Product Liability Insurance

Product Liability Insurance

Fast & Affordable Business Insurance Solutions

Accidents do happen, no matter how well-designed the products you create or sell are, so it’s critical that you’re well covered. Businesses can get product liability insurance as part of the same policy that covers public liability and professional indemnity.
Whether you sell cosmetics, medical devices, or construction equipment, you can protect your firm from product liability claims by protecting your products. In Alberta, Team iSmart Insurance can assist you in finding coverage that is matched to your needs and sector.
A product liability policy protects you from costs associated with compensation claims and expenses incurred for the completed job or the product itself, as well as damages to others’ properties, injuries, and property loss. The law doesn’t mandate product liability insurance, but your business partners, suppliers, and distributors may insist on it. Moreover, you may be sued if you are found responsible for the injuries, damages, or deaths that resulted from your products.

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It is highly recommended that you obtain product liability insurance as soon as you intend to handle products. Combined with a public liability policy, product liability insurance provides an additional layer of protection for those who work in the supply chain.

As a result, having insurance may be necessary whether you’re a manufacturer, a supplier, or a retailer when you start supplying, manufacturing, or selling to the general public.

Having a solid strategy can help everyone from small local retailers to large-scale manufacturers feel more secure.
In many cases, products liability insurance can be purchased in conjunction with public liability insurance under a single policy. On the other hand, a standalone product policy can be beneficial for risks with higher exposure.
At iSmart, we have access to various unique insurance schemes that cover a wide range of product-related risks, including electronic devices, vape, and e-cigarettes, as well as food and beverage supplies. Our staff of knowledgeable insurance consultants will make it their mission to assist you in understanding your risk and comparing quotes from Alberta’s top insurers.
Product Liability Insurance 1

You will require different amounts of product liability insurance, subject to the type of product and how large any compensation claims could be.


When deciding how much product liability insurance you need, consider the potential compensation in case your product harms a customer or their property. If your clients have contracts, review them to ascertain if you are required to have public liability or product liability insurance.


You might have to pay for property repairs and replacements, as well as lost wages and medical expenses if someone is injured when filing a claim.

A public liability insurance policy will cover the costs of legal fees, compensation, and other expenses associated with a public liability claim arising from your business activities.


Product liability insurance covers claims caused by a defective product just like general liability insurance, which means it covers claims for injuries, illnesses, or property damage caused by your company’s design, manufacture, repair, maintenance, or sale. The product liability included in a general liability policy offers an additional layer of protection. Although they cover different topics, these articles are related.

If a product defect causes bodily harm, property damage, or even death, all those parties could face liability under the Consumer Protection Act. You must confirm that they are sufficiently insured and have completed the necessary safety and quality control checks to do business with someone. Each situation is different, and who is responsible is determined by various variables. In the end, you may still have to pay legal fees even if you’re found not guilty.

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