I work with hundreds of different types of manufactures and distributors, but custom motorcycle manufacturers really stand out in the crowd. As a whole, this group is like the motorcycles they design and manufacture: unique and independent.
I give quotes and place many Product Liability policies for custom motorcycle manufactures. When compared to similar-sized businesses in different industries, they’re more likely to roll the dice by not carrying Product Liability Insurance.
This is why this article about a bike manufacturer being sued in New York attracted my attention. Custom motorcycle manufactures should take notice of the facts of this product liability case. It shows just how quickly a Product Liability Claim can be made. Below are key elements in this particular case:
I understand that economics sometimes dictate whether someone can afford insurance. However, Product Liability Insurance is a must if the failure of your product can result in loss of life or serious injury.
Maybe custom motorcycle manufactures rationalize that people who aren’t willing to take a risk shouldn’t buy a motorcycle. However, I think that most riders accept responsibility for risking their own lives (e.g. driving too fast or not wearing helmets). But they will quickly sue when they believe your product was responsible for putting them at unexpected or unintended risk.
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