Product liability insurance

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Got my first exposure to equity funding from swoop

Feb 21, 2026

Hannah Taylor

Swoop made the entire funding process incredibly straightforward and stress-free. From the outset, the platform was easy to navigate and clearly designed with businesses in mind. The team took the time to understand our needs and presented funding options that were genuinely relevant, rather than a one-size-fits-all approach. What really stood out was the level of support throughout the process. Communication was clear, responsive, and professional at every stage, and we felt well informed from initial enquiry through to completion. The expertise and transparency provided gave us real confidence in the decisions we were making. Overall, Swoop is an excellent solution for businesses looking to explore funding options efficiently and with expert guidance. I would highly recommend them to any business seeking a reliable, knowledgeable, and customer-focused funding partner.

Jan 23, 2026

Michael

A user friendly and intuitive platform that did not make the process onerous. Also Ikrah Ramzan, the Asset Finance Funding Manager was helpful, engaging, and supportive through the process.

Jan 20, 2026

Paul Brogan

Great service nice people pleasure to work with, highly recommend them

Jan 16, 2026

Peps Cafe

Very good customer service 👏

Dec 13, 2025

Rachel Martin

Working with the team at Swoop Finance has been genuinely brilliant, both as a partner and as an accountant, recommending them to clients. Their platform makes the funding process feel clear and accessible, and their team really take the time to understand each business before suggesting options. I’ve referred several clients through Swoop this year - from start-ups to established companies and each one has come back saying how seamless and supportive the experience was. From my side, collaborating with Swoop has been effortless. They genuinely care about helping business owners grow sustainably, and their communication and professionalism make them a standout partner in the finance space. Great for accountants looking to add value to their clients and for business owners looking to explore funding with confidence.

Dec 12, 2025

Taz Allinson

Working with Swoop has been brilliant. They’ve been a great brand to collaborate with behind the scenes, and our clients are already feeding back positive results after using Swoop to access funding for their businesses. Highly recommend!

Dec 9, 2025

Frank Coelho

Fantastic tool for business owners. It simplifies the funding landscape and brings everything into one dashboard. I was able to see my options quickly without the usual hassle. Very impressed with the service.

Dec 5, 2025

BuildBright Contractors

We recently worked with Swoop Funding to help finance our new van purchases, and the experience was outstanding from start to finish. The process was smooth, transparent, and far easier than we ever expected. A special shout-out goes to Ikrah, who was absolutely fantastic throughout. She was proactive, knowledgeable, and incredibly supportive—always quick to respond, always clear in her explanations, and genuinely committed to finding the best possible solution for us. Her professionalism and friendly approach made the entire journey not just stress-free, but genuinely enjoyable. Thanks to Swoop—and especially Ikrah—we were able to secure the right funding quickly and confidently. We couldn’t be happier with the service and highly recommend them to anyone looking for business finance done right.

Nov 18, 2025

Claudia Mirabela Costea

A bit late with my feedback but I want to recognise how supportive swoop has been with assisting me to find the best funding for my tiny business.In a world full of possibilities it is rare to find people to help you explore the right paths for your needs.I want to also recognise Daniel M. On this ocassion as he was very professional and prompt to get involved and emailed me all the resources I needed

Oct 19, 2025

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Page written by Chris Godfrey. Last reviewed on May 22, 2025. Next review due October 1, 2027.

No manufacturing process is perfect. Every business that designs, makes, or distributes parts, components, or finished goods runs the risk that the products they supply could harm someone or damage someone’s property. These injuries or damages could happen through no deliberate fault of your own, but a simple manufacturing flaw or workshop error could still make you and your business liable for compensation claims that measure in the tens or hundreds of thousands of pounds.

Fortunately, product liability insurance can protect your business from potentially catastrophic costs should the products you provide create a problem for your customers. Read on to find out more.

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What is product liability insurance?

Product liability insurance (PLI) – also known as ‘product insurance’ – is a business insurance designed to protect companies, partnerships, sole traders and the self-employed from financial loss in the event that someone is harmed, or property is damaged due to the products that they supply.

Important tip: Product liability insurance isn’t only for manufacturers. In the event of an accident, your business could be held liable even if you only distributed or repaired the product.

What's the difference between product liability and public liability insurance?

Public liability insurance covers your business for claims for personal injury or property damage arising from the services your organisation provides. Product liability insurance protects you from injury or property damage claims caused by any faulty products that your business has designed or supplied.

Who needs product liability insurance?

Suitable for SMEs, sole traders and the self-employed, product liability insurance is a must for any business that designs, manufactures or distributes:

Parts for finished goods
Components for finished goods
Finished goods
Packaging for all of the above

Your business could also be held liable even if you out-source your manufacturing and only put your name on the finished product, or you have repaired or refurbished a faulty product that caused injury or property damage. You may also be at risk if you import products from outside the European Union, cannot identify the original manufacturer, or they have gone bust leaving your business as the last man standing.

Why do I need product liability insurance? What could go wrong?

It doesn’t take much to cause an accident. Even the smallest part or finished product has the potential to cause physical harm or property damage if it is faulty, fitted incorrectly, or wrongly supplied for purpose. For example – a manufacturer produces electrical components used in consumer hair dryers. A minor error in a wiring connector causes a short circuit that creates an electrical fire. The part is only worth a few pennies, but the compensation claims from the user who was burned could easily cost tens of thousands of pounds. Could your business survive such an issue?

Is product liability insurance required by law?

No. Only employers’ liability insurance is legally required. Other business insurances are optional, although some clients and distributors may require your organisation to have product liability insurance in place before they will trade with you.

How much product liability insurance do I need?

There is no real limit to the property damage or level of injury that faulty products can cause. As such, US providers of parts, components and finished goods will typically insure themselves for $1million to $10million depending on the size of their business and the type of products they supply.

What does product liability insurance cover?

Product liability insurance protects against claims for:

Personal injuries caused by faulty or wrongly supplied product(s)
Loss of or damage to property caused by faulty or wrongly supplied product(s)
Unforeseeable circumstances such as product faults that quality control systems could not reasonably identify or foresee

PL may not cover against:

Personal injury or property damage from faulty products caused by poor workmanship or negligence
Financial losses suffered by a person or business caused by your faulty product

How much does product liability insurance cost?

On average small businesses pay around $42 per month, but costs will depend on your business type and the risks attached to what you sell, making every quote unique.

How Swoop can help

All business involves risk, but that doesn’t mean you have to suffer the consequences if things go wrong. Don’t let a faulty product put your business in a spin. Contact Swoop today to compare top-quality product liability cover from different providers and to discuss all your business insurance needs.

Written by

Chris Godfrey

Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.

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At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple – to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.

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