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What is Product Liability Insurance?

As the owner of a business, you are liable for any products you manufacture or sell—and if somebody is hurt as a result of using the product, you may be at fault for the incident.

When you ask for coverage from our agency, we will determine the likelihood of a lawsuit being brought against you as a result of one of your products being used. Our experts can identify the risks associated with your products or services and appropriately scale a policy to cover those risks. We can also offer advice on how to make your products less prone to risk. This may involve modifying your product, packaging it differently, or changing any instructions and warnings included with the product. When done well, these precautions can help reduce the company's liability and stop customers from using the product in an unsafe way.

Do I need Product Liability Insurance?

If your company manufactures or sells any kind of product, it is strongly recommended that you have some form of liability coverage. Even products that are widely regarded as 'safe' can malfunction in a way that causes harm to the user, and defending against a lawsuit is usually expensive enough that many companies (and claimants) prefer to simply settle out of court. Product liability insurance can reimburse you for expenses (including defense costs and settlements) that occurred during this process.

Product liability cases that go to court are among the most expensive forms of personal injury cases, and as of 2013 these cases had an average payout of more than $6 million. All companies that obtain this type of coverage are encouraged to have a policy limit higher than the median payout—anything less makes it likely that your company will suffer significant losses if a jury decides against you.

Don't forget to talk to your agent on a regular basis as your business continues to grow. Larger businesses often face larger risks than smaller ones (including, among other things, increased exposure as a result of having more customers who could potentially file a lawsuit). A plan that suffices for a small company may not be enough to protect a large one.

What does Product Liability Insurance Cover?

Product liability insurance mainly covers the legal obligations of a company. This may include payments like:

  • Court fees
  • Legal defense costs
  • Personal injury awards
  • Out-of-court settlements
  • Miscellaneous fees that may occur during any of the above

If you feel any of these forms of coverage are missing from your policy, or if you are starting a business and need product liability coverage, speak to a Noltensmeyer Insurance Services agent or request a quote today.

 

1. Ross, Kenneth. "The Role of Product Instructions in Product Liability Prevention." In Compliance. April 30, 2015. Accessed April 18, 2016. http://incompliancemag.com/article/the-role-of-product-instructions-in-product-liability-prevention/.

2. "Settle Your Personal Injury Claim." AllLaw.com. Accessed April 18, 2016. http://www.alllaw.com/resources/personal-injury/settle-your-personal-injury-claim.

3. "Product Liability." III. Accessed April 18, 2016. http://www.iii.org/fact-statistic/product-liability.

Our Locations

Richmond/Sugar Land Office

6546 Greatwood Pkwy Suite A
Sugar Land, TX 77479
Main office: 281-609-7942

Houston Office

10777 Westheimer Rd Suite 107
Houston, TX 77042
Main office: 281-609-7942

Memorial Office

14520 Memorial Dr Ste K
Houston, TX 77079
Main office: 281-493-4111

Cook Insurance Services

140 Eldridge Road Suite F
Sugar Land, TX 77478
Main office: 281-789-6288

Godbee Insurance Agency

4655 Sweetwater Blvd Suite 250
Sugar Land, TX 77479
Main office: 832-981-2479

Tyler Office

113 Shelley Drive
Tyler , TX 75701
Main office: 903-307-2073

West Houston Office

14530 Old Katy Rd Suite 125
Houston, TX 77079
Main office: 281-819-3293

Our Providers

Testimonials

Our former provider rates went up dramatically when we added a teen driver so I called Noltensmeyer Insurance. Agent Natalie Bailey found us more coverage and better rates. The transition was quick & painless with outstanding customer service. This agency's knowledge and expertise gives us great peace of mind.
LeeinHouston
Missy Thomas has provided outstanding customer service for the 10+ years I have been with the agency. Her professionalism, insurance knowledge along with her vibrant personality make it a pleasure to do business with her/the agency. :)
Shawn
I noticed that our insurance rates kept going up, so I decided to do some comparative shopping. We decided on Noltenmeyer Insurance Services for three reasons; 1) we saved a lot of money on our insurance package, 2) the customer service is excellent and 3) they have a high degree knowledge and expertise and we are confident that we are adequately protected. What sets Noltenmeyer apart from others is their customer service. They are kind, patient and I never feel like I am a bother to them.
JoAnne
I have been with this company for years! Mt agent, Missy T. gives the BEST service and I will go where ever she goes. I think this company is lucky to have her and she needs a raise and promotion to Manager of a branch. If she could teach others her people skills this company would grow even more, and that is without TV/Radio advertisement. It would be from GREAT people skills and the circle process to figure out how to assist the client to get what they need and you get paid for it. I recommend Missy T. and her services to all my employees, family and friends when they tell me they are not happy with their insurance agent/company.
Anonymous
I have come to find I can depend on Missy for all my needs. She's quick to respond and always follows up. I appreciate Missy's work ethic and will continue to come to her with all my insurance needs.
LoLo
We have the best agent! She's always helpful, attentive, and pleasant. She always responds in a timely manner. Because of this, I have referred many clients to her who also feel she does a great job!!!
Robbins
Dan and his staff are helpful, caring experts who put my mind at ease regarding all of my insurance needs. I feel as though I am getting the best insurance coverage possible along with the best price available in the industry. The service and attention I have recieved over a number of years is unbeatable. I know, I tried another company to save a few bucks a few years ago and I am now back with Nationwide. The meager dollar savings couldn't make up for the loss of friendly, reliable service I get from everyone in Dan's office.
AnnG
Dan Noltensmeyer insurance has taken great care of me. I use them for auto, home, and my RV's. Any time I have a question or need some assistance, they have been right there to help me. I appreciate the customer service. Thank you so much!!
LeeAnn
A + For service, price and reliability. Keep up the great work, for that is why I have been a customer for over 9 years. Best Regards, C.E. Lothringer
Chazz
The Noltensmeyer Agency is about service. I have a wide array of insurance needs. The staff goes above and beyond to make sure all my needs are met. In today's world, I cannot afford to make a mistake with my coverages. I am confident that my needs have been coordinated to the best possible coverages available. I know that I could not receive this level of expertise with a discount house. I have been with Nationwide for ~ 15 years and plan to be for a long time to come.
ChrisH
I've been a customer for 13 years. Besides having to review some prices every once in a while, we've been very satisfied with Noltensmeyer Ins Serv LLC. Although I've never had to make a claim of any kind, I can count on their services for all my insurance needs. Keep up the good work...
Marroon5
I have been with Noltensmeyer Insurance for many many years.. Kristi at his office has always been so helpful and always takes time to help me when needed. I have never felt like I was just another customer. You can't find service like that anywhere these days. Thank you for always being such a great help when needed. AH
Homoki