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Product Guarantee Insurance

  • 1. Product Overview
    Insurance that covers losses caused by defects and defects in the product, such as the cost of repairing and replacing the product itself.
  • 2. Who needs this Insurance
    Distribution, Automotive, Industrial Instruments, Engineering, Heavy Industry companies
  • 3. Main Covered Damages

    Insurance that covers damages caused by defective goods or products themselves, and covers the following damages:

    - Claims relating to the Repair, Removal, and Treatment of defective products

    - Replacement costs (compensation is made at the cost level, excluding sales margins)


    * Scope of defective goods or products
    this scope includes Failure to perform the performance as intended for the purposes of this insurance policy and is also a defective product.

  • 4. Main not Covered Damages

    - Personal Indemnity

    - Indemnification for property other than insured products

    - Indemnification liability, whether directly or indirectly, arising from any of the following causes:

    - War, invasion, hostilities, civil wars, rebellions, revolutions, rebellions, military or deprivation of power, strikes, riots, or civil disturbances

    - Liability for indemnification due to inability to use, loss of profit

    - Recall-Related Damages

    - Liability for errors or deficiencies in design, formula, plan, specifications, advertising material or printed instructions.

    - Contractual Aggravated Liability
    However, this provision does not apply to the warranty of fitness or quality of the collateral product.

    - Fines, penalties, punitive damages

    - Damage caused by nuclear fuel, nuclear waste, radioactive toxic substances, etc.