Business Insurance Can you insure your online business?

[Jasmine]

If you have a shop, you can insure your shop and get converge against theft or damages. If you have a warehouse, you can insure your warehouse and recover financial loss from burglary or other damages. If you have insured your cargo, you can make up the financial losses in case shipwreck happens. These are some of the popular business insurance policies.

Any business that has physical existence can be insured. How about online business? Can you insure your online business?

Let say I have a dropship store, can I insure my dropship store and get coverage in case I lose my dropship store due to hacking?

Let say my online business is related to selling software. Can I insure my business and get covered against bug attacks from a competitor?

I hope I get the answer.

 

[Phabbyfundz]

Insurance policies were originally intended to cover for almost anything and if you are willing to insure you business be it online or other wise you can actually to that. But this also depends on the insurance company and their policies, what they have stated in their contract and what the company can afford to cover for in times of unfortunate happenings or crises.

 

[sincerem]

I never heard about insurance offering premium for online business. Maybe they do cover up for online business too. But since most of the businesses online operate offline and seek online presence it is still ideal for them to earn benefits when something bad happens to their business in general.

 

[Nite]

It's a good idea if one Insures their online business. You have to use email, social media, and other digital platforms to operate your business online, which leaves you open to potential risks. So, it makes sense to have an insurance that'll protect your business in different situations and can prevent you from paying for claims that are costly

 

[Jamoflondon]

Definitely yes. Be it online or offline, business is business as long as it is a legit one to be proud of. In fact it is very much important to insure an online business because the risk is way more higher than the regular offline ones. So i think one should consider that

 

[Chibson]

I have personally not too happy about any insurance companies that is insurance online businesses. Sometimes they are the delicate information that used to run your online business and the insurance company may not have the right to have such information. I think I will then have to make a research about this.

 

[Mika]

If your oline business has an inventory (you have products stored in your warehouse), you can definitely insure your online business. It does not matter whether you are selling online or offline, what matters is whether your business is legal entity or not or whether you have stockpiled products on your warehouse or not.

 

[Wisdom01]

Yeah you can insure your online business, but it depends on the risk you are actually insuring it against , because you could insure the property only against any form of risk that would want to happen as you are running the business , because you would definitely have an online store for the property

 

[Mandy96]

Of course, online or offline, business is what is called as long as it is legitimate. Insuring it will be a very good idea because they more riskier than the regular ones before the invention of technology. For example, one is liable to easily get scammed on the internet because identity is kind of hard to trace

 

[Chibson]

Of course, online or offline, business is what is called as long as it is legitimate. Insuring it will be a very good idea because they more riskier than the regular ones before the invention of technology. For example, one is liable to easily get scammed on the internet because identity is kind of hard to trace

I am curious to know if someone can ensure his website in case if there is any hack or any unfortunate incident that happens to it. I am eager to know because I have not heard of such a thing before and would like to know if it is really possible.

 

[Alexandoy]

I know that a business can be insured but there are items in the policy that specifies the coverage. First in the list is the bankruptcy that is not covered because the insurance is only for the assets and not a result of the business. The location (office or store) and the stock of products plus the furnishing and equipment can be covered.

 

[Jasmine]

If your oline business has an inventory (you have products stored in your warehouse), you can definitely insure your online business. It does not matter whether you are selling online or offline, what matters is whether your business is legal entity or not or whether you have stockpiled products on your warehouse or not.

What if I am dropshipping? I do not have any products in my warehouse, I am selling third parry products, I do not even have an office as I can easily operate my dropshipping business from my computer. Let say I have registered my business but I do operate virtually. Can I insurance my business in this case?

 

[Abigael]

I really do not know about insurance policies that cover online businesses. Maybe after searching you will find some. But I would like to say that you can insure your business by having an offline store for it. Like if you are selling clothes online, you can have an offline store that specifies that you sell clothes. That way, you can insure the store including what you do online.