Sporting Goods Product Liability Insurance

Product Liability for Sporting Goods

You will certainly need Sporting Goods Product Liability Insurance if you are manufacturing, distributing, or importing sporting goods. The sports market in the US is a $70 Billion dollar a year industry, each and every year thousands of new sporting goods come to market, some of which pose a hazard. Therefore, It can often be challenging for retailers & manufacturers of sporting goods to find product liability coverage for the sporting goods they invent, manufacture, distribute, import, or service.

Below is an example of some of the sporting goods product liability insurance classes we can provide coverage for. We can insure the following, and more, for both recreational and professional use:

Is Sporting Goods Product Liability Insurance is Difficult to Obtain?

Not for us. As you well know, these type of equipment are subject to heavy use, many of which involve contact sports and protective gear. In either case, your sporting goods have the potential to be involved in claims that involve serious bodily injuries and generate expensive lawsuits. That’s why some insurers shy away from these types of risks. Again, our Individual Risk team has the knowledge and experience to help protect our clients who design, manufacture, distribute, and import sporting goods from product liability claims, suits and losses.

Placing your Sporting Goods Product Liability Insurance through us offers you benefit options such as:

• Product Liability Coverage for discontinued products or prior acts.
• Liability Insurance Coverage for new and start-up businesses.
• Product Liability Coverage for recreational, amateur and professional sporting goods and equipment.
• Premises Liability for your Manufacturing Facility, Import Operation, Retail Operation.
• Product Liability For Worldwide coverage is available for your Sporting Goods Operation.

Who Should Have Product Liability Insurance?

If you are responsible for the design, manufacture, import, sale or distribution of a component or end user sporting good product. In fact, This applies to any business or individual that manufactures his own product even if the product’s manufacturing is subcontracted out buy another operation, even if the operation is overseas.

How is a Product Liability Insurance Policy Rated?

A Product Liability Insurance Policy is rated on several factors.

• • What is the product you are covering?
  • How many of these products will be distributed into the market?
  • What are they used for and who will be using them?
  • How long are they intended to last?
  • What are they made of?
  • Where are they manufactured?
  • Who is manufacturing your product?
  • How clearly defined are the usage instructions, directions and guarantees and or warranted that are provided with the product?
  • What claims does the manufacturer or distributor make about the product, either in writing, demonstration or in media?

What average cost cost for Sporting Goods Product Liability Insurance?

Great question, but that is like asking the average cost for a sporting good. Likewise, product liability insurance costs for sporting goods are much like any other liability insurance product. As such, the average cost is immaterial because they are based on the specific type of product you manufacture, retail or market. Also, there clearly are some products that pose very little potential to cause harm, or damage like a badminton birdie, and there are others that have a higher propensity to be risky, and therefore carry higher premiums, like protective headgear.

How Much Product Liability Insurance do I need for my Sporting Goods?

Importantly, the amount of coverage required can vary, important factors to consider when shopping product liability insurance limits are: How much coverage do my vendors require me to have to stock my product? And, what do I stand to lose if our fitness equipment manufacturing company is sued? Furthermore, Because sports injuries can be severe or deadly, you may want to discuss your insurance requirements with vendors or an attorney before making any decisions.

Because every Sporting Good Product is different, underwriting a products liability insurance policy for your sports product can be complicated. If you need a quote on Product Liability Insurance Coverage, please complete a product liability insurance quote request . Castle Rock Capacity Insurance Agency currently offers Product Liability Insurance Policy Coverage in New York, NY, New Jersey, NJ, California, CA, Massachusetts, MA, Florida, FL, Illinois, IL, Connecticut, CT, Texas, TX, Arizona, AZ, Virginia, VA, South Carolina, SC, North Carolina, NC, and Pennsylvania, PA.

Sporting Goods Product Liability Insurance Coverage
Sports Equipment Product Liability Insurance