Businesses that dropship needs either a small business insurance plan or commercial business insurance in Florida. They should also carry product liability insurance in Florida. Your product insurance plan is especially important if you drop ship anything related to food, children’s clothing, medical supplies, clothing, nutritional supplements, or anything with a risk for harm or loss.
Dropship Fully Insured
Whether you are looking for a small business insurance plan or a commercial plan for a large enterprise, you should be aware of the risk of lawsuits. Lawsuits always make keeping your business open harder, but we all know that they can also close a business. Today, product liability lawsuits are awarded at the highest rate for plaintiffs. It’s easier than ever for a customer to file a lawsuit for issues related to a product they bought.
Customers can try to sue any number of people if they feel they have experienced issues with a product. Even if you are responsible only for shipping the product, the client may try to claim compensation for issues related to the manufacturer. It’s hard to go wrong with too much insurance these days if you sell, ship, or manufacture products in any way. Product liability insurance is also important for people who represent products. You should carry this type of insurance if you demo products at trade shows or help develop retail accounts where you don’t directly handle a sale.
Business Insurance for Employees and Risk
Drop shipping businesses should also carry some insurance that other types of businesses might carry. Insurance for employees and health insurance is usually relevant. You may find this especially important if you have employees who handle a lot of products physically.
A well-prepared business owner should also look at professional liability insurance policies and worker’s compensation policies. These types of policies will help you handle issues related to payroll discrepancies, management disputes, and workplace injuries.
Large and small businesses that dropship will benefit from experienced advisors. Product liability insurance will cover you, and it is always better to work with an insurance agent who knows the details and nuances of product liability. Talking to an agent about the specifics of your product and business plans will help you get the most coverage. Your agent can also help you stay in the knowledge related to other industry issues and get a policy that will reduce your liability worries.
National Risk Experts works with many different insurance companies to get our clients connected with the right insurance. We deal in all kinds of insurance for businesses of many sizes. Whether you are just starting to drop ship or are expanding your operation, we can help you get plenty of coverage. Our clients come to us for worker’s compensation coverage, commercial business coverage, personal liability insurance, product liability insurance, group health plans, key person insurance, commercial property insurance, and more. Contact National Risk Experts today to find out more.