There are 163,278 eCommerce businesses in the UK, and approximately 68% of businesses in the UK have a website and operate online. Whether you’re using emails to communicate with clients, taking bookings, using social media to advertise your business, or using your computer to research and place supply orders, it’s likely that your business has an online presence or uses the internet in some form.
Why Does Your Online Business Need Insurance?
Your online business will come with its own set of risks, such as data breaches, product or service issues, and third-party claims. If you were faced with one of these issues, this is where an insurance policy can step in.
Types of Insurance Cover That an Online Business May Need
Cyber Insurance
One of the biggest risks that an online business will face is cybercriminals, data breaches, and ransomware. Therefore, it’s important to ensure that you have cybersecurity measures in place to prevent any attacks. However, in the unfortunate event that an attack happens, cyber insurance can help with any ransom the criminal is requesting, legal costs, external support to get your business up and running again, investigation expenses, and much more.
Employers’ Liability Insurance
If you hire employees for your online business, employers’ liability insurance is required by UK law. This insurance policy will protect you against claims from employees who are injured or become ill in the workplace.
Business Equipment Insurance
If you use any equipment to create the products you sell online, this type of insurance will protect your assets. From computers and printers to machinery such as sewing machines, lighting, food equipment, and much more, business equipment insurance ensures your tools are covered.
Legal Expenses Insurance
In the event you need legal support, legal expenses insurance will cover any legal fees for disputes. This can include, but is not limited to, contract issues, tax investigations, and employment tribunals.
But What Type of Insurance Does MY Business Need?
At Hallsdale Insurance we understand that every business is different, and a “one-size-fits-all” solution wouldn’t be appropriate. We take the time to learn about your business and provide a bespoke quote tailored to your business requirements.
We offer a full coverage review with our advice on what your business needs and will answer any questions you have, explaining any terminology or insurance jargon. Our goal is to ensure you have a complete understanding of your policy and what you’re covered for.
For a new quote or a review of an upcoming renewal, get in touch with our team of specialists today. Call us on 01536 303301 or complete our contact form, and we’ll be in touch as soon as possible.