Insurance

[mark one]

About to start selling on line, my site should be ready by Thursday

Question is what insurance do I need, goods will be new.

I guess I need to tell the house insurer.

Its a very small start, I am guessing turnover will be under £1,000 a month at first

 

[alanc]

Yes, you need to tell your house insurer. You may need to shop around for a policy that will cover the stock. Some simply regard the stock as a 'valuable item' - provided its value is stated on the policy, they are ok with it. They will want to know that it isn't dangerous i.e. flammable, etc.

However, none of this covers public liability.

 

[mark one]

Do I need public liability? I will have no callers to the house on business - I do not think - goods are new

 

[alanc]

Do I need public liability?

That's a good question. It probably depends on what you're selling, but every store could do well to take some out. The problem comes when the customer is somehow injured in an accident involving the product. If the lawyers get involved, they will go after everyone they can, and the vendor is first in the line. Realistically, it would be difficult to show that the vendor had been negligent, but that still might involve a hefty amount of defence.

I know some retailers whose insurance forbids them from selling in the USA. I presume this is because of the high levels of litigation that can occur over there.

 

[mark one]

ok add pubic liability to the expense list

thanks

 

[Muhammad Arif]

I think yes you need to have that.
You must public Liability to expense List.

 

[mark one]

Apparently I do not need public liability insurance!

Its product liability insurance I need

Anyone idea where I can get some for electronic goods and how much it might cost. Been on to Swinton and Direct Line, but they say we can't cover you :|

 

[alanc]

You probably need to talk to an insurance broker.

 

[janettehill]

Hi

For all types of insurance a very useful website is hillcompare.com - If you are on the home page and click insurance, scroll down and click life insurance, you can get free advice via email, telephone, or even just get a free quote there and then. The advisors check out the best insurance companies for your requirements.

Hope this is useful to you.

Kind regards
janette

 

[alanc]

Hi

For all types of insurance a very useful website is hillcompare.com - If you are on the home page and click insurance, scroll down and click life insurance, you can get free advice via email, telephone, or even just get a free quote there and then. The advisors check out the best insurance companies for your requirements.

Hope this is useful to you.

Kind regards
janette

Since when does life insurance = liability insurance?

*waits for the mods to take away the sig. link *

 

[janettehill]

Hi Alan

I agree, but I was also saying it provides all types of insurance, and may be worthwhile your viewing it.