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The average cost of product liability insurance for products in a low-risk category is about $0.25 per each $100 in revenue. For example, if you sell $500,000 worth of goods each year, your product liability insurance costs would be $1,250 (or 0.0025 * $500,000).
On average, product liability coverage for low-risk categories is $0.25 per each $100 in revenue. So, for example, depending on the type of product you make, if your company earns $500,000 in sales, your product liability could cost about $1,250.
The average cost of product liability insurance for products in a low-risk category is about $0.25 per each $100 in revenue. For example, if you sell $500,000 worth of goods each year, your product liability insurance costs would be $1,250 (or 0.0025 * $500,000).
The industry standard is a minimum of 1 million dollars in coverage but can be anywhere from $500,000 to $5,000,000. ing to HowMuch.Net, the cost for product liability insurance is typically $0.25 per $100 in revenue. So a business that does $500,000 in sales a year may pay around $1,250 in annual premiums.
Product liability insurance helps protect your business from claims that a product you made or sold caused bodily injury or property damage to someone elses belongings. An insurance company may offer this coverage as a standalone policy, but we include it as part of your general liability insurance.
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In short, a good product liability insurance policy will cover you in the case of the following: Injury: For example, a forklift made by your company malfunctions, which results in the injury of a worker. Your policy will pay for legal fees and any settlements related to the claim.
The cost of product liability insurance is usually included in your general liability insurance premium. General liability costs an average of $42 per month. Your cost is based on certain factors, including: Industry and exposures.
The cost of product liability insurance is usually included in your general liability insurance premium. General liability costs an average of $42 per month. Your cost is based on certain factors, including: Industry and exposures.

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