Insurance for E-Commerce Business Owners

It’s easy to start your own e-commerce business…maybe even a little too easy. Trading money for goods and services online often comes with little startup cash, no need for forms or legal advice and no legal requirement for insurance.

However, just because you aren’t required to insure your e-commerce business doesn’t mean you shouldn’t. If you want to protect both your business and your personal assets from risks and liabilities, then you should consider some of the many insurance products designed specifically to satisfy the needs of your business.

Liability insurance: Every business owner—no matter his industry, field, service or product—has exposure to liabilities. Whether the liability stems from an individual delivering business property to your home or a client who needs you to complete your service before they can sell their product, there is always a liability present. Commercial general liability policies can cover you from general liabilities, while professional liability policies, such as malpractice insurance or E&O (errors and omissions), can cover the liabilities that stem from having a specialized talent or knowledge that others rely on.

Property insurance: Unless your business is conducted purely in your mind, then your business has property. The computer you use to track sales and do work, the chair you sit in to operate the computer, the desk your computer rests on—all of that is business property. Unless you have business property insurance, these items are not protected by insurance, even if they sit in your home because home insurance does not cover business property unless you have a special endorsement stating that it does. Business property insurance can ensure that you don’t have to pay out of pocket for new equipment or repairs when an insurable incident occurs.

Business interruption insurance: There are many incidents, well beyond your control, that could bring your business to its knees and stop all production. A fire, hurricane, tornado or other act of nature can destroy your property and halt your business in a matter of seconds. Business interruption insurance reimburses you for the income you lose if your business becomes inoperable due to an insurable incident.

You work hard to grow and maintain your e-commerce business, and you deserve respect for doing so. But respecting yourself is even more important than gaining the respect of others. The best way to show the respect you have for your business is to invest in business insurance to cover your risk. This sends a message to your would-be customers that you are serious about what you do, and there’s no better recommendation than that.

Contact us at All About Insurance for your free Dallas Business Insurance quote today!

Also Read: Is your Fort Worth Small Business Prepared for Disaster?