Is liability Insurance Required for an Online Store

[MarcusUK21]

Hi ALL
I wondered if other e-commerce site owners take out any form of liability insurance against their stores? I am soletrader and will sell online gifts and homewares. So everything is online. However I am not selling food or vitamins etc but should I get insurance if a customer buys a product and makes a claim against me for any accident caused through a product purchased. Am I being too cautious?

 

[japancool]

You might be advised to get product liability insurance. I don't know what you sell, but what if some kid swallows one of your gifts, or cuts themselves on your homeware?

 

[InsuranceBroker]

You absolutely need insurance as you will be responsible for the products you sell. Ultimately, you can pass the claim back to the supplier/manufacturer, but there are many circumstances which mean that this may not be possible and results in liability falling fully onto you. You may also want to consider cyber cover along with your public and products liability. Hope this helps.

 

[MarcusUK21]

You absolutely need insurance as you will be responsible for the products you sell. Ultimately, you can pass the claim back to the supplier/manufacturer, but there are many circumstances which mean that this may not be possible and results in liability falling fully onto you. You may also want to consider cyber cover along with your public and products liability. Hope this helps.

Thank you I will do this. I imagine many soletrader who have online stores fail to have this cover. Can anyone recommend a company that offers reasonable insurance cover?

 

[Frank the Insurance guy]

Thank you I will do this. I imagine many soletrader who have online stores fail to have this cover. Can anyone recommend a company that offers reasonable insurance cover?

Hi @MarcusUK21 ,

How big is your business? If low turnover (sub £100K) and confident of sorting out yourself online - try somebody like https://www.simplybusiness.co.uk/insurance/online-retailers/

However, if you need specific advice or support, or are a larger business, I suggest talking to an Independent Insurance Broker, but expect to pay a bit more for the added service and support. I will be happy to have a look for you - if interested send me a PM or contact me using the details below.

 

[HFE Signs]

If you have zero risk then you don't need cover but do you really have zero risk?

 

[InsuranceBroker]

Thank you I will do this. I imagine many soletrader who have online stores fail to have this cover. Can anyone recommend a company that offers reasonable insurance cover?

No worries. Frank has offered some advice and additionally, if you're a smaller business, you can also look at Hiscox website which gives more guidance around liability and who needs it and may also provide cover for you or steer you in the right direction:-

Do I need public liability as a sole trader? | Hiscox UK
https://www.hiscox.co.uk/business-i...y-insurance/faq/do-i-need-pl-as-a-sole-trader

 

[MarcusUK21]

No worries. Frank has offered some advice and additionally, if you're a smaller business, you can also look at Hiscox website which gives more guidance around liability and who needs it and may also provide cover for you or steer you in the right direction:-

Do I need public liability as a sole trader? | Hiscox UK
https://www.hiscox.co.uk/business-i...y-insurance/faq/do-i-need-pl-as-a-sole-trader

Thank you everyone very helpful tips from you which I will follow up.