If you have an e-business, the risks might be slightly different from a brick-and-mortar business, but you still need business insurance. If you are wondering what kind of coverage you need for your e-commerce, you are in the right place because Ledford Agency LLC in Midland, TX is your trusted partner in all business insurance matters.
Here are the coverage options you need for your online-based business:
Cyber liability insurance
This coverage protects your business when there is a data breach. This coverage pays for notification costs, PR, and legal expenses when sued. Cyber liability coverage shouldn’t be confused with insurance for your computers and IT infrastructure. You need commercial property insurance for that.
General liability insurance
This coverage protects your business when sued for property damage, bodily or advertising injury. While this insurance isn’t mandatory, you should never ignore it because it saves your business significant financial losses.
Product liability insurance
If you sell goods, consumers can be harmed by your product. For instance, consumers could suffer from an allergic reaction after consuming your products. You need product liability coverage to cover medical costs and legal charges when faced with such claims.
Professional liability insurance
As an e-business, you could be an accountant, dietician, financial advisor, or IT specialist. If you offer professional advice, you should invest in professional liability insurance to cover you when sued for malpractice, missed deadlines, and incomplete work.
Commercial property insurance
You may not have a physical office, but your business could have invested in computer equipment and other assets. If you sell merchandise online, you probably have delivery vehicles, inventories, and warehouses. Invest in property insurance to cover your assets against damage and losses from fire, theft, natural disasters, and other perils listed in your policy.
Want to invest in business insurance in Midland, TX? Please contact Ledford Agency LLC for a competitive quote.