Get business insurance
This lesson is a guide published on sba.gov.
Read the guideWhat you'll get
The SBA's business insurance section lists six common kinds of coverage and says product liability insurance is for businesses that make, wholesale, distribute or retail a product, covering financial loss when a defective product injures someone; it also tells you to assess your risks, find a licensed agent and compare offers from several. North Carolina's product liability law, Chapter 99B of the General Statutes, allows no strict liability in tort for product claims but does allow claims for breach of warranty, so ask an agent what a policy would cost before you sell in volume.
Do this week
Describe your product, your expected first-year sales and the stores you plan to sell through, and ask two licensed insurance agents to quote product liability coverage.