If you’re running an online-only business in Virginia Beach, VA, you don’t need to worry about insuring your commercial property, and you probably don’t have much equipment to insure. As long as you call your home insurance agent and let them know that you’re running a home business, you’re probably already covered.
But that doesn’t mean that you don’t need any insurance whatsoever.
The big concern in commercial insurance is a liability, and that applies to all of us. Whether you’re running an amusement park or selling hair ties on your eCommerce website, you’re going to be inviting some liability.
And that applies to companies that only sell digital products and services, as well. If you sell apps through your own website and someone hacks into your database to steal your customers’ financial information, that could land a very expensive lawsuit in your lap. There are stories of apps and platforms that leave users open to cyberattacks, and, again, that puts liability on the shoulders of the person who created the app or platform.
If you run a small Etsy or eBay shop, the site has some liability insurance in place and will generally bear the brunt of any legal repercussions, for the most part. There are some exceptions, and if you run a large shop on any of these platforms, you’ll want to consider buying liability insurance.
Ultimately, every business, if the owner depends on it for their income, would be well-advised to carry liability insurance. If you run an online-only business you may be inviting less risk than someone who runs a restaurant or a book store, but you are still inviting some risk into your life by running a business at all.
If you’re still shopping around for insurance for your Virginia Beach, VA business, visit the Armor Insurance Group or call Armor Insurance Group on the phone to get the protection your business needs.