What is the name of your state? NJ
Looking into putting out a line of dietary supplements that would be manufactured by a contract manufacturer that does "private label" dietary supplements. Basically that means I would pick some of there existing products, and they would put my label on it. They mentioned that they would list me on their insurance (million dollar product liability).
I looked into getting my own product liability insurance to be safe and received quote in the $15,000 to $25,000 range (yearly) which rally makes the start up costly for the project.
Do I need my own policy? I see all these dietary supplements in convenience stores and I find it hard to believe that they all are paying this much for insurance. I get the impression they are just listed on the contract manufacturers policy.
Again, I am not manufacturing, just distributing under my own product name.
So what is the right move.
Thanks
Looking into putting out a line of dietary supplements that would be manufactured by a contract manufacturer that does "private label" dietary supplements. Basically that means I would pick some of there existing products, and they would put my label on it. They mentioned that they would list me on their insurance (million dollar product liability).
I looked into getting my own product liability insurance to be safe and received quote in the $15,000 to $25,000 range (yearly) which rally makes the start up costly for the project.
Do I need my own policy? I see all these dietary supplements in convenience stores and I find it hard to believe that they all are paying this much for insurance. I get the impression they are just listed on the contract manufacturers policy.
Again, I am not manufacturing, just distributing under my own product name.
So what is the right move.
Thanks