A lot of people are turning to online shopping that’s why more entrepreneurs are also leveraging the use of social media to build their online shop presence. However, even if many online businesses are there, owners are still unsure if they should get insurance or have a hard time choosing what type of commercial insurance they need. Literally, a shop made from brick-and-mortar needs insurance to protect its products and equipment from fire or theft. So how about a business that doesn’t have a physical store? 

The demand of e-commerce in the United Kingdom has given small businesses around the country to expand their customer reach beyond their local area.

In fact, the UK has been on the frontline of e-commerce growth, making up one-third of all online sales in Europe in 2015. As we speak of the internet, does an e-commerce business actually have any real threats?

Well, no matter where your business is located (online or physical), all businesses are exposed to risks too. The problem may come from the products, employees, and finances and it is necessary that you get the insurance that will protect your business from potential harm.

 Insurance in E-Commerce:

  1. General Liability Insurance- accidents choose no location, it can happen anywhere, any time, and in different ways. Thus, general liability insurance guarantees protection in any case if your product, services, or employees cause property damage or bodily injury to a third party, you could be sued. 
  1. Product Liability Insurance- this provides protection if ever you sell or supply a defective product and someone injures themselves on the time of using it, or damage is caused as a result of the defect.
  1. Business Interruption Insurance- this insurance is crucial to business continuity because this will be the one to safeguard your income if your business suffers damage at your premises that places you in a condition of being unable to trade. Natural disasters can be one of the reasons why services were interrupted which could leave you out of action for a few weeks or even months. Thus, this insurance means that your income and fixed expenses would be covered as you slowly recover.