Product Guarantee Insurance

So what do you do if a product that you have supplied fails to perform its function? 

Many businesses automatically think of their Product Liability insurance. However, Product Liability insurance covers third-party property damage and/or injury claims. It specifically excludes cover relating to the costs of recalling, repairing, replacing faulty products. Furthermore, consequential losses which stem from the supply of faulty products are also excluded. 

Product Guarantee Insurance provides additional business protection. Typical covers include the costs of replacing, reworking or recovering products accepted by a customer that subsequently fail to perform their intended function. This may be to due a number of issues, including: