The Best E-Commerce Business Insurance
If your enterprise sells goods or services wholly or partly online — it’s time to consider e-commerce business insurance.
While your customers might not physically enter your shop, office, or warehouse — they are still exposed to serious risk. And risk means possible costly claims and expensive legal action against your operation.
Furthermore, working exclusively or predominantly through the internet — and at arm’s length from your clients — presents additional threats from cyber criminals, business interruption, fraud, and transport and delivery issues.
PIB’s ecommerce sales insurance provides reassuring safeguarding for your enterprise against losses and claims arising from online trade. Whether you sell online as a hobby, as the main focus of your business, or as an extension of a bricks-and-mortar operation — our online sellers insurance will ensure your business is fully protected.
What Is E-Business Insurance?
Online opportunities have transformed traditional existing retail and service businesses — and created a whole new sector of internet-only product providers.
And, the online buying appetite of consumers seems insatiable. In 2023, over 82 percent of Australians made service and product purchases through the internet — with New South Wales the most prolific state for these electronic acquisitions!
However, while businesses may have successfully expanded and adapted their operations to meet this growing demand — too many operations have failed to consider the liability implications.
Furthermore, insurance providers have been either too slow or too reluctant to adapt standard business insurance cover to meet the new risks. PIB’s online retailer insurance addresses the high claim and loss threat faced by e-trading operations.
A single significant event could devastate your enterprise — or close its virtual doors forever. For example, injury or death of a customer after using your products or services, a failed delivery leading to a hefty compensation claim, or a cyber attack that prevents your business from trading.
PIB creates tailored e-commerce insurance that defends your business against its particular threats — not just delivering priceless peace of mind, but also ensuring your business remains open and viable, for the long term.
Who Is E-Commerce Protection Insurance For?
If your business sells goods or services wholly, predominantly, or partially online — you need the best e-commerce insurance.
For some operations — particularly those whose online retail is a small addition to their conventional bricks-and-mortar trading — insurance providers may adapt their standard business insurance to meet the additional threats of e-commerce.
However, enterprises that have a significant online commercial presence will require bespoke e-commerce cover.
At PIB, our online sales insurance can defend any operation — irrespective of its market sector. That said, our most common clients include:
- Amazon retailers.
- Home/hobby online sellers.
- eBay sellers.
- Tradies.
- Professional service providers.
- Product retailers.
- Online-course businesses.
- Dropshippers.
- Shopify users.
- Wholesalers.
- Importers and exporters.
- Collectible dealers.
- Antique businesses.
- Tech and website developers.
- Streaming platform providers.
What Does the E-Commerce Policy Cover Include?
At PIB, we fully understand that the challenges and threats faced by an individual selling a few collectible items at weekends from their home are vastly different to those of a substantial operation retailing a vast catalogue of products online.
That’s why we tailor our e-commerce cover to the inherent risks of your enterprise — meaning you only pay for the protection you need, not what you don’t.
While not an exhaustive list, PIB’s most popular e-commerce policies include:
Product Liability Insurance for E-commerce
For online retailers who make, repair, design, upgrade, wholesale, or modify physical products for sale electronically — e-commerce liability insurance is perhaps the most valuable insurance protection.
If your faulty goods, damaged products, or repaired items allegedly cause physical injury to a customer, lead to their demise, or incur them to experience financial loss — your business could face substantial compensation demands and/or legal fees.
Our comprehensive e-commerce product liability insurance defends your business against expensive and possible existential threats of hefty claims and solicitor costs.
Public Liability Insurance for E-commerce
If you also have a physical store or office in addition to your online presence, you should consider including public liability insurance in your e-commerce policy.
This valuable cover defends your enterprise should a client, customer, visitor, or supplier suffer injury, loss, or death at your premises — and they, or their representative, subsequently make a claim. You can also combine public and product protection in comprehensive general liability insurance for e-commerce business policies.
Cyber Insurance
Selling online may provide incredible opportunities — but it also brings its own serious threats.
Hacking, ransomware, phishing, and malware can cause immense disruption and loss of your business and customer data. This can mean compensation claims, loss of revenue, fines, legal fees, and reputation damage.
At PIB, our robust cyber insurance safeguards your enterprise — should e-criminals target your operation.
Goods in Transit - E-commerce Shipping Insurance
Should your business transport goods for delivery to customers — or to your own warehouse — you require goods in transit protection as part of your e-commerce policy.
Covering sea, land, and air haulage — where required — the protection can include safeguarding for losses incurred by:
- Failed deliveries.
- Crashed vehicles.
- Theft and vandalism — assuming the goods are responsibly secured.
- Loading and unloading.
- Fire.
- Accidental damage.
Furthermore, we can provide bespoke 3PL (third-party logistics) and drop shipping insurance policies to safeguard against damage or loss of your products — where they are handled, delivered, and or stored by an external provider.
Business Interruption
If a covered event reduces your operating revenues — business interruption insurance can address the shortfall.
Broken IT equipment, cyber-attacks, vandalism, and product recalls — just some common occurrences that could seriously impede your enterprise’s ability to trade successfully online.
Available to cover the costs of payrolls, bills, relocation expenses, and loan payments, having business interruption insurance for e-commerce often means the difference between your business’s continuation — or its closure.
Property and Contents Cover
Although you operate online, you will still work from a building.
Commercial property cover and warehouse insurance — available as part of our e-commerce insurance — protect your premises and contents from a plethora of events, including flood, vandalism, fire, burglary, and accidental damage. Not just defending your bricks and mortar, but also crucial equipment, machinery, and stock.
However, if you’re a home-based operation, be careful.
At the very least, you will have to notify your current residential property insurer that you’re working from home — even if you’re doing nothing more than sitting at a single laptop in your garage, shed, or spare bedroom.
The majority of home insurance policies will not provide sufficient cover to protect your e-commerce business — meaning you need additional protection to safeguard your enterprise interests. PIB can advise you on appropriate protection for your machinery, IT equipment, and stock.
Additional Inclusions in Your E-Commerce Insurance
While not as common as the inclusions above, other protections taken by our e-commerce clients include:
- Commercial motor insurance — for online businesses that have their own vehicles, such as delivery vans.
- Office insurance.
- Professional indemnity insurance — for white-collar service providers selling their expertise electronically.
- Manufacturers insurance — for e-commerce retailers that also design or build products.
- AirBnB insurance.
What Is the E-Commerce Insurance Cost?
At PIB, it’s our mission to deliver affordable e-commerce cover that meets the intrinsic threats of your particular operation — protecting your bottom line. That’s why all our online retail policies are individually tailored — ensuring the most comprehensive safeguarding while ensuring your premiums are cost-effective.
Generally speaking, the cost of your e-commerce retail insurance depends upon:
- Types of products or services sold.
- Sales volume.
- Value of revenue.
- Reach — local, interstate, or international.
- Data and information stored.
- Payment systems and risk of fraud.
- Cyber and IT protection — e.g. staff training, antivirus, and/or encryption.
- Historical claims — both of your business and your e-commerce market.
- Home, office, or warehouse-based operation.
- Value of stock and equipment.
Why Choose PIB for Large and Small Business E Commerce Insurance?
You aim to deliver the pinnacle of excellence when dealing with your online clients and customers — therefore you deserve the best insurance for ecommerce business available, provided by PIB.
A modern insurance broker in Sydney, our knowledgeable team of experienced online insurance advisors will provide your operation with unmatched guidance and protection — ensuring your business can effortlessly navigate the threats of 21st-century trading.
Whether a small home-based operation or a large enterprise with offices and warehouses — our approachable brokerage professionals will tailor ecommerce business insurance that defends your enterprise from claims and losses.
OUR GROUP
With PIB, you’re partnering with a significant force in the risk-protection sector.
Part of Australasia’s largest general insurance broker network — the Steadfast Group — we leverage Steadfast’s substantial scale to ensure you have access to a wide range of insurance companies, a broad scope of products, exclusive policy options, and perhaps most importantly — bottom-line-friendly competitive pricing.
And, should the unexpected happen and you need to make a claim, you will have the powerhouse backing of Steadfast behind you.
Professional Insurance Brokers is a leading specialist in custom, tailored insurance policies for individuals and businesses. Through our subsidiaries, including Unicorn Risk Services, we also have extensive experience in brokering insurance policies for the massive range of community and not-for-profit organisations that operate throughout Australia.
Professional Insurance Brokers (NSW) Pty Ltd
3 Harold Street, North Parramatta NSW 2151
Phone: (02) 9630 8788
ABN: 32 003 068 540 | AFSL: 241251
