Commercial Insurance For Your Ecommerce Store: What It Is And Why You Need It

When it comes to protecting your E-commerce business, insurance can be a tricky topic. However, commercial insurance coverage is an essential way to protect your online business. In the event that you are facing a claim, commercial insurance can be the difference between a minor situation and a total disaster. 

Do I Need Commercial Insurance?  

If you are an eCommerce business owner and have revenue coming in from selling products or providing services, you should think about commercial insurance. Even if you work out of your Frederick, MD home, coverage is essential, because your homeowner’s policy is not likely to cover any business lawsuits. 

What Are The Most Common Types of Ecommerce Insurance 

Wellspring Insurance Network Inc. recommends three basic types of insurance you need to consider for your Ecommerce business: 

Liability Insurance – Liability insurance protects you in the event a third party is injured by your product or service. For example, if a child is injured by a toy you sold their parents online. 

Property Insurance – If you sell products, you need to insure them. Property insurance covers more than inventory, it also provides replacement costs and protection against loss, theft, or damage to your inventory, equipment, and business property – which your Frederick, MD homeowners policy will not cover. 

Transit Insurance – Also called inland marine insurance, when you send or receive large batches inventory through suppliers, warehouses or distributors. this policy protects against loss or damage during the shipping process. 

Smart Business Planning 

There will always be some risks involved in running an E-commerce business, but worrying loss due to lack of insurance coverage shouldn’t be one of them. Working to identify the perfect commercial insurance for your E-commerce business with an informed broker can help you take those worries off your plate. For more information about how to protect your E-commerce business, call Wellspring Insurance Network Inc. today.