Is Your E-Commerce Business Protected?

An e-commerce business in Evergreen Park, IL still needs to have the right kinds of insurance in order to stay protected. An agent at Martin Insurance Team can help you find the right insurance for your business.

Liability Insurance: Liability insurance is needed because someone could hurt himself or herself with your product and sue your business. If you think that no one could possibly hurt himself or herself using your product, think again. Liability insurance is useful no matter what type of product you sell. Someone could have an allergic reaction to the material in your clothing or a child could choke on a small piece that isn’t supposed to break off. Even if the legal claim isn’t founded, someone will have to pay for the legal fees.

Property Insurance: Your e-commerce business will have products stored somewhere, so it’s important to protect those products in case something goes wrong. It can cover any loss, theft, or damage to your inventory. It can also cover any equipment that is damaged. If you run your e-commerce business from your home, then note that home insurance won’t cover any items related to your business.

Transit Insurance: This insurance applies if you are shipping products. If you are getting large batches of inventory from distributors or shipping batches to a warehouse, then this protects items in route. When transporting your items there may be contractual protection for distributors, warehouses, or suppliers, but you need to understand what is covered and what isn’t and fill in the gaps.

Data Security: Online businesses need to keep customer data secure, and if a breach were to happen, you could be held liable for each customer’s lost information. Data security insurance can provide coverage for these events.

Business Interruption: This insurance can help if you rely on third-party providers to help with Internet or shipping services. If there is an issue that stops business, then you can recuperate losses.

Contact Martin Insurance Team, serving Evergreen Park, IL, to get a quote on commercial insurance.