Product Liability Insurance Cost

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Product liability insurance cost. However in most cases the minimum cost of product liability insurance is about 2 500 per year. Product liability insurance cost in australia. Quick easy and specific. For riskier products like medical devices the costs likely won t fall below 7 000 per year.
The average cost of product liability insurance for products in a low risk category is about 0 25 per each 100 in revenue. Product liability insurance costs. 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 cost of your product liability cover depends on your unique circumstances.
Product liability insurance costs. Drug companies and other businesses that manufacture medical and pharmaceutical products tend to be in the high risk bracket and will pay considerably more for liability coverage. Any business that manufacturers designs alters or sells products should purchase product liability insurance. The average cost of product liability insurance is 25 cents per 100 in sales revenue.
Product liability insurance covers the cost of defending claims of personal injury or property damage that are caused by defective products. What is your trade. The insurer will work out a quote based on how likely they think they. Find the best deal for your business compare the cost of product liability insurance in 7 minutes.