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The Best Product Liability Insurance Companies for 2022

Best Product Liability Insurance Providers

Product liability insurance is a key coverage for any company involved in manufacturing, distributing, or selling goods and products. If one of your products fails and causes bodily injury or property damage, you could be sued. Product liability insurance can provide support to protect you from the major legal costs and financial losses that could result from product claims. 

AdvisorSmith looked at a number of online brokers and insurers to determine the top providers of product liability insurance. We reviewed financial strength ratings from AM Best and Standard & Poor’s, available features and options, customer satisfaction survey data, and website ease-of-use. We scored companies out of a total of five points and, while we considered a number of providers, we only included those companies that scored 4.5 or higher.

The Best Product Liability Insurance Companies

RankCompanyAdvisorSmith Rating
1Chubb5.0 / 5.0
2The Hartford4.9 / 5.0
3The Hanover Insurance Group4.7 / 5.0
4RLI4.5 / 5.0
5Great American4.5 / 5.0

*Not all insurance companies provide coverage in all states.

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More on the Best Product Liability Insurers

AdvisorSmith found and rated the top commercial product liability insurance companies on a five-point scale, based on financial strength, customer satisfaction, ease-of-use, and a number of other factors. While many insurers were evaluated, only those with a score of 4.5 or more are listed below.

5.0 / 5.0

Chubb is a large insurance company with an A++ rating from AM Best and an AA rating from Standard & Poor’s, indicating a high level of financial strength. Chubb’s product liability insurance programs are customizable and can be tailored to fit many industries. The insurer offers a coordinated claims process, provides consulting services to reduce the likelihood of incidents, and can help manage long-term exposures such as asbestos.

In addition to product liability coverage, Chubb offers preventative consulting services that can help businesses increase safety and reduce the chance of accidents. Auditing services, best practices development, product safety services, studies, and reviews are available to insureds.

  • An extensive network of agents and brokers
  • Offers a wide variety of commercial insurance policies for numerous industries
  • Superior ratings from most major ratings firms, indicating financial stability
  • Offers discounts for home-based businesses
  • Good customer service
  • Some businesses may find Chubb's coverage options to be too comprehensive (and expensive) for their needs
  • Limited online quoting system
  • No live chat support on the website
  • Not a BBB-accredited company

AdvisorSmith Rating For Chubb

» Learn more from Chubb.

» Read our Chubb Commercial Review.

4.9 / 5.0
  • Flexible, customizable business owner's policy
  • Quick online quote process
  • Clear explanations that define what’s covered and not covered under a plan
  • You can get a quote online, but you have to talk to an agent in order to complete a purchase
  • There are reported Workers Comp and FMLA claims issues
  • The Hartford does not do business in Alaska, Hawaii and New Jersey

The Hartford has been given an A+ rating by both AM Best and Standard & Poor’s. The company offers liability coverage to companies in many industries, including those with a higher level of liability risks, such as manufacturers, wholesalers, distributors, and importers. The Hartford offers risk engineering consulting services that can provide guidance to help reduce risks.

AdvisorSmith Rating For The Hartford 

» Learn more from The Hartford.

» Read The Hartford Commercial Review.

4.7 / 5.0

The Hanover Insurance Group is one of the largest insurance groups in the U.S., with an A rating from both AM Best and Standard & Poor’s. The Hanover offers a variety of commercial insurance products tailored for small and midsize businesses, including product liability, general liability, and business owner’s policies. The Hanover offers its products through a select network of preferred agents and brokers who can also provide guidance and assistance.

» Learn more from The Hanover.


4.5 / 5.0

RLI has a rating of A+ from both AM Best and Standard & Poor’s. RLI is a specialty insurance provider that focuses on property and casualty insurance and surety bonds, including products for underserved markets and niche insurance needs.

RLI’s product liability insurance covers many exposures, including difficult, specialized, or niche risks. The insurer will issue policies within 15 days and offers customized self-insured retention and large deductible programs for product liability policies. Special programs are available for companies dealing with auto parts, cosmetics, and medical equipment.

» Learn more from RLI.

Great American

4.5 / 5.0

Great American received A+ ratings from both AM Best and Standard & Poor’s, indicating a high level of financial stability. Founded in 1872, Great American is a subsidiary of American Financial Group, a Fortune 500 company. 

The insurer provides product liability coverage for many product-focused companies, including manufacturers, distributors, and importers of auto parts, cosmetics, toys, electrical equipment, agricultural equipment, and more. Policies are available on a claims-made or occurrence basis and discontinued products liability coverage is available.

  • Coverage for niche markets
  • Wide variety of policy options
  • Custom-built policies
  • Well-established company
  • Financial stability
    • Lackluster digital experience
    • No online quotes
    • Most policyholders can’t file claims online
    • Premiums may be expensive given the specialized coverage

    AdvisorSmith Rating for Great American

    » Learn more from Great American.

    » Read our Great American Commercial Review.

    Brokers for Product Liability Insurance

    Product liability insurance is commonly included as part of general liability coverage, or it can be purchased on a standalone basis for companies with higher product risks. For small business owners, it can help to work with a trusted broker who understands your industry and the risks of your particular product. Brokers can work to get you quotes from a variety of insurers who provide policies that fit your business’s needs. Below, we’ve highlighted a few of the top brokers that offer product liability insurance.

    Embroker is an online broker offering online quotes, online claims, and 24-hour assistance via chat, email, or phone. A personal account manager can help with insurance needs and assist you in getting the right product liability insurance for your business. Embroker does not require you to provide equity, ownership, or financial statements, making it simple to apply for coverage. Policies can be tailored to individual needs, with the option to choose your own deductibles and limits. 

    Embroker is backed by Munich Re, a financially strong insurer with an A+ rating from AM Best and an AA- rating from Standard & Poor’s.

    Embroker Pros and Cons

    As with any insurance provider, it’s essential to weigh the pros and cons of Embroker:

    • Instant quotes and online buying
    • Industry-specific coverage
    • Expert advisors
    • Real-time claims tracking
    • Low premiums
    • 24/7 customer service

    • Not as long-established as other companies
    • No official ratings available
    • No mobile app

    AdvisorSmith Rating for Embroker

    » Learn more from Embroker.

    » Read our Embroker Commercial Review.

    CoverageSmith is a leading online broker specializing in insurance for small businesses. The company provides a modern, tech-enabled solution for businesses, allowing them to quickly get the insurance they need, completely online, from some of the most trusted insurance carriers in the world, including Chubb, The Hartford, AIG, and CNA.

    » Learn more from CoverageSmith.

    CoverWallet is an online broker backed by Aon, an insurer with an A rating from AM Best. The company provides online quotes, assessments to help you understand what types of insurance your business needs, and online claims processes. CoverWallet also provides information about product liability claims and coverage. 

    CoverWallet uses a customized application and algorithms to help you get the insurance you need without irrelevant questions. The company also provides resources to help businesses understand the risks they may face.

    • You can get free quotes from multiple insurance carriers
    • They offer many coverage options
    • You can create your own convenient bundle package
    • You can use their online tools to pay your premiums, file claims and download a certificate of insurance for free
    • While the platform is owned by AON it is not clear who is offering the policy you are requesting until the end of the application. CoverWallet is not a business insurer itself
    • You may have to call in to complete your application

    AdvisorSmith Rating For CoverWallet 

    » Learn more from CoverWallet.

    » Read our CoverWallet Commercial Review.

    Thimble is backed by Markel Insurance Company, an established insurer known for its focus on small business coverage and strong financial footing, with A ratings from both AM Best and Standard & Poor’s. Thimble is known for offering flexible policies for small business owners that can be purchased by the job, month, or year.

    • Offers flexible policies for small business owners
    • Scalable plan model
    • Fast and efficient quote process

    • May overpay for policies you don’t need

    AdvisorSmith Rating For Thimble

    » Learn more from Thimble.

    » Read our Thimble Commercial Review.

    How much does product liability insurance cost?

    AdvisorSmith found that the average cost of product liability insurance for small businesses was $1,192 per year. This cost survey included small businesses in the manufacturing, retail, and wholesale industries with revenue under $1 million, for general liability coverage of $1 million per occurrence / $2 million per year.

    Pricing does, however, vary depending on a number of factors, including:

    What does product liability insurance cover?

    Product liability insurance is a form of general liability insurance meant to protect your business from financial and legal consequences as a result of bodily injury or property damage due to the use of your business’s sold goods or products. Product liability insurance covers the legal and court costs of defending any claims of bodily injury, property damage, or financial losses caused by your product.

    A few common types of claims that product liability insurance can protect against include:


    In order to determine the best product liability insurance companies, AdvisorSmith assessed several

    In order to determine the best product liability insurance companies, AdvisorSmith assessed several components of the top insurers to ensure you choose the best coverage for your business. Some factors evaluated were the insurer’s financial strength, customer satisfaction, and ease-of-use. AdvisorSmith chose to evaluate factors that would have the highest impact on you selecting product liability coverage for your business.

    Financial Strength

    The financial strength of an insurer is one of the most important factors to consider when selecting product liability insurance. A company’s financial strength can impact the ability to pay claims in the event of a large loss. We evaluated each insurer’s financial standing from A.M. Best and Standard and Poor’s, which are leading providers of ratings and information on the financial stability.

    Customer Satisfaction

    We also evaluated customer satisfaction ratings for each company. We believe that happy customers are a good indicator of the company’s ability to provide excellent service. We utilized the J.D. Power U.S. Business Insurance Study and complaint ratings from the National Association of Insurance Commissioners (NAIC) in order to assess customer satisfaction ratings for each insurer.


    We also took into account how easy it is to access each company’s product liability insurance offerings. We believe that a company that makes it easy for customers to understand and purchase coverage is more likely to provide a good customer experience. Therefore, we evaluated each insurer’s website and user experience. In addition, we assessed the quote process.

    Using our own proprietary scoring algorithm, we weighted the various factors based upon what we believe to be important for small and midsize business owners. Our algorithm outputted a score out of five total points. While we considered a number of insurers, we only included in this article those companies that scored 4.5 or higher.

    The AdvisorSmith rankings are based upon our editorial team’s quantitative and qualitative analysis, and they are intended to serve only as a guide for our readers. We encourage our readers to conduct their own research when selecting an insurer, shop and compare quotes, and make a decision based on their own unique business needs. 

    AdvisorSmith is in no way compensated for any of our reviews.

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