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The 5 Best Providers of Product Liability Insurance

The product your company offers may cause damages to your customers and consumers. To protect you and your company from potential law suits, you need to have a product liability insurance policy. Below we’ll look at the top five companies on the small business insurance market that cover product liability in some way. In order to find out more in the online quote process where we could, we entered a hypothetical single location bakery with 2 employees and $100,000 in annual revenue in Wisconsin.   

After comparing 10 different companies, we recommend the five best companies for you to consider a product liability insurance policy. They include AIG, the Hartford, Nationwide, Chubb, and CNA. They all have their specific benefits to consider.

AIG – American International Group: Best for Separate and Distinct Product Liability Options

AIG offers several distinct product liability options. It offers a base product liability plan. It also has contaminated product insurance for if a product is contaminated or recalled. It also offers its RecallResponse, which covers a wide range of different recall expenses.  

AIG does not offer product liability insurance quotes online. Instead, AIG wants you to contact them through an online contact form to start the process.   

>>MORE: Full Review of AIG Small Business Insurance

The Hartford: Best for Umbrella Liability Option

The Hartford is a little more difficult to find information relating specifically to product liability insurance. It mentions product liability insurance directly on its page talking about the different types of liability insurance.  

Then, in the quote process, you can choose between four different types of insurance: property insurance, general liability insurance, workers’ compensation insurance, and commercial auto insurance. However, the general liability selection includes coverage involving claims against your products or business operations. Basically, go with this company if you’re looking for more of an umbrella liability option.  

>>MORE: How Much does General Liability Insurance Cost?

For $1 million in each occurrence and $2 million in aggregate limits, the online quote system gave us $57 a month for a base liability policy.        

>>MORE: Full Review The Hartford Small Business Insurance

>>MORE: How Much does Product Liability Insurance Cost?

Nationwide: Best for Comprehensive Coverage of Product Liability Insurance

For Nationwide, the quote system does not mention product liability insurance specifically. However, Nationwide’s site does have a page mentioning product liability. It covers the legal fees associated with a product liability claim or lawsuit. It also covers medical costs, compensatory damages and business damages, which is fairly comprehensive. The company wants you to call to start the quote process.    

>>MORE: Full Review of Nationwide Small Business Insurance 

Chubb: Best for Customized Claim Management

Chubb specializes in customized claim management through the ESIS ProClaim system. Basically, it looks at your specific situation to help with the claims process, including expense control, litigation management and claim intake. Go with this company if you want a service that is highly customizable even after you purchase a policy. Chubb is another company that wants you to contact them directly to learn more.     

>>MORE: Full Review of Chubb Small Business Review

CNA: Best Product Liability Insurance for Manufacturing Companies

CNA is an interesting option in that it specifically insures manufacturing companies. If you want a product that’s specifically tailored to your manufacturing operation, this is the company to contact. It covers in the event of claims against a flawed component or product you fabricated. In order to start setting up a plan and getting a quote, the company wants you to contact an agent.  

Different companies have different products and different products may cause different types of damages. In order to protect you and your company from potential law suits that your product may cause, you should shop around with a few companies and compare their coverage details and limits to choose the best one for you.

>>MORE: Best General Liability Insurance For Small Businesses


How much does it cost for product liability insurance?

Unfortunately, this question has no one answer. Price can fluctuate based on industry risk and the size of your business. However, for reference, we did get a $57/month quote from the Hartford for a small bakery.

Is product liability insurance included in general liability?

Sometimes yes, but usually it is a separate product. Be sure to check with different companies to make sure what is all covered in each policy.

Do I need product liability insurance?

If you sell or manufacture a physical good, you should consider product liability insurance. All it takes is one person to be harmed in some way by your product for a lawsuit to result.

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