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  1. #1
    purveyor of pearls Senior Pearl-Guide.com Pearl Expert pearlescence's Avatar
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    Default product liability insurance

    (caitlin, was not sure which forum this should go in so please move to another if you think it more suitable...thanks)
    I'm selling more and more to America and a post on anther forum set me wondering about product liability insurance...While I have some cover, litigation is expensive over there and so I wondered what other sellers do and if there are recommendations?

  2. #2
    Pearl Diver Senior Pearl-Guide.com Pearl Expert Mikeyy's Avatar
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    If your insurer doesn't cover your products here you could buy liability insurance here. General aggregate of $2,000,000 and $1M products, $1M Each occurance, $1M Personal injury runs you $666.00. A devil of a price. I know because I just checked.

  3. #3
    purveyor of pearls Senior Pearl-Guide.com Pearl Expert pearlescence's Avatar
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    That is a lot of money Mikeyy. devil indeed. How do small sellers manage? To the smaller sellers here - like me - how do you find such a huge sum each year? The insurance for £5m (about $7m ish) is under £100 and that includes public liability too!

  4. #4
    Natural Pearl Senior Pearl-Guide.com Pearl Expert Nerida's Avatar
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    Wendy, I have product liability here for about that much and it costs me so so much more than that - over $500 per annum. I currently need insurance in the US (thanks, Miketyy!) but to organize it from Australia was quoted at about $6K through my broker here... Mike's price looks cheap to me!

  5. #5
    purveyor of pearls Senior Pearl-Guide.com Pearl Expert pearlescence's Avatar
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    Isn't it fascinating what you find out when you ask around? What with public liability as well...I wonder if there have ever been pearl related claims?

  6. #6
    Pearl Diver Senior Pearl-Guide.com Pearl Expert Mikeyy's Avatar
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    Quote Originally Posted by pearlescence View Post
    Isn't it fascinating what you find out when you ask around? What with public liability as well...I wonder if there have ever been pearl related claims?
    Yeah, I don't know but you might get a kick out of this. The place you can get pearl liability insurance is called PEARL INSURANCE Co. http://pearlinsurance.com/ The guy in the pic looks just like me too. If you squint and cock your head just right......and are drunk.

  7. #7
    Third-graft Pearl Senior Pearl-Guide.com Pearl Expert
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    Why do you need product liability insurance? Is it the law when you sell commercially? To protect you from people who stick a pearl up their nose or the strand breaks and they slip on a pearl ?? lol

  8. #8
    purveyor of pearls Senior Pearl-Guide.com Pearl Expert pearlescence's Avatar
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    Yes katbran. It's not the law, but it is good sense. just like having public liability.
    I've never had a claim yet but there is always a first time and always that cutomer on the horizon

  9. #9
    Pearl Diver Senior Pearl-Guide.com Pearl Expert Mikeyy's Avatar
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    Quote Originally Posted by Katbran View Post
    Why do you need product liability insurance? Is it the law when you sell commercially? To protect you from people who stick a pearl up their nose or the strand breaks and they slip on a pearl ?? lol
    If you are a wholesaler most companies you supply will require you carry product liability insurance. It's pretty common.
    Because pearls are obviously the perfect size to get stuck in your nose.

  10. #10
    purveyor of pearls Senior Pearl-Guide.com Pearl Expert pearlescence's Avatar
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    Presumably retailers too, for the same nostril (and ear) reason?

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