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Business insurance for online retailer

   
10:48 pm on Apr 17, 2011 (gmt 0)

5+ Year Member



Can you share with me which insurance provider are you using for you business insurance?

I am having trouble finding ecommerce business insurance so your input will be appreciated. Thank you.
4:26 pm on Apr 18, 2011 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



Please clarify: Are you looking for business insurance for your physical location & inventory, or for eShipments via a common courier?
7:02 pm on Apr 18, 2011 (gmt 0)

5+ Year Member



I am looking for business insurance for my physical location & inventory. Thanks.
7:19 pm on Apr 18, 2011 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



I don't know where you can find the insurance in your country - but check the fine print and check that you are also insured against smoke. I had a small fire last year - or better - I nearly had a fire. It was a damaged heater. The smoke detector caught it early before it could develop into a fire. However a lot of the goods where damaged by the smoke - 10k worth of damage. The guy from the insurance came and told me: Sorry there was no fire. You are insured against fire damage but there was no fire only smoke. I thought he was kidding me, but no. No fire, no fire damage, no payment from the fire insurance. If the smoke detector hadn't caught it early and only a little flame had shown I would have had a fire and insurance coverage.
11:47 pm on Apr 18, 2011 (gmt 0)

WebmasterWorld Senior Member 5+ Year Member



You gotta love insurance companies. Seems like now days, taking your payments is about all their good for. 'Claim? What's a claim? Sorry, we don't do claims.'

I would like to see the small print on that, because obviously if there's smoke, then technically there was fire at some point... Even if it wasn't completely visible.
1:59 am on Apr 19, 2011 (gmt 0)

10+ Year Member



5-10 years ago our broker also said that it was difficult to get insurance on our business. Seems that insurance companies did not have much experience with ecommerce so they were unsure how much risk they were taking on. Now it doesn't seem to be an issue. Try talking to a broker and have them shop it with several different companies. Grange and Travelers both write policies in our state.
2:24 am on Apr 19, 2011 (gmt 0)



Hi. I do not know what state (or country) you are in. Insurance coverages vary greatly by state in the US. You should be able to call an independent agent in the US to find a policy. I had no problem finding coverage for my physical location and liability. Runs about $110 per month.
3:28 am on Apr 19, 2011 (gmt 0)

5+ Year Member



Thanks for all the replies so far. I am in Oregon.
8:28 pm on Apr 19, 2011 (gmt 0)



If you have physical inventory and your own warehousing, the fact you sell it over the internet should hardly be a footnote. Loss of business insurance may be slightly more dependent on this, but even then, it shouldn't be of utmost importance.