Purchasing a commercial liability insurance for my e commerce bussiness

[Jordan Valley]

Hello

I would like to take out a commercial liability insurance for my e-commerce bussiness where is the best place to get a good insurance for a good price ?

 

[LPB 123]

Hello

I would like to take out a commercial liability insurance for my e-commerce bussiness where is the best place to get a good insurance for a good price ?

What do you sell?

 

[Jordan Valley]

from hardware to body creams, aloe vera, vaping accesories and so on basically anything

 

[WaveJumper]

Speak to @Frank the Insurance guy

 

[LPB 123]

Simply Business is a good starting point but you may need a specialist broker depending on the specific products you're going to sell.

 

[Jordan Valley]

has anyone used simply business and do they give decent prices ?

 

[MOIC]

If your products come from China, 99% of insurance companies will require Rights of Recourse from the China supplier.

You won't get it.

 

[Frank the Insurance guy]

has anyone used simply business and do they give decent prices ?

If you can Tick all their boxes, its one of the cheapest places to get cover online.

from hardware to body creams, aloe vera, vaping accesories and so on basically anything

This is going to be your biggest problem - Insurers want to know what they are insuring. They will avoid companies "that sell anything" as they have no way of understanding the risks and calculating what rates apply. I doubt you will get a quote from Simply Business unless you specialise as an e-retailer in a particular area.

Best bet is to speak to an independent insurance broker, who will take the time to chat things through and understand your business - you will need to be clear on the range of products you sell - they will need a list of categories and aprox turnover split for each category.

As you will need a bespoke policy, expect a bespoke premium!

Happy to have a chat - my contact details below.

EDIT: Just seen your other post relating to "simple electrical childrens toys" - insurance for this will be near on impossible - and if it is available expect the Liability premiums to be well in excess of £5K with minimum requirements for you to batch test for quality control in the UK!

 

[AmazonGeek]

I have a good contact for this. I have been using them for years and they cover my Amazon business across the EU. Public liability is the main thing I am concerned with but I also have a separate cargo policy that covers me in the event of a problem at sea. Let me know if you want an intro.

 

[Jordan Valley]

I have a good contact for this. I have been using them for years and they cover my Amazon business across the EU. Public liability is the main thing I am concerned with but I also have a separate cargo policy that covers me in the event of a problem at sea. Let me know if you want an intro.

Hi thanks very much for your reply I think you are the first person that is actually giving me advice on what to do rather than all the other guys who just explain me all the problems with trying to get the insurance I had another question on a different thread that which maybe you would also be able to advise me with : I was trying to produce my own private label (to sell on amazon) on a certain product from china its an electrical childrens toy and I was wondering how does it work with getting all the Safety certificates to be allowed to sell the item in the U.K

 

[MOIC]

An insurance company may look at many factors, including the following:

1. The person requesting the quote. (business/product/supplier experience)
2. The product itself.
3. The country of manufacture.
4. The factory producing the product.
5. Product certification.
6. Where it's being sold.

As well as a host of other requirements, one of which may be rights of recourse from your supplier. A bona-fide China supplier will never offer that to you, and understand what they're getting involved with.

An insurance company, that you can rely on to pay out in the event of a claim, will have different quotes for different people, as well as the product.

Sometimes, it's not about getting a quote to satisfy requirements, but ensuring you have the adequate cover, should there be problems, especially with an electrical kids product manufactured In China.

There are no short cuts, nor should there be.

 

[AmazonGeek]

Hi thanks very much for your reply I think you are the first person that is actually giving me advice on what to do rather than all the other guys who just explain me all the problems with trying to get the insurance I had another question on a different thread that which maybe you would also be able to advise me with : I was trying to produce my own private label (to sell on amazon) on a certain product from china its an electrical childrens toy and I was wondering how does it work with getting all the Safety certificates to be allowed to sell the item in the U.K

You are welcome. Sorry I've been off the radar. Shot off to the US for a couple of weeks and only got back at the weekend. I will look for the other thread now...