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Do I Need Insurance for Your Online Business?

Do I Need Insurance for Your Online Business?Know how to protect your digital business venture.

You’ve finally done it! You’ve taken your dream of business ownership to the internet and started your career as an entrepreneur. Whether you’re selling product or services online, today’s digital marketplace makes it possible to succeed with a little more than a great idea, website, and marketing plan. It’s important to bear in mind that your online business will be exposed to unique risks, too. As the owner, you may need to secure several lines of business insurance coverage.

General Liability

General liability is that type of umbrella coverage for your business that will keep you protected against a variety of issues. Some of these include:

  • Libel
  • Slander
  • Copyright infringement
  • Wrongful termination
  • Discrimination
  • Business property 

Your equipment may be covered under your general liability, or you may need to purchase a separate policy to cover your business equipment. Remember that your homeowners insurance may not provide liability coverage for business dealings or protection for business equipment – even inside the home.

Workers’ Compensation

Even if you hire just one employee, you will need this coverage. This is insurance to cover your employees if they get ill or injured on the job. Even if you’re a sole proprietor, you’ll often be required to have workers’ compensation if you do work with a larger company.

Professional Liability

If you’re in the business of giving advice of any kind, you are professionally liable for harm caused to a customer if you make a mistake or fail to deliver the promised results. Also known as errors and omissions coverage, this type of insurance provides protection for damage against civil suits that you could face.

Cyber Liability

Any business that has a web presence runs the risk of hacking or a data breach. If you store sensitive client information on your servers, the cost to your business can be very high if that data is stolen.

Protect your business in one of the best ways – by securing insurance. Contact Bell Black Insurance to get started on your coverage for your online business.  Serving Idaho Falls, Island Park, Driggs, Victor, Swan Valley, Ashton, and the neighboring communities in Idaho, as well as Jackson and Star Valley in Wyoming, we are ready to get you covered today.