Every business, whether big or small, needs comprehensive product liability insurance coverage to safeguard against any claims made by third parties. Alongside the various challenges of successfully running a business, you also need a compressive product liability insurance policy to safeguard against litigation. The legal fees and PR for damage control in case of an incident can easily run into thousands of dollars. You also have to pay the claimant in case of a negative judgement against you, which can cause financial stress or even bankruptcy.
Here are the several benefits of the financial safety net that a product liability cover provides: