Product Liability

Product liability insurance, which can cover products you may manufacture or sell, or your services if you are, say, a mechanic or house painter. In today's world, a minimum of $1 million is recommended coverage for businesses dealing with the general public.

It's also a good idea to have the name of your business added to your suppliers' insurance riders as an "additional named" insured. This adds another explicit layer of protection should a product liability suit arise, generally costs nothing, and has become common practice for companies in food retailing, wholesaling, marketing, and manufacturing.