The rise of the internet has made operations of online businesses easier than ever. You just set up a website and start selling. In theory, this sounds so easy compared to setting up a physical business that involves payment of rent and other amenities that come with office ownership.
Commercial insurance options for online businesses
While you don’t need a physical location to set up an online business, it doesn’t mean that these businesses are free of risks. Like any other business, online businesses are faced with risks and need commercial insurance. If you don’t know the insurance options for your e-business, Smith Insurance Agency of West Virginia has taken time to guide you on the insurance coverages required.
- General liability: This coverage covers you when accused of property damage, advertising, and bodily injury by third parties. For instance, if you get complaints about the product you sell online, this coverage protects you even when sued.
- Professional liability: Do you offer professional advice online? Things can turn ugly quickly when accused of negligence that results in losses for another business. For instance, assume that you are a website designer. You are to design a website for a customer whose product will be launched in six months. For whatever reason, the website may delay, and the customer can sue you for lost sales due to the missed deadline.
- Property insurance: Yes, you may not have a physical office, but you may have IT infrastructure, inventory, storage facilities, and other assets that support your online business. Commercial property compensates you for damages and losses for your business assets.
- Cyber insurance: This coverage covers you against malicious online activities, including hacking.
- Worker’s comp insurance: If you have employees, you must invest in this insurance to protect your workers against injuries and illnesses.
Need commercial insurance in Kingwood, WV? Look no further than Smith Insurance Agency of West Virginia. We design customized commercial insurance coverages for small businesses to ensure you don’t pay for anything you don’t need.