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.