Who needs online appliance and electronics store insurance?
Appliance and electronics businesses have the potential to see their online businesses grow, but the most successful ones know the value of business insurance.
If you have an online business that sells appliances and/or electronics, make sure you know about the unique risks to this industry and the types of insurance policies available to protect your business.
Perhaps you’ve heard of computer repair business insurance or phone repair business insurance, but you don’t know which option is right for you or what it covers. Hiscox has coverage that meets the various needs of all appliance and electronics businesses who run an online shop. Here are the types of policies we offer and how they can protect your business.
Policies available for appliance stores
General liability insurance for appliance stores
General Liability (GL) insurance, sometimes called small business liability insurance or commercial liability insurance, provides insurance coverage for your business against claims made by others including bodily injury, damage to property, or personal injury. Here are some scenarios in which a general liability policy could protect your business.
- Bodily injury: You may not have a physical storefront, but chances are you have a warehouse or home office. If a vendor comes to your warehouse or home office and falls on packing materials or a piece of equipment, you could be on the hook for that person’s medical costs. But with a general liability policy, those costs could be covered.
- Property damage: You are repairing a customer’s iPhone. Just as you are fixing a cracked screen, your cat jumps onto your desk, knocking over many items, including the iPhone. The screen is cracked yet again, but this time it might not be repairable. A general liability policy could cover you in this instance by paying for the costs to replace the phone.
- Products and completed operations: You sell a printer to a customer. After two weeks of owning the printer, the customer reports that the printer caught on fire. Although this is most likely the fault of the manufacturer, the customer sues you. With a general liability policy, the costs you incur to defend yourself could be covered.
Why do online appliance and electronics retailers choose Hiscox?
At Hiscox, we understand just how much work goes into being a successful online retailer. If you opened up an online store, we can help you grow your business by reducing risk with our insurance policies, allowing you to focus on what really matters: providing a top-notch experience to your customers.
Here are six reasons why retailers choose Hiscox over other providers for small business insurance.
- Flexible payment options: We offer you the option of making monthly payments (with no additional fees) to help you manage your cash flow.
- Tailored insurance: We specialize in businesses like yours and tailor coverage to the risks in your field.
- Claims responsiveness: When a covered claim is reported, Hiscox will immediately assign a dedicated claims representative to assist you.
- Coverage for contracts: Our insurance coverage satisfies most standard contract insurance requirements.
- Worldwide coverage: A business insured through Hiscox is covered for work done anywhere in the world, as long as the claim is filed in the U.S., a U.S. Territory, or Canada.
- Passion for service: Agents knowledgeable about your business concerns will provide you with excellent service—4.8/5 people surveyed recommended us.
Ready to learn more about how Hiscox insurance can help mitigate risk with small business insurance coverage? Get a fast, free quote online. If you have questions, call us at 1-866-283-7545 and speak with a licensed Hiscox insurance agent, Monday – Friday, 7am – 10pm ET.
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This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.