Insurance recommendations for ecommerce company

[John Muir]

Our insurance is due for renewal and the company we were with have been taken over and won't cover us. They say that this is because 95% of our goods are coming from China. All our business is via e-commerce.

Are there any insurance companies that you can recommend for us to look into.

Thanks in advance

 

[DontAsk]

Issues are usually with markets you sell into, e.g., the US, not where you purchase. Are you sure there isn't some misunderstanding?

I use Gallagher and have not had any issues but then I have never needed to try claiming They have never asked where I purchase from. You are, of course, responsible for ensuring that what you import meets all the relevant regulations such as EMC, toy safety, etc, ...

I found comparison websites useless for business insurance. None of them could quote online.

 

[Paul Kelly ICHYB]

95% of our goods are coming from China.

That would probably mean they do not cover most retailers!!

 

[fisicx]

Maybe it depends on what you sell. Socks are probably ok. Children’s toys less so.

It’s also possible many online sellers don’t even have insurance.

 

[MyAccountantOnline]

Our insurance is due for renewal and the company we were with have been taken over and won't cover us. They say that this is because 95% of our goods are coming from China. All our business is via e-commerce.

Are there any insurance companies that you can recommend for us to look into.

Thanks in advance

Dont know if they will be able to help but I use Simply Business and have a few clients who do too they seem very helpful.

 

[DontAsk]

Dont know if they will be able to help but I use Simply Business and have a few clients who do too they seem very helpful.

I used them for house insurance for a rental property, with no problems, but, for business insurance, they were unable to quote on line (probably due to sales to the US) and no one ever contacted me.

 

[Frank the Insurance guy]

Hi @John Muir ,

Best is to speak to an independent Insurance Broker - yes it will cost more, but they will spend time understanding your business so that they can carry out a quotation exercise and confirm the best options for you.

I am coming across your situation more of late - it tends to be where premiums/rates are ridiculously low, and insurers have taken the view to step away from all policyholders as it is not profitable business. You need to be prepared for substantial increase to the premiums you have been used to paying!

Some Insurers will have issues with China imports &/or US sales - an independent broker will be able to source something suitable.

The products you sell are also key - insurers would prefer if you specialise in a particular product range rather than anything and everything.

I'm happy to help - contact details below.

You can also find a local broker here: https://www.biba.org.uk/find-insurance/

 

[John Muir]

Thanks for all your suggestions I have a quote from Gallagher that isn’t too bad so I think I will go with them.

 

[Nudge]

Our insurance is due for renewal and the company we were with have been taken over and won't cover us. They say that this is because 95% of our goods are coming from China. All our business is via e-commerce.

Are there any insurance companies that you can recommend for us to look into.

Thanks in advance

It might be worth exploring insurers who specialise in online retail or international trade—they often have a better understanding of the unique challenges businesses like yours face. A good broker could also be helpful in finding tailored cover that works for your specific needs.

 

[jay allen]

Our insurance is due for renewal and the company we were with have been taken over and won't cover us. They say that this is because 95% of our goods are coming from China. All our business is via e-commerce.

Are there any insurance companies that you can recommend for us to look into.

Thanks in advance

Yes we had the same issue because we sell in USA so had to get some insurance to cover uk and usa. Is it public liability you are looking for?

 

[AlanJ1]

What is it you sell? Category is normally the bigger risk.