E368: Protecting Your Business From Petty Lawsuits and Accidents

Insurance is not a fun topic. Trust me, I hate it as much as the next guy. 

But you know what else is not fun? Having your business go under because of a frivolous lawsuit that has absolutely nothing to do with you or your company.

That is why today, Maggie Walden and I will be talking about one of the best things you can do to protect your business from exhausting (not to mention, expensive) lawsuits and accidents—taking out insurance.

Maggie is a Client Advisor at ECM Solutions, an independent insurance agency that offers a range of coverage options to e-commerce business owners and prepares them for when that fateful day comes.

In this episode, we talk about why an insurance policy is a must-have for serious e-commerce sellers, what different coverage options are available to you, and why insurance carriers won’t be racing to insure certain product types.

Timestamps:

• Amazon’s insurance requirements and why you should comply with them - 05:29
• Things you should be looking at in terms of insurance - 07:24
• What a general liability policy covers and what it does not - 09:31
• Why it’s hard to find insurance for certain certain products or categories - 13:30
• Why I think getting an insurance policy is essential in e-commerce - 15:35
• What an inventory insurance policy is - 23:29
• What a business owner’s policy or BOP is - 26:25

There’s definitely a lot of ground to cover in protecting your business from frivolous litigation and accidents, and Maggie was just the right person to have on the show.

If you want some solid advice about what your exposure looks like and how you can go about taking out an insurance policy over your e-commerce business, be sure to check out ECM Solutions or hit Maggie up on 704-227-3130.

By the way, if you’re looking to stay ahead of the competition and amp up your e-commerce game, EcomCrew Premium opens again on March 8. Don’t miss out!

With Premium, you get access to a bevy of perks, from HD video courses, to exclusive monthly webinars, to 1-on-1 mentorship.

Learned a thing or two from this episode? Let us know, and don’t forget to leave us a review over on iTunes so we can reach more e-commerce sellers looking to grow their business.

Until the next one, happy selling!