Ecommerce businesses have a different set of needs than traditional brick and mortar businesses, and their insurance policy needs to reflect this. Insurance is not a one-size-fits-all solution, and an agent at Safechoice Insurance Agency serving Rochester, MN can help you determine the best policy for you.
Many businesses in today’s world could benefit from cyber liability and data breach insurance, but for online businesses it’s even more important. Ecommerce businesses usually get a lot of information about their customers in regards to their shopping habits and it’s not just their credit card information. A cyber liability insurance policy will help cover the costs if you do experience a data breach.
Consider different types of business interruption insurance as well. There is a standalone policy that will provide income for a set period of time if your business has to shut down. There is also a policy that is packaged into cyber liability insurance and will help provide income if your computer systems are compromised.
Workers compensation insurance is still necessary if you have employees working for you. Even if they are just answering phones and emails, they could still be at risk for injury and you will have to pay out of pocket for any associated costs.
Ecommerce businesses either sell products or provide services, so there are a number of polices that protect against product and service failure and it’s important to find one to protect your business.
A general liability policy is still important for ecommerce businesses. It goes just beyond if someone slips and falls in your store, because it also protects your products. Any ecommerce business that sells products could be liable to their products causing problems, whether that’s a skin condition from clothes or a small child choking on a small plastic piece. An umbrella policy can also be useful to give extra liability coverage.
Contact Safechoice Insurance Agency serving Rochester, MN to get a quote on commercial insurance.