{"id":212,"date":"2017-03-01T21:00:06","date_gmt":"2017-03-01T17:00:06","guid":{"rendered":"http:\/\/www.awebtoknow.com\/?p=212"},"modified":"2022-10-29T22:03:15","modified_gmt":"2022-10-29T18:03:15","slug":"insure-e-commerce-business","status":"publish","type":"post","link":"https:\/\/www.awebtoknow.com\/how\/insure-e-commerce-business\/","title":{"rendered":"Essential Steps to Insure Your e-Commerce Business from Unpreventable Losses"},"content":{"rendered":"

There are thousands of Internet-based businesses operating successfully around the world. In the USA there are numerous online businesses, many of them are operated from home by entrepreneurs using websites as a platform for interacting with customers<\/a>.<\/p>\n

\"ecommerce<\/p>\n

However, as with all other businesses, e-commerce businesses<\/a> can suffer losses, some of which can be prevented while others simply cannot be avoided. Where losses can be prevented, then you should take all necessary steps to prevent this, such as hiring someone well versed in finance<\/a> to oversee your cash flow. However, all other losses should be insured to prevent the business from suffering heavy losses and possibly going under.<\/p>\n

Types of unpreventable losses in e-commerce<\/h2>\n

There are quite some losses that can occur when operating online that you simply have no control over. Everything possible should, therefore, be done to mitigate against these types of losses.<\/p>\n

Fraud and identity theft<\/strong><\/h3>\n

One of the common problem that causes online traders to incur losses. Fraudsters use different methods to penetrate e-commerce sites<\/a> and steal customer information such as credit card details, phone numbers and addresses then use this to commit forgery and fraud.<\/p>\n

Losses and damage during delivery<\/strong><\/h3>\n

Anything can happen to goods during delivery. They can be stolen, damaged or switched. Such losses can be blamed on third parties, but your customers will look to you for a solution. Your insurance can come in handy even as you wait for the delivery firm to meet its obligations.<\/p>\n

Counterfeit sales<\/strong><\/h3>\n

It is said that hundreds of online firms experience revenue losses due to counterfeit sales<\/a>. Customers always want to receive genuine product and merchandise, and many will reject counterfeit goods. This can result in huge losses.<\/p>\n

E-Commerce insurance compared to standard business insurance<\/h2>\n

Many small business owners often take out a BOP, a standard business owner\u2019s policy. This type of policy covers most risks and includes both general liability and property coverage. It is, therefore, suitable for regular small businesses. When it comes to e-commerce, small businesses have unique needs that the BOP does not cover. The most important of these are business interruptions and data security. Insurance specialists such as Akron, OH insurance agents can advise you on the most appropriate cover for your business.<\/p>\n

Data security is essential in securing sensitive customer data such as phone numbers, addresses and credit card information. While risk management is important, an insurance policy would be great. Online businesses rely on third parties to provide services such as Internet provision, website hosting, and even deliveries. These should be covered by appropriate insurance as prolonged delays could result in losses.<\/p>\n

Steps to insure your e-commerce business<\/h2>\n