What Kind of Commercial Insurance Does My E-Commerce Business Need?

Many e-commerce businesses in Selden, NY aren’t sure about the type of insurance they need. Brick-and-mortar businesses need coverage to protect products, but what do e-commerce business need? There are some guidelines, but an agent at XL Brokerage Inc. can help you determine the coverage for your exact type of business.

General Liability Insurance: Even an e-commerce business can have accidents. If any of your products, services, or employees cause property damage or bodily injury, you could be sued. Having a general liability policy will help protect you.

Product Liability Insurance: If your e-commerce business has products, this insurance will protect you if your products cause harm. This is important if your products are expensive to produce or could cause harm if they malfunction.

Professional Liability: This is useful for e-commerce businesses that sell services, and this type of policy can protect you from a lawsuit that stems from how you perform these services.

Workers Compensation: Even an online business can have employees and, if you have even just one employee, you need workers compensation insurance, since it’s required by law in Selden, NY. This insurance will help provide payments and wages for those employees that are injured on the job.

Commercial Auto: If your e-commerce company has vehicles, such as delivery trucks that are used for business purchases, then this policy will protect these vehicles if there is an accident, damage, or theft. If employees drive their own cars for work, then you should consider a non-owned auto liability insurance policy, which will protect your business assets in the event that they are in an accident. It also covers damage or theft when the vehicles are being used for business. This is even more important if your employees don’t have adequate insurance coverage personally.

Contact XL Brokerage Inc. to get a quote on commercial insurance.

 

What You Should Know about Landlord Insurance and Allowing Pets

Allowing pets into your rental property in Selden NY can offer some benefits. Almost half of renters own pets, so when you allow pets you can have a larger group of tenants to choose from. Pet owners tend to make more money and stay in a rental longer. Tenants that have pets can also be more responsible, since they demonstrate they can care for an animal and they are usually happier. However, there are some things you should know about your insurance if you choose to allow pets into your rentals.

Check with your agent at XL Brokerage Inc. about your liability risk for your insurance. It’s important to know the amount of liability coverage the policy includes. There may be limitations or exclusions to coverage, and there could be some dog breeds that are considered to be dangerous. In court, if a tenant’s dog injuries a person, courts will hold the landlord liable. This is the case if he or she knew the dog was dangerous and could have had the dog removed. It also applies if the landlord could have kept the dog and cared for it, or had some control over the dog.

Include your pet policy in your lease, so tenants clearly understand the lease and can agree to the terms. You can require your tenants to have renters insurance that will cover your units, and it will cover you in the event of an accident or bite with the pet. You can charge a pet fee to cover the expense in your insurance going up as well. There are some rules about these types of fees, and they can’t be more than a specific amount.

It’s important to note that even if you don’t want to allow pets, landlords must provide reasonable accommodations for service and support animals. It’s necessary to comply with the Fair Housing Act and fees can’t be charged for service animals.

Contact XL Brokerage Inc. serving Selden, NY, to get a quote on landlord insurance.