I have a home based retail business that sells products online. I keep inventory in my home. What kind of insurance do I need? Does anyone know what the costing runs about?
Nicole
2007-04-12 09:02:03 · 3 answers · asked by Nicolleta 2 in Business & Finance ➔ Insurance
You're probably not REQUIRED to have any, by anyone. But here are some possibilities: general liabiltiy, in case you get sued. Property, in case of fire or theft, that wipes out your inventory. ECommerce, for internet fraud/wire fraud.
Cost is going to vary wildy from $1500 a year for start up, to tens of thousands, depending on sales, type of materials sold, where you get them from, and where you store them.
You'll have to talk to a local agent to get specific quotes.
2007-04-12 10:20:35 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
You would need fire insurance, auto insurance, and maybe product liability insurance. What are you selling? The cost of the insurance is all over the map. Make a few appointments with some agents in your area and have them submit a proposal. Make sure they are quoting similar policies. There are several factors that impact the policy's cost: agency overhead and profit, the carrier's (actual insurance company's) rating and profitability. Another factor is how fast you are willing to pay for your annual coverage; if you stretch the payments out over the term or several months, you will pay more.
2007-04-12 09:12:04 · answer #2 · answered by Scott K 7 · 0⤊ 0⤋
try here. http://www.anrdoezrs.net/click-1748196-10310129
2007-04-12 21:02:26 · answer #3 · answered by passport2 2 · 0⤊ 0⤋