How Much Does Product Liability Insurance Cost?

Table of Contents

products packaged next to a laptop

When looking for manufacturers insurance, one of the biggest questions you may have is, “How much does product liability insurance cost?”

The answer: it varies depending on the business, the product, and the insurance company.

We know this can be frustrating for someone hoping to get a set number with one search on the internet. However, each business is unique and has its own needs. A one-size-fits-all policy would not be beneficial if you end up paying for coverages you don’t need and are missing out on other benefits. Today Insurance Canopy breaks down the costs of manufacturers insurance for you.

shopping cart and products with manufacturers insurance on a pink background.

How Can I Calculate The Cost Of Manufacturers Insurance?

On average, Insurance Canopy policyholders can pay anywhere from $800 up to $1400 annually. Your annual premium is calculated based on a variety of factors, such as:

  • Product type
  • Business size
  • Annual revenue

Pricing at a Glance: 41.2% of Insurance canopy customers pay an average annual price of $1,1147. 28.1% pay an average of $2,298. 18.3% pay an average of $6,219. 12.4% pay an average of $524. More than 50% of Insurance Canopy customers pay less than $1400 for their premium for manufacturers insurance.

When you compare the hundreds of thousands of dollars spent on product liability claims, the cost of product liability insurance just makes sense. Your policy helps to keep you from paying for legal fees, medical bills, and more all on your own. 

Where Can I Get A Fast Quote?

We know time is money, which is why Insurance Canopy’s quick turnaround time gets you a quote within 48–72 business hours. To help us customize your coverage, we will assess your business based on:

  • Details for your business operations and products
  • Your claims history
  • Prefered insurance limits and coverages
  • Gross receipts from your products and services

To start the quote process, you will need to submit an application detailing your business and product(s). Our application for a quote can be completed entirely online in 10 minutes or less—allowing you to get back to focusing on your business. Once your quote has been created, a licensed agent will contact you to discuss your policy.

Meet Requirements for Manufacturers Insurance

Our team has over a decade of product liability experience. We don’t want to just help you meet insurance requirements, we want to see your business succeed. Insurance Canopy has helped businesses expand into high-demand online marketplaces and physical retail locations. When you think of manufacturers insurance, think of Insurance Canopy. We are proud to insure businesses like you.

The search for top-rated manufacturers insurance ends here. Submit an application today—your personalized policy is waiting for you.

Get Covered With

Product Liability Insurance

About the Author

Related Articles

The modern world of business and commerce is full of potential risks. From the products you sell to the services you provide, it's only a matter of time before something…
Picture this: you walk into a grocery store, your senses tingling as…
Starting a small business is an exciting venture, but it requires careful…