Product Liability Insurance For Stuffed Toys

Protecting Your Future

I’m not a lawyer, and I’m definitely not an insurance expert.  That is why I interviewed my Product Liability Insurance (PLI) agent so that there was no misinformation, or promises made that I could not keep.  What I’ve come to understand is that it’s generally not the case where this insurance is needed in a worst-case-scenario type of situation (though it does cover them).  The reason could also be as simple as a ‘threat’ of a lawsuit, which can cost you thousands, if not hundreds of thousands, of dollars.

I can list you as an Additional Insured on my policy.  This means that if the product with your name on it, causes bodily harm to anyone (or they claim it did, which is just as costly), my insurance will protect and defend you in case it comes to that.

With my Umbrella Insurance, you will be protected with a $ 3 million dollars aggregate, $2 million dollar occurrence, of Product Liability Insurance.

Hub Insurance - Product Liability Interview

by Binkley Toys Inc. | PLI Interview

You can shop for Product Liability Insurance, but you’ll find that even if you can get an insurance company to give you a quote, the minimum yearly fee will be about $10,000 US – $15,000 US per year (if not more).

Being a Named Insured on my PLI means you get the following; 

  • Benefits Of Product Liability Insurance
  • Satisfies Wal-Mart’s Requirement for Insurance
  • You Receive a Certificate of Insurance
  • Valid for One Year From Purchase
  • $3 Million Dollars in Coverage
  • Defends You In Case Something Happens
  • Defends You From Frivolous Law Suits

Pricing goes by the total quantity of toys you’ve produced (all designs added together).  Pricing is also affected whether you pay per month or per year.


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