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Important insurance coverage for online businesses



Insurance is low on the priority list for many online businesses – and this can be a mistake. The truth is that online businesses face unique threats that can lead to loss of revenue or loss of the business itself. If you own an online business, it is a good idea to buy insurance to protect against common risks.

What threats do Internet companies face?

Online businesses risk losing related to a variety of factors, including:

  • Loss of Internet connection due to weather, fire or vandalism
  • Hackers and cyber theft
  • Computer viruses
  • Confidentiality of customer information
  • Crime against copyright
  • Violation of accusations of contract
  • Product liability
  • Suspension from an e-commerce platform

What types of insurance does an online business need?

The type of insurance your online business needs may depend on the size of your business and whether you have employees. Recommended coverage for an Internet business may include:

  • Cyber ​​Liability Insurance: This coverage may protect your business in the event of data breach, whether the information is stolen or leaked. Many liability insurances cover business interruptions, computer recovery, ransomware costs, public relations and legal fees related to data breaches.
  • General Liability Insurance: This insurance helps protect your business from third party liability for property damage or personal injury to your business premises and from liability for damage caused by any product that your company sells. Amazon and other e-commerce platforms require companies that sell through them to have general commercial coverage.
  • Seller Suspension Insurance: If your online business operates by selling through an e-platform such as Amazon, you are probably aware that your account may be terminated at any time, at the platform's discretion. Even if you appeal the suspension and win, your business can be stopped for weeks or even months and cause a significant loss of revenue. Merchant insurance can help cover your losses and costs to get your account restored.
  • Repayment insurance: This cover is specially designed for dealers who pay mainly by credit or debit card. It protects your business from loss in case of charges with stolen cards or forged card numbers.
  • Employee compensation: If you have employees, you need an employee's compensation policy at work-related accident or illness. Workers' compensation will cover an injured worker's medical expenses and lost wages from time outside work. It also helps protect your business from lawsuits filed by employees.
  • Liability insurance: We live in a dispute company. Employees sue employers in large numbers in the United States with allegations of discrimination, harassment, wrongful dismissal and other methods of employment. If your online business has employees, you should consider purchasing liability insurance to protect your business from these claims.

Every online store is unique. Our experienced agent will be happy to advise you on the types of business insurance you should buy based on the risks you face. We can also help you get the coverage your business needs at the best available prices.


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