Product Liability Insurance

[Wood Butcher]

Swmbo is starting up a home based business and has been told to get product liability insurance. She is hoping to sell soap making ingredients and will be handling soap bases, essential oils etc.

Does anyone have insurance like this and who do you go through? She has been told by one firm over the phone that she is looking at around $3000 because the essential oils are "dangerous goods" and "flammable". Sounds like a load of BS to me.

If you are uncomfortable posting your insurer in public could you send me a PM?

Thanks

[q9]

Any insurance broker should be able to sort that out for you.

The person telling you to get insurance wouldn't be your accountant?

[journeyman Mick]

I go to a broker for all my insurance, they do all the research and shopping around and generally get competitive rates. Don't have product liability but it was an option in a public liability insurance that I held in the past.

Mick

[echnidna]

The VWA covers most crafts,
dunno if it applies in Qld though,
ask Woodborer

[Sebastiaan56]

Any insurance broker should be able to sort that out for you.

I assume the liability insurance is more about the risk of adverse reactions to the products or claims from loss from use of the products. This could be a minefield if she wants to build a global cosmetics empire, or sweet fa for a market stall business. She strictly speaking doesnt need it unless its a condition of a contract, but if she is sued could be helpful to keep a foot in the family home.

Go to at least couple of brokers, insurance is a commodity like finance, shop around. I have in the past used Warburton MacDonald (Sydney) I think they have an office in Brissie, there can be a lot of difference in price for the same product.

[Cliff Rogers]

I have VWA for my craft work.

For my computer work, while we had an electrical business licence that required some weird electrical product liability insurance, AMP were the cheapest by a country mile.