Although you may not have a traditional ‘bricks and mortar’ retail store, there are many issues that can affect the viability of your business if you don’t have insurance cover.

Do you manufacture your own products or are they imported directly by you from an overseas supplier? In both scenarios, you are considered the manufacturer of the product under Australian Law.  

Should the product you have sold online in any way cause personal injury and/or damage to property, you could be held liable for damages – and prove to be costly.  A Public and Products liability policy could protect you from these types of claims even if it is just for legal defence costs. 

If you’re operating your business from home, also note that your personal home building/contents policy would typically not extend to provide cover.

What would happen if your stock was lost due to a fire, suffered water damage or was stolen?  Most personal home contents policies may extend to provide cover for a typical home office setup but may not extend to cover the products or goods you sell. 

A standalone business insurance policy offers peace of mind and can be tailored to meet your individual needs such as cover for fire, water damage, theft and Public and Products liability.