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Liability Insurance

Product Liability Insurance Policy

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Key Features

Safeguard your organization with product liability protection

Coverage Highlights

This policy safeguards businesses against claims related to products they manufacture or sell

  • Coverage for Legal Liability

Provides coverage for legal liability arising from accidental bodily injury or property damage caused by the insured's products

  • Claimant's Costs and Defense Costs

Covers costs for investigating, defending, or settling Claims, including representation

  • Indemnity Limit

The policy includes a limit of indemnity, which is the maximum amount the insurer will pay for claims, which includes Damages and Defense costs

  • Accidental Bodily Injury and Property Damage

Covers claims arising from accidental bodily injury or property damage caused by the insured's products to a third party

  • Business Operations

The coverage applies to claims arising solely in the course of the insured's business operations

Inclusions

What's covered

  • Legal Liability

Covers legal liability for third-party accidental bodily injury or property damage caused by your products

  • Claimant's and Defense Costs

Includes claimant's costs, fees, and defense expenses

  • Business Operations

Applies to claims arising in the course of your business operations

  • Note

Please read policy wording for detailed explanation..

Key Exclusions

What’s not covered?

  • Defective Product Repair

Excludes repair, reconditioning, modification, or replacement of defective products

  • Product Recall

Excludes the recall of any product or its parts

  • Aircraft Products

Excludes products known to be for aircraft structure, machinery, or control

  • Product Performance Failure

Excludes failure of products to fulfill their intended purpose

  • Product Guarantee

Excludes any product guarantee

  • Assumed Risk

Excludes agreed risk assumptions unless liability exists without the agreement

  • Non-Compliance Accident

Excludes accidents from deliberate, willful, or intentional statutory non-compliance

  • Employment Bodily Injury

Excludes bodily injury to employees or subcontractors during employment

  • Consequential Loss

Excludes consequential losses like profit, opportunity, business interruption, market loss, or goodwill

  • Intellectual Property Infringement

Excludes infringement of plans, copyrights, patents, trade names, trademarks, or registered designs

  • Defamation and Personal Injury

Excludes libel, slander, false arrest, wrongful eviction, wrongful detention, defamation, and resulting mental injury

  • No-Fault Liability

Excludes liability under the Public Liability Insurance Act 1991 or any other no-fault liability law

  • Management Neglect

Excludes claims from management's deliberate, conscious, or intentional neglect to prevent bodily injury or property damage

  • Pre-Insurance Period Claim

Excludes claims made, threatened, or intimated against the Insured before the insurance period

  • Note

Please read policy wording for detailed exclusion list

Benefits You Deserve

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Financial Security

Ensure financial stability with comprehensive coverage

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Safeguard your Brand

Protect brand reputation effectively

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Customisable Policies

Tailored plans for various product categories

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Why Bajaj Allianz Insurance?

Reputation and Reliability

Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE, combining strong local knowledge with global expertise. It has a solid reputation for reliability and trustworthiness in the insurance industry.

Comprehensive Coverage

Offers a wide range of insurance products, including health, motor, travel, home, and commercial insurance, ensuring that all your insurance needs are met under one roof.

Customer-Centric Approach

Known for its customer-first philosophy, Bajaj Allianz provides excellent customer service and support, making the claims process smooth and hassle-free.

Innovative Solutions

Consistently introduces innovative products and services tailored to meet the evolving needs of customers, such as telematics-based motor insurance and unique health insurance plans.

Financial Strength:

Strong financial backing and stability, ensuring that claims are paid promptly and efficiently.

Easy Access

Offers easy access to insurance services through an extensive network of branches, agents, and a user-friendly online platform.

Awards and Recognitions

Has received numerous awards and recognitions for its exceptional services and products, reflecting its commitment to excellence.

  1. By choosing Bajaj Allianz, you can benefit from a comprehensive, reliable, and customer-focused insurance provider that prioritizes your needs and offers peace of mind. If you have any specific questions or need more details about their offerings, feel free to ask!

Download Policy Document

Get instant access to your policy details with a single click.

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Policy Wordings
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Hassle-Free Claims

Quick processing to minimise work disruptions
Assistance

Renewal Options

Easy renewal to ensure uninterrupted coverage
Assistance

Customisable Policies

Tailored plans for businesses of all sizes

Trusted Risk Advisor

Mobile Self Risk Assessment

PRIME Inspection app helps to evaluate quality of your property (Shop, Office, Plant or Others) having SI upto INR 50 crs. It is simple to navigate having multiple Q & A designed for client

Instant Generation of Risk Report

It helps Provide Risk Recommendations, Risk Quality Rating (RQR), Peer Comparison & GAP Analysis for the client

Start Your Journey

Frequently Bought Together

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Group Mediclaim Insurance

  • Secure your Employee's Health & Wellness
  • Hassle Free Cashless Setllements

Group Personal Accident Insurance

  • Secure Peace of Mind for your employees
  • Financial support for employees against accidental injuries, disabilities and death

Marine Open Policy

  • One policy, multiple shipments, zero hassle
  • Ensure seamless transit coverage all year round with one policy—no hassles, no interruptions

Commercial General Liability

  • Shields against liability due to third party bodily injury & property damage
  • Pays defense costs and fees

Step-by-Step Guide

To help you navigate your insurance journey

How to Buy

  • 0

    Visit the Bajaj Allianz General Insurance website

  • 1

    Fill in the lead generation form with accurate details

  • 2

    Get quote, make payment and receive the policy documents

Buy Now

How to Renew

  • 0

    Contact the Policy Issuing Office

  • 1

    Review expiring policy and share necessary details

  • 2

    Receive renewal quote

  • 3

    Make renewal payment

  • 4

    Receive the renewed policy documents via email

Renew Now

How to Claim

  • 0

    Contact us through our customer service touchpoints

  • 1

    Submit the claim form along with the necessary documents

  • 2

    Provide details of the incident and any supporting evidence

  • 3

    Cooperate with the claims investigation process

  • 4

    Receive the claim settlement as per the policy terms

Claim Now

Know More

  • 0

    For any further queries, please reach out to us

  • 1

    Toll Free : For Sales :1800-209-0144

  • 2

    Email ID: bagichelp@bajajallianz.co.in

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All About Product Liability Insurance

  • What is product liability insurance?
  • Coverage under a product liability insurance
  • What are the exclusions of product liability insurance?
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Public Liability Coverage for MSMEs in India

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Why Choose Us

Awards
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Bajaj Allianz General Insurance won IBEX award
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Bajaj Allianz wins Product Innovator of the Year
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Bajaj Allianz earns top honours for customer excel

Bajaj Allianz won best usage of data analytics

What Our Customers Say

Reliable Protection

Bajaj Allianz’s Erection All Risks Insurance gave us complete peace of mind during our project. The coverage was comprehensive, and their support was proactive at every step. 

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Rajesh Mehta

Pune

4.8

15th Mar 2023

Hassle-Free Claims

I was impressed by how quickly Bajaj Allianz processed my claim when we faced an unexpected mishap during the erection phase. 

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Ankita Sharma

Ahmedabad

4.7

10th Aug 2022

Excellent Coverage & Service

With Erection All Risks Insurance, we felt secure knowing that our project was well-protected. The policy covered all major risks, and the Bajaj Allianz team was always available for assistance. 

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Vikram Iyer

Bengaluru

4.9

22nd Jun 2023

FAQ's

What is Product Liability Insurance?
Product Liability Insurance protects businesses from claims related to product defects that cause injury or damage. Whether you manufacture, distribute, or sell products, you could be held legally responsible if something goes wrong

Who needs Product Liability Insurance?
If your business makes, sells, or distributes a product, you need it. This includes manufacturers, retailers, wholesalers, and distributors

What does Product Liability Insurance cover?
Product Liability Insurance typically covers three main areas,Manufacturing Defects: Flaws that occur during the creation of the product, making it dangerous to use, Design Defects: Flaws in the product’s design that make it inherently unsafe,Marketing Defects: Improper labeling, insufficient safety warnings or instructions that can lead to misuse

What are the exclusions under a Product Liability Insurance policy?
Common exclusions include, Intentional wrongdoing or fraud, Contractual liability, Product recalls, Wear and tear or gradual deterioration.

How much does Product Liability Insurance cost?
The cost varies based on factors such as the type of products you sell, your business size, and your claim history. On average, a small business might pay between $400 and $1,200 annually for product liability coverage

What happens if I don’t have Product Liability Insurance?
Without Product Liability Insurance, your business is exposed to significant financial risk. A single lawsuit could result in substantial legal costs and damages, potentially putting your business at risk

How much liability coverage should I purchase?
The amount depends on your business size, industry risks, and contractual obligations. Assess potential lawsuit costs, client expectations, and industry standards. A higher coverage limit protects against costly claims, preventing financial losses.

Can liability insurance cover employees’ mistakes?
Yes, professional liability insurance covers errors employees make while performing work duties. If a client sues over financial loss due to an employee’s mistake, the policy covers legal expenses, settlements, and claims. However, intentional wrongdoing or fraudulent actions are typically excluded from coverage.

Does liability insurance cover cyber-related risks?
Standard liability insurance does not cover cyber risks like data breaches or hacking incidents. Businesses handling sensitive customer data need cyber liability insurance. This policy covers legal fees, customer notification costs, regulatory fines, and recovery expenses.

What’s the difference between occurrence-based & claims-made policies?
Occurrence-based policies cover claims from incidents during the policy period, even if reported later. Claims-made policies cover only claims reported during the policy’s active term.

How is liability insurance different from other business insurances?
Liability insurance specifically covers claims from third parties for injuries, damages, or negligence. Unlike property insurance, which protects assets, or workers’ compensation, which covers employee injuries, liability insurance focuses on legal claims from external individuals or businesses against you.

How do I file a liability insurance claim?
To file a liability insurance claim, notify your insurer immediately, provide details about the incident, gather evidence such as photos or witness statements, and complete the claim form. The insurer will investigate, assess the damages, and determine coverage eligibility before processing the settlement based on policy terms.

Can a liability claim be denied?
Yes, a liability claim can be denied if the policyholder is found not liable, the incident is excluded from coverage, there’s insufficient evidence, or the claim is fraudulent. Reviewing the policy terms and providing accurate documentation can help avoid unnecessary claim rejections.

How does a liability claim affect my insurance premium?
A liability claim may increase your insurance premium, as insurers assess risk based on claim history. Multiple claims or high-value payouts can label you as a higher risk, leading to higher renewal costs.

How long does it take to settle a liability claim?
The time to settle a liability insurance claim varies based on its complexity, documentation, and insurer policies.

What should I do if my claim is denied?
If your liability claim is denied, review the denial letter and policy terms to understand the reason. You can appeal by providing additional evidence.

When should I renew my liability insurance policy?
You should renew your liability insurance before expiration to avoid coverage gaps. Most insurers send renewal notifications a few days before expiration. Reviewing your policy early allows time for adjustments if needed.

How do I check my liability insurance renewal date?
You can check your renewal date on your policy documents, insurer’s website, or mobile app. Insurers usually send renewal reminders via email, SMS, or post. If you’re unsure, contact your insurance provider or agent to confirm

Can I switch insurers while renewing my liability insurance?
Yes, you can switch insurers at renewal if you find a better policy. Compare coverage, premiums, exclusions, and customer service before switching.

What documents are needed for liability insurance renewal?
Insurers typically require your current policy details, claim history, updated business information, and financial records. Some may request risk assessment reports or compliance documents.

Are there discounts available when renewing liability insurance?
Yes, insurers offer discounts for claim-free records, risk management measures, bundling policies, and long-term loyalty. Some also provide reduced rates for businesses with strong safety protocols or low-risk profiles.
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What makes our insurance unique

With Motor On-The-Spot, Health Direct Click, etc we provide fast claim process , Our sales toll free number:1800-209-0144