liability.
Welcome to Products Liability Insurance from AIC
Does your business need Products Liability Insurance?
You should consider Product Liability Insurance if your business designs, manufactures or supplies a physical product that is sold or given away for free. Your business may be held legally responsible for any injuries to people or damage to property caused by a faulty product.
You can be held liable for faulty products even if you did not manufacture them. You may be liable for compensation if:
- Your business’s name is on the product
- Your business repairs, refurbishes or changes a product
- You imported the product from outside the European Union
- You cannot identify the product’s manufacturer, or the manufacturer has gone out of business
Insurance covers we can source for your business
Injuries
Personal injuries caused by your faulty product
Loss or damage
Loss of or damage to property caused by your faulty product
Unforeseeable circumstances
Unforeseeable circumstances such as product faults that your quality control system could not identify
What's included?
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Bespoke packages
Whether you need cover for everything or you’re just concerned over one specific piece of cover, we can formulate a bespoke package of insurance around your business.
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Dedicated account manager
A dedicated account handler will look after you, from sales through to claims, so you’ll always know who you’re dealing with.
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Best quote
Our pricing is constantly monitored and from a wide range of insurers, so you’ll always get the best quote.
Need help?
Talk to one of our friendly consultants to assess your needs and find a bespoke insurance solution to suit your business.
How to make a claim
Whilst you normally have an emergency phone number stated on your policy documents, we always recommend talking to your account handler first.
Frequently Asked Questions
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How much is insurance for a Builders Merchant?
That’s a tough question to answer without first establishing what cover you exactly need. Perhaps you want your premises covered, or maybe you just want the legal minimum cover required such as liability or vehicles? The good news is that we at AIC as brokers, have more insurers available on our panel than nearly any other firm, so we’re bound to find you the most competitive market price on whatever your insurance needs.
We’ll always recommend starting with a conversation with our helpful and friendly staff, so we can assess your needs and find the right bespoke insurance solution for you.
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How much does business insurance cost?
There is no quick answer here, although it can be a lot cheaper than people think. For example Liability insurance for a tradesperson starts at under £75 for the year.
Firstly you should think about the risks, and what you want to cover, plus we can help you understand what your legal requirements are, so then your able to form an idea of what your overall cover requirement is. With this information we at AIC can quickly asses cost from our vast array of insurers, to get you the best market price.
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Do I have to pay in full or can I do instalments?
There are two main ways you can pay your insurance: the full sum to cover the next 12 months upfront, or in 12 monthly instalments over an annual period.
The major drawback to monthly payments is paying by instalment usually makes the total cost of cover higher than it would be if you paid in one go. This is because the insurance company is effectively lending you the money to pay the premium, so it will charge you what amounts to interest on the repayments you make across the year.
By paying In full you are clearing your entire payment all in one go, meaning the insurance company won’t have to lend you the money and you won’t be due any premiums on the loan.
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How can I reduce the cost of my insurance?
Great question and one we can of course help you with! Business insurance premiums are arrived at by the analysis of your likeliness to have a loss. When you apply for coverage, your information will be analysed by an underwriter who is responsible for determining whether or not they will consider writing a policy for you. Each business has completely different circumstances and we highly advise you to get in contact with us so we can understand and advise in the best possible way.
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Talk to one of our friendly consultants to assess your needs and find a bespoke insurance solution to suit your business.