Product liability insurance

Sugar_Coated_Owl

If you make and/or customise products that you then sell online (eBay and website) are you required to have product liability insurance?

WHA

There isn't a legal requirement, but what happens if your product causes injury, damage or death? If you were sued for compensation you could lose your business and maybe even your home/savings/assets if you are a sole trader. If you are merely an intermediary, you could probably pass on the claim to your suppliers, but if you are making/modifying something, the buck stops with you. A contract, disclaimer or sale agreement purporting to limit or deny your liability can be ignored if the terms are unfair (unfair contract terms act). If you don't have product liability insurance, you are effectively "self insured" so you take the risk yourself.

Sugar_Coated_Owl

I'd like to do everything correctly so I guess the answer is yes to PLI.

Thank you for your reply.