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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 David Stanley & Associates, Inc. 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

Hilliard Office

5038 Cemetery Rd
Hilliard, OH 43026
Main office: 614-907-4550

Columbus Office

341 Norton Rd
Columbus, OH 43228
Main office: 614-503-7321

Our Providers

Testimonials

My primary contact is Joanne and I have been working with her for years. Joanne is knowledgeable, thorough, and responsive. My "overall rating" of "excellent" is based upon the trust that I have in her.
Philip
In my interactions with David Stanley & Associates, I have been impressed with the care they put in to taking care of their customers. They are all very knowledgeable and work hard to get things accomplished a efficient manner. They have done a great job working with me and my policy decisions.
HappyMemberHilliard
I have been a client of David Stanley & Associates and Carrie Stanley-Davis for all of my insurance needs for quite some time now. They have provided me with insurance for my own home and autos, as well as multiple businesses. I have referred them to my extended family and they have experienced the same fantastic service that I have. I have never had an issue regarding any of my insurance coverage that was not immediately resolved to my satisfaction and I continue to refer them to potential new clients whenever I get the chance. The customer service I get from Carrie and the rest of the staff at David Stanley & Associates is always exceptional!
DanS
I've been a customer of Nationwide Insurance and the David Stanley Agency for about 15 years. During that time I've had a child become a driver, bought a home, changed cars and modified my home, and unfortunately filed claims under both policies. Both Nationwide and David Stanley have been responsive and helpful during times when I was just paying my premium as well as when I had a claim. Their competitive prices and outstanding service is a combo that's hard to beat. Further, my agent has advised me on topics such as managing coverage/deductibles to control costs, and pointed out areas where my coverage might be deficient (such as an inexpensive water back up rider on my homeowner's policy when I finished my basement).
KurtOhio
We have been associated with David (Cynthia) Stanley since the early 80's and have been very please with service and knowledge they (and associates) have provided. They have gone over and above making sure that they give us all the discounts available and modifications to policies that best suites are needs. This is why were are still with David Stanley & Associates with all the advertising and gimmicks out there about how much you will save by switching. When you have something that works for you don't mess with it.
SameOldCustomer
The staff is kind, wonderful and also excited to help when needed. They are very forgiving when I miss a deadline and offer many options to keep me up to date on insurance. Carrie is a big sweetheart and patient when helping me out. :))
HappyCostumer
Our family had written our insurance with the Stanley agency and were very pleased with the level of service and knowledge of the staff. We have young drivers and the agency is able to keep us even with a very high Nationwide premium. I have had other agents of other companies who would know very less as compared to the staff of David. But there are things which no one can know in advance and has to wait. This staff is no exception and esps with my questions when I ask only uneasy questions. Because for easy ones I already know the answers. Nationwide quotes and values are always different than what we come up with using Nationwide's own tools so we have to keep guessing and always be ready for surprizes in a negative way. Not the agent's fault.
Atul
I have had this insurance for years and David Stanley & Associates have always been my agent. They go above and beyond to remind, assist, check on everything for you! Joanne Martin has always been my contact, and she is ABSOULTELY WONDERFUL! THANK YOU David Stanley & Associates for putting up with me and my family for all these years!!!!
sgroves
I would like to thank David Stanley & Assoc., Inc. for all that they do for me personally, and for the splendid services they provide to my clients! I recently bundled all of my insurance policies through them and was able to save a substantial amount of money. I also benefit from a number of dicounts provided to all Nationwide customers that helps me save even more money. As a Realtor in the Central Ohio area many of my clients purchasing new homes ulimately need a homeowners policy for their new homes. Clients that have taken advantage of David Stanley & Assoc. services have nothing but good things to say about how knowledgable and helpful his team of Associates are. I wouldn't recommend anyone other than David Stanley & Assoc., Inc to handle your insurance needs!
Anonymous
All too many times people will take the time to complain about a service or product, but not to give credit, where credit is due !! My husband and I have been with David Stanley and Associates for almost 5 years now and couldn't be happier !! We have our Homeowners, Auto, Life and Liability insurance for our business with David Stanley and we are usually the people that have unique circumstances which require additional attention. This was not an issue for our agent Carrie Stanley Davis. From day one she has ALWAYS went above and beyond the call of duty, keeping us informed of the status of our policies when they were first written and just always going that extra mile. Any time I have a question (which is usually quite frequently), she would take as much time as I needed to make sure I had a good understanding of the answer. I have recently added an additional policy, needed copies of existing policies as well as made changes to existing policies, and all my requests have been accomplished expeditiously. I realize that all too often the phase you're family is overused in the business world and not always true, but at David Stanley and Associates, you really do feel like a part of their family, as ALL members of the David Stanley team are a joy to work with.
Shari
Our family had written our insurance with the Stanley agency and were very pleased with the level of service and knowledge of the staff. We had young drivers and Nationwide had the best premium. Along with the great premium came the knowledge of the best coverage to protect ourselves. It is so nice to call someone and not get an automated voice on the other end. The Stanley agency is a great asset to Hilliard. Let's hope they are around for years to come.
kaymay
I am a residential General Contractor and insurance is one of the most important components of my business. There are countless times each year that I need proof of ins or a bond and typically I get what I need the same day. The office staff is knowledgeable, experienced and they really seem to care about their clients. David Stanley & Assoc has had ALL of my policy's, both business and personal, since the beginning and I have no reason to change.
AJRR
For more than 5 years, we have used David Stanley & Associates as our insurance agent for our home, cars and umbrella policies. They have always been friendly to work with and responsive to our needs. While our family has grown by 2 additional drivers, they always look for the best options for us and make recommendations on the best ways for our policies to be written. They have been the intermediary when we've needed to deal directly with Nationwide and have handled the calls and questions, preventing us from spending hours on the phone. I highly recommend David Stanley & Associates for any of your insurance needs. They are a great business in Hilliard and strive to keep the community a top notch place to live and work.
TonyM
I've been a client with David Stanley & Associates for years, and they've always been wonderful to work with! I had my condo broken into a few years ago, and Carrie helped me walk through everything I needed to do. It was great knowing that they were there for me, and went out of their way with little personal touches. We always review my policies to make sure I have the right coverage and what discounts are available to me. It's great to know that I can count on my insurance agency to be there when I need them - and even when I don't!
heath
Working in the non-profit sector, every dollar saved helps support the mission. Thank you to Carrie Stanley-Davis for making sure we have excellent coverage for our Board of Directors and events while saving us money. We compared our policy with other agents, and decided to go with Stanley & Associates due to the savings, coverage and wonderful customer service.
Desthill
David Stanley & Associates agent, Carrie Stanley-Davis was able to help me lower my health insurnace premiums since I am self insured. Not only did I save money, I became active in the Ohio Farm Bureau. Thank you Carrie for helping me save money and taking time to explain the health insurance benefits!
Desthill
My wife and I have been with the Stanley Agency for 8 years now and we are big fans of them. We love how they are a local agency but connected to a trusted company like Nationwide Insurance. We enjoy working with Carrie, Brandon and David and it is nice to know they know us. We have our car, home, life and a PUL with them and have received great service on all of them.
ToddK