Insurance Services of Washington Blog
In this age of technology, many entrepreneurs are starting their businesses online. Although there are millions of ideas and companies out there that are bound to be successful, getting business insurance is still far from their priority list. While there is no specific insurance policy to cater to internet businesses, there are a few business policies that can always protect your company. Here are some of the insurance plans you should consider getting for your business.
Cyber Liability Insurance
Because you mainly operate and interact with clients online, it would be best to consider getting cyber liability insurance. Getting one will help you protect all the critical information stored online in case of a data breach. Having all the information about your company, employees, and customers stolen or leaked will not be suitable for your business as well as your safety.
Getting all this information recovered can cost you a lot of time and money. With cyber liability insurance, you can be protected from ransomware expenses, legal fees, public relations help, business interruption costs, and business interruption costs.
Commercial General Liability Insurance
If you are looking for insurance that has full features, you can choose to get commercial general liability insurance. This policy can help you pay for the costs needed to pay for property damage and injuries that happened on your business’ premises. If the product you are selling proved to be harmful to a customer, they have a right to sue you. The insurance can help you by shouldering the legal fees.
Other online selling platforms such as Amazon will also require you to get commercial general liability insurance. When using these e-commerce mediums, it would be best to look up their requirements to avoid unnecessary costs and complications.
Seller Suspension Insurance
If you are only starting, chances are you are trying your luck by making your products available to online shopping sites eBay and Amazon. These sites prioritize customer satisfaction, so you can get shut down if you receive many complaints about your products. With many sellers getting suspended over unclear reasons, a seller suspension insurance can help you in these times.
The insurance policy will give you coverage for resource provision and financial backing in case of a suspension. It can also help you hire a specialist that will get your account back. If you rely on selling platforms, it would be better to get this kind of business insurance.
Although starting a business on the internet seems like a plausible idea, there are still more risks to it than putting up a physical store. You can navigate through e-commerce better if you are protected by business insurance policies that are appropriate for you.
At Insurance Services of Washington Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (425) 868-1123 or Click Here to request a free quote.