E-Commerce Business Insurance That Meets Your Needs
Running an e-commerce business isn’t just hard work; it means you face unique risks daily. With e-commerce business insurance, you can help protect your company and give it the best chance at success.
What Type of Insurance Does an Online Retailer Need?
Online retailers face risks that other businesses may not have to deal with. From data breaches and stolen inventory to damaged products in transit, getting the right type of business insurance is key to the success of your online retail business. Some common types of insurance that can help online businesses include:
- General Liability Insurance: Protects against claims of bodily injury or property damage to others.
- Commercial Auto Insurance: Covers vehicles used for business purposes.
- Workers’ Compensation Insurance: Provides benefits for employees who suffer work-related injuries or illnesses.
- Commercial Property Insurance: Protects the physical assets of your business, including buildings and equipment.
E-commerce business insurance can help protect your company from claims such as:
- Bodily injury
- Property damage
- Loss of personally identifiable information
When it comes to getting the best e-commerce insurance, it’s important that you partner with an experienced insurance company and get the coverage your business needs.
Who Needs E-Commerce Business Insurance?
- Stores that sell products online
- Virtual marketplaces
- Brick-and-mortar stores with an online presence
Business Owner’s Policy for E-Commerce Businesses
Many businesses start with a Business Owner’s Policy (BOP) for their e-commerce business insurance. It combines three types of insurance coverage that business owners need:
- General Liability Insurance: Helps cover claims that your e-commerce business caused bodily injury or property damage to someone else.
- Commercial Property Insurance: Protects your online business’ owned or rented building, tools, and equipment. This can include your:
- Computers
- Inventory
- Warehouses
- Business Income Insurance: Helps replace lost income if you can’t operate because of covered property damage.
Covering Your E-Commerce Business Operations
With an online presence, your business faces unique risks that can impact your operations. E-commerce business insurance helps protect your business if the unexpected happens.
Damaged Property
General liability insurance can help cover costs related to claims that your business caused property damage or injury to others.
Stolen Information
Data breach insurance can help your e-commerce business respond to breaches if personally identifiable information (PII) gets lost or stolen. It can help cover your costs to notify impacted customers and offer credit monitoring services. Some insurance companies call this cyber liability insurance.
Protecting Your E-Commerce Business Property
We know expensive equipment and inventory are part of running a successful e-commerce business. Lost or damaged property can make it hard to operate. So, it’s important to have e-commerce business insurance to protect it.
Car Accident
Commercial auto insurance can help protect your employees on the road if they drive company-owned vehicles for business.
Damaged Goods
Transit business income insurance helps cover losses due to an interruption because of damage to property in transit.
Taking Care of Your E-Commerce Team
Your employees play a key role in your e-commerce business’ success. They help run your online business and manage your inventory. If they get hurt or sick from their job, they could miss work while recovering. With the right type of e-commerce insurance, you can help them return to work.
Broken Foot
Workers’ compensation insurance gives your employees benefits to help them recover from a work-related injury or illness.
Customer Lawsuit
General liability insurance can help cover another person’s medical bills if they get hurt at your business.
Get the Best E-Commerce Insurance for Your Business
We know not every e-commerce business is the same. Our specialists are here to help you get the coverage that meets your risk management needs. Whether you have questions about insurance for e-commerce businesses or need help with a claim, we’ve got your back.
