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Liability Insurance Requirements
I was required to get Liability insurance. I know 10 thou. 3 months or 10 thou. one month or asked to, by Amazon?
I will probably have only $9,000.00 in sales this year, So not sure why the mandate for insurance! Does anyone know if it is for professional sellers or all 3rd party! I read, it only refers to professional sellers? I called Amazon no one has a clue?
The real problem is all insurance company say;… Toys are not insurable by Amazon standards using Amazon referrals at this time?? So none available Of course. I have 30 days to acquire?
Any Help?
46 replies
Seller_fGluy2Rns9Cfx
No one is exempt
There’s already big discussions on this.
You will comply or leave
Seller_T5Mv3ZCUSh7Zl
It seems everybody got the email request. If you get the email, then you need to add Amazon as an additional insured.
Seller_d7Z0MKOJalf7S
It amazes me how many are surprised about this.
Amazon has always required sellers to have liability insurance.
Amazon is just now enforcing this requirement.
Seller_Cx0GtWVGeJcQh
I have been reading 1000’s upon 1000’s of seller responses… 12 yrs now! Glad we need the Good with the bad from all the genius that how we learn But…most have come and gone from seller forum for a life! Thank you all for 12 yrs of great reading!!!
Seller_Cx0GtWVGeJcQh
I seen sellers in the negative (profit margin) and no idea how? Since I enjoy what I do here on Amazon I comfortably want and get a 40% profit margin, “clear” after Fees, Boxes, Ink, Postage, Printer Etc…the most important “Pay myself” for every minute… all added to my bottom line. I have seen with an amusing clarity that most sellers have not a clue on every $$$! So I hear everybody and Many thanks for your great response’s!!!
Seller_2PLZcMeqjCRY9
Any one has any idea what documents need to submit ?.
We have State Farm insurance. I talked to my agent, she said product liability is already in place in our general insurance for upto 2 Million per occurrence. She provided me certificate of insurance, I submitted to Amazon and got this reply. “The type of insurance does not meet our requirement. We only accept commercial general, umbrella, or excess liability insurance written on an occurrence basis.”
I talked to my agent again she assured me that our policy is a commercial general liability policy. So anyway I submitted a whole declaration of the same policy which stated all the details including inclusions and exclusions. Then I got this reply “The document does not qualify as proof of liability insurance. Your insurer will need to issue a “Certificate of Insurance,” which details the property and persons covered, the amount of coverage, and any exclusions or deductibles.”
I m total confused now: First I submitted COI and Amazon said that this policy does not meet the requirement, then I submitted the same policy again in details declaration ( 19 pages total) and they said it did not have detail : “property and persons covered, the amount of coverage, and any exclusions or deductibles.” Are the people at Amazon really qualified to ready and comprehend what a insurance policy looks like?
Any (real) seller has any experience of getting document accepted ?
Seller_gbUC5XnnmbsX8
I sell toys and you are correct that none of the 3 amazon suggested insurers will cover you. I’ve been using The hartford for 12 years now and had to upload the policy to amazon recently and it was a huge hassle. I pay $6000 a year for my insurance which is a little high because of my yearly sales but I think just to cover toys its going to be at least $3000. The only reason I checked the amazon recommended insurers was to see if there was a cheap policy that would be easy to upload but no luck since they wouldn’t insure toys. I’m waiting to see if they really enforce this since a lot of the competition on my listings have very few feedback or just launched and I cant imagine they will all be taking out expensive policies that usually require half the year upfront. A lot of sellers have posted that they paid $300 for the year and it took 10 minutes and was simple, that is not the case for toys.
Seller_rjZzBK8t0wZt7
I understand that we all have to get liability insurance but someone I talked to made a good point.
If someone buys " in this instance a toy" that is made by Mattell or Hasbro or something like that being sold by a third party seller.
And a kid chokes on it. Who is the person likely to sue. The 3rd party seller or the Manufacturer.
You wouldnt have sued Toys R Us back in the day.
Seller_RxTyqBmpWLFi1
Amazon’s insurance carrier gives them a credit when sub businesses carry insurance naming them as additional insured as they do with any business. So they get the credit and we pay for insurance we will never be required to use as ANY attorney ain’t suing the little guy. They go right for the top. At the end of the day Amazon is liable for each and every item they sell, or allowed to be sold, on their platform.
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