Product Liability Insurance

[guiley]

For those of you that are doing this as a business or side business, do you carry product liability insurance on your lure business? Has anyone ever been sued because of an injury involving their lures? I'm trying to decide whether to throw down a couple of bills on insurance.

Thanks!

[michael merrill]

Guiley,

I am not positive,not having spoke to an attorney who deals with those laws,but I have seen many packages with warnings that may constitute a legal liability waiver that eliminates the need.Never heard of a successful case of personal injury against a lure manufacturer.But that sure doesn't mean there has not been one.

[Nathan]

Guiley,

Sorry for the slow response too your question..I've been out of town.Too answer your question..Yes,you need liab. insurance on your products and location if your in the lure business. (Even garage size business)

You'll need premises liab. too cover your work location.(If you work from home,and conducting a business there, your standard home owners liab. won't cover.)You'll also want "Finished products" in your liab. coverage which actually covers any damage caused by your actual product.

Alot of Home owners policies have a home business endorsment that can be added too get you what you need.Speak with your agent.

You may want some actual contents coverage aswell.Any tools etc. used in business will not be covered by your home owner policy.

I'm in the insurance business,and come across this all the time..Nathan

[nova]

From a legal perspective; would it be enough just to have a product disclaimer on the label? Saying something like "the customer accepts all liabilities at the time of purchase of this product".

Nathan I know you sell insurance for a living; but couldn't something like this work as far as the product itself goes? I agree that you should have some type of coverage at your work location, that's just common sense.