A-to-z Claims Process for Property Damage and Personal Injury INSURANCE REQUIRED

#34

Business liability insurance can be very reasonable. Add on Commercial Property and Product Liability coverage and the quotes raise substantially. Just went through this with our agent (a large nationwide provider) for a new policy 2 months ago. We are a food manufacturer and many of our larger retail customers require up to $4 million product liability coverage. Our quote broke out like this:

General Liability Coverage: $469.00/year
Product Liability and Commercial Property Coverage: $9092.00/year

This is the second year with this insurance company. Never had a product recall or any claims made. Other quotes were within a few hundred dollars of this one.

#35

I’m in the same range as you. I’ve never had a claim and been using the same company for over 10 years. I kept seeing posts about people paying $500-$1500 a year and thought I was doing something wrong.

#36

Shot story google amazon insurance accelerator info will pop up—1m coverage $25. a month e-commerce

#37

Just another scam to fill the pockets like paying online state tax

#38

So what liability covers if someone decided to eat a bunch of B00MOT5TCE and they got a heart attack?

#39

Per @SEAmod, go to here to ask questions and get answers from Amazon directly: Requirement for Commercial Liability Insurance and Launch of Insurance Accelerator.

The original announcement topic is here: Expanding A-to-z Guarantee to protect customers and sellers (US).

#40

Linc not working

#41

If you want to be punished for success, see what happens if you get sued and you don’t have insurance.

#42

Considering I pay about 26 cents per hundred of my gross revenue I’d glad fork up another $1500 a year for sales growth! I’ve had my insurance since 2014 and while I am asked every year to update my figures as necessary I have never been “audited”. Might be cause I’m still relatively a small fish compared to some of you.

#43

How many claims have you had in the past 32 years?

#44

None. And if I did have one… After they paid it I expect they would cancel me.

I did not list “errors and omissions” as part of the package. One error, one omission, it’s bye, bye. I get it.

#45

Here are the quotes that I received from the Insurance accelerator program (wanted to see how they compared to my current carrier).

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Mu current carrier is $918, but that is with business property coverage for $25K.

#47

Strange, Amazon asked us for it before they allowed us to sell. In fact, it was during the signup process (although this was years ago.) Due to that, the message that the OP listed about insurance was rather surprising as I thought it was required by every business automatically upon signup.

#48

Yup followed that to the “t” thanks for posting, great list for Sellers that did not have insurance & for those who had an were not aware of the correct format, Thanks Good Times (JJ & Thelma were my faves!!:joy:LOL) Your list is Dyn-no-myte!!!:joy::partying_face::raised_hands:t2:

#49
#51

Use your insurance provider you use for home and auto. The insurance providers Amazon “recommends” are tied with affiliate links which pay Amazon when you sign up. They are often more expensive. Don’t forget to ask your agent if all of your inventory is covered. Many policies won’t cover used goods or inventory not obtained from a direct supplier.

#55

Dang, I wish I could do all in that cheep here!!! My business liability policy alone is about half that upper number per year and DOES NOT COVER anyone coming on my property. Things vary from state to state and what kind of property you have. We are actually a farm and in Florida it appears to be very difficult to get any all round insurance on a farm property at an affordable price. (Last check, without a business and not covering any of the equipment or livestock, a basic home/property insurance that covered liability on my place would have cost me $2700 per year.)

BUT, getting the insurance to cover your e-commerce sales liability shouldn’t be too bad. My first year I got the insurance it was like $400 for the year and after that it did go down some since I’ve had no claims.

#56

it does matter what you sell. food is probably an expensive commodity to insure against product liability.

i.e., selling drones will substantially raise your rates.

i sell mostly media and toys; when i dropped drones, my insurance went from about $2000.00 / year to about $900 a year through The Hartford.

#57

do foreign sellers have access to the Amazon-approved insurance providers/program?

do these plans ONLY protect against Amazon claims?

#58

I think the Truth is, Amazon expects insurance for all sellers, but, they only require you to provide proof with Amazon as a named additional insured when you reach a certain sales level. And they have not been consistent in enforcing these rules.

Contact them to find out. No one here is likely to know since it is going to depend on which foreign country you are in and it will depend on the insurer and policy they offer as to what they cover and what it will cost.