Online Retail Insurance

Compare online retail business insurance from the leading providers

Ensure your business continues to purchase the most appropriate online retail insurance at the most affordable cost because online stores can be exposed to a number of liability and property damage risks.

 Online retail insurance from a Willis Towers Watson Network Broker

Benchmark product liability insurance for online retailers from the best insurers

Every retailer is different and will need to consider their own circumstances when deciding which online retail insurance to purchase. As a Willis Towers Watson Network Broker, we have access to wide range of insurers which provide product liability insurance for both physical and online stores.

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 Lloyds of London Brand
 MGAM Insurance Brand
 Zurich Insurance Brand

What is online retail insurance?

Online retail insurance is a comprehensive and flexible solution designed to reduce the financial burden of something unexpected occurring, such as a compensation claim of damages, or stock damage at a third-party warehouse.

Not all online stores are the same, therefore its worth considering what are the worst circumstances that could occur. Then purchase adequate business insurance that has been designed to meet your shop's needs.

Whether your retail business is online or on the high street, we can assist you with purchasing broad policy cover at a cost-effective premium that can offer protection in a variety of different circumstances.

 Online retail insurance explained

Which online retail business insurance do we need?

The most commonly purchased policy covers include, product liability, public liability, employers liability, contents insurance, and stock insurance. However, an increasing number of digital stores are also purchasing cyber insurance, and D&O insurance.

Compare online retail insurance for your business with Get Indemnity™ a digital brokerage

Retail insurance for online businesses can start at £365 annually or £30.42 monthly

What can online retail insurance cover and how does it work?

Whether your business is an online clothing store or supplies sporting goods, commercial insurance for online retailers can incorporate a wide range of policy covers to offer financial protection. Below we identify the most commonly purchased, and how the policy cover works.

Contents and Stock

Covers damage to contents and stock arising from insured perils, such as fire, lightning, explosion, accidental damage, storm, flood, escape of water, theft or attempted theft.

Business Interruption

The policy can cover loss of revenue, additional cost of working, and rent receivable, can be incorporated into your online retail insurance, resulting from damage to your insurable property.

Goods in Transit

The policy can reinstate, replace, repair or pay, following damage to your property whilst in or on or being loaded into or onto or unloaded from any motor vehicle owned by or operated under your direct control.

Online retail - Amazon seller insurance

When you sell products online you will be held responsible for any damage or injury resulting from their use, even if you sell via an online marketplace, such as Amazon, Etsy, or Not On The High Street.

It's a misconception that if your online store has not manufactured the goods, your business can't be held liable for a compensation claim from a product sold that results in bodily injury or property damage.

If the product bears the name of your business, or where the manufacturer cannot be traced, you carry a higher exposure to claims. The courts will seek to apportion blame and compensate the claimant.

READ MORE ABOUT AMAZON SELLER INSURANCE

 Amazon retailer insurance

What other e-commerce insurance should our online store consider?

For digital stores that trade online, whether through a marketplace such as Amazon or their own website, there are additional risks that your business should consider protection against. Whether that be insuring your cargo from overseas, protecting the data you hold on your customers, or financial protection for the personal assets of the directors of the business.

Looking for retail insurance for your online business? Talk to one of our brokers about your needs

Alternatively complete our digital onboarding process to obtain your retail insurance quotes

Frequently asked questions

Do we need cyber insurance?

With retailers becoming increasingly reliant on technology, consideration should be given to risks such as security and privacy breaches. What would happen in the event a cyber attack removed your ability to transact online and stole customer information?

Are we required to buy product liability insurance?

Product liability insurance isn’t a legal requirement in the UK. However, you may find you are required to buy the cover as part of your contractual requirements with the manufacture or online marketplace, such as Amazon. We can provide you with the necessary certificates of insurance to meet these obligations.

Do we need public liability insurance?

If you don't have a physical store, you could argue you have a very limited exposure to incidents such as slips, trips, and falls, which are the most common type of claim. However, if one of your employees visits another office or workplace, the business could be exposed to bodily injury or property damage claims resulting from their actions.

Can you provide retailers insurance to startups?

Of course. We just require some details concerning the products you plan to supply, where you plan to distribute to, where you sourced your products from, and your projected turnover to obtain quotes from insurers.

Can you provide cover if we supply our goods to the USA?

The US and Canada are perceived a higher risk to insurers given the litigious nature of their legal systems. If someone suffers an injury as a result of a product fault, the awards made by the courts can be high. We can identify insurers able to provide cover, however it will impact the cost of your retail insurance.

Can you provide cover if our goods are manufactured in China?

When importing your goods from the Far East, including China, your risk to compensation claims increases. If there is a fault with the product, it can be very difficult for your insurer to subrogate and recover costs and expenses against company's operating in the Far East.

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