No federal or state laws mandate online vendors to purchase commercial insurance. However, this doesn’t imply that entrepreneurs in Omaha, NE should disregard insurance completely. Some platforms, like Amazon, necessitate the purchase of certain types of insurance coverage. Other forms of coverage may be crucial to safeguard your business from devastation in the event of an unexpected disaster.

What Types of Commercial Insurance Do You Need to Sell Items Online?

Amazon mandates that vendors procure a general liability insurance policy. This coverage protects you from lawsuits if someone gets injured while dropping off or picking up products from your home or warehouse. It also covers legal expenses if a competitor accuses you of slander or copyright infringement. Moreover, most general liability insurance policies include property damage coverage, which is vital for any vendor selling physical products. With property damage coverage, you’ll receive compensation for legal, settlement, and judgment costs if someone alleges your products injured them and sues you for damages.

It’s also advisable to purchase business property insurance, even if you operate your business from home. Home insurance doesn’t cover damage to business assets and products. This implies you could lose a significant amount of money in the event of theft or a natural disaster. Cybersecurity coverage is another policy that could help you avoid substantial loss, as it provides compensation for a hack or data breach.

Commercial Insurance Options from Ed Thompson Insurance Agency

The Ed Thompson Insurance Agency specializes in assisting Omaha, NE business owners in finding excellent insurance options at a competitive price. Contact us to learn more or to get a policy quote.