Why Would an Online Operation Need Business Insurance?
As business insurance brokers , we have noticed that a number of our new clients have little in the way of a physical presence. When business owners think about business insurance, they might focus purely on mitigating risk for physical building or inventory. However, insurance is vital to cover other less tangible assets, and we will demonstrate this by taking a look at a typical online store operation. Online Store Risks If you run an online store, it’s unlikely that you have a physical shopfront to worry about and if you did you wouldn’t hesitate to get business insurance. However, the risks to your online store and your clients may be less obvious in an online operation, but they are still there. Let’s take a look at the four primary risks related to an online store that you need to mitigate with insurance. 1. Products If you sell a product that harms a person or in extreme circumstance even causes a fatality, your entire business operation is at risk. This is a