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What Insurance Cover Do You Need for eCommerce?



What Insurance Cover Do You Need for eCommerce?

Selling online is a popular business choice, but it doesn’t mean that you don’t need to think about getting insurance. Even though you might not be dealing with customers in person when you are running an eCommerce store, you have the same responsibilities as a bricks-and-mortar retail store. If you are selling products only online, you don’t have full control over what happens to your business, so it’s more important than ever to ensure that your company and your reputation are protected. Here are some of the main types of insurance you’ll need for eCommerce.

General Liability Insurance

Even if customers aren’t visiting you, you are inevitably going to come into contact with other people at some point. Maybe you accidentally spill a drink over a client’s laptop, or a delivery person trips over when they come to collect parcels from your warehouse. Suppose you have pop-up shops or take part in trade shows. In that case, it’s essential to consider any risks that you might pose to the general public and their property and have the right insurance in place to cover you. Finally, suppose you wonder how much general liability insurance is for your eCommerce company. In that case, you can find out more from The Hartford. Get a quote to find out more about how much is general liability insurance to fit your needs.

Product Liability Insurance

Even if you don’t personally make the products you are selling online, you will still be liable if something goes wrong. For example, if you’re selling food products that turn out to have allergens in them that you didn’t know about, or if you’re selling kids’ toys that turn out to be a higher risk to safety than you first thought, then you are going to be the first point of call for the customer rather than the manufacturer. So while anybody running an eCommerce business should take steps to protect themselves by testing products and ensuring that this doesn’t happen, there is always the risk. Because of this, you should have product liability insurance to cover any legal costs and compensation you may be liable for in this event.

Property Insurance

If you sell products online, you probably have them stored somewhere safely ready to send to customers – but if something goes wrong with the property you use for storage, this could cost your business a considerable amount. Property insurance covers any theft, loss, or damage to the business property and any inventory stored in it, which can save you from making a massive loss if anything were to happen to your warehouse or storage unit. Also, find a policy that covers the cost of any equipment that might be lost or damaged, and make sure that it covers natural disasters. This way, if the worst happens, you can pick back up again, faster and easier.

Despite being run solely online, it’s essential to ensure that your eCommerce business has the right kinds of insurance cover.