Business Insurance

[Chris1239]

Hello, just wondering roughly how much Business insurance would cost me? (Also what type of insurance should I get)

i
Will be using dropshipping so no stock on site. The business is an online e-commerce store I expect to
Generate less than 10k.

 

[Mr D]

£200 to £3k a year.
At a rough guess. How long is a piece of string?

Your best bet is get some quotes based on what, where, how ....

As to what to get.... it depends.

Product liability
Business interruption
Employers liability
Public liability
Professional indemnity .... to name just a few elements.


Some of those perhaps irrelevant to you.

As in any insurance its worth looking at the risks and figuring out whether you will claim very much. Some people go for the maximum excess as they won't be claiming on small claims.

 

[Greg PW Shearman]

what are your risks ? what's the worst case scenario if you are not insured ? do you have to be insured to enable you to sell ?

if there are no real risks and you have a very small chance of losing a small amount of money why bother ?

 

[Frank the Insurance guy]

Hello, just wondering roughly how much Business insurance would cost me? (Also what type of insurance should I get)

i
Will be using dropshipping so no stock on site. The business is an online e-commerce store I expect to
Generate less than 10k.

Not enough info as much will depend on what you are selling and your acceptance of risk - as mentioned by previous poster, you may not want insurance at all!.

The only Insurance policy you MUST HAVE is Employers Liability - but this won't apply if you work on your own with no help! Everything else is a choice.

Here is a guide to the main types of insurance policies and what they are for.

I suggest you talk to an Insurance broker to discuss your particular circumstances and needs.

Costs can be from £150 to thousands!