Insurance for Internet businesses, startups and dotcoms are essential to protect your business. If you're one of the 8 million Britons that run an online business from home and have plans to start the next Google or Facebook, you can’t take any chances - and paying a small fee for insurance every month can be a good long-term investment.
In the event of any damages to your business, it is good to know that you have cover to pay for any replacements or actions necessary to get your business on track. Not having insurance in place could lead to huge business interruption and enormous costs to get back on your feet.
At Be Wiser Business, we are experienced in helping brand new companies get the right level of cover to suit their needs. We work with a number of startups in all types of industries and by working with leading insurance companies in the UK, we have access to a range of policies so that we can find the ideal cover for your business.
Our UK-based advisors are available by phone on 0333 999 0802 or you can get an online quote here. We will ask a few basic questions about your Internet business and provide you with a free quote straight away. If you are happy to proceed, you can complete all the necessary paperwork and get insured on the same day.
Whether you run your Internet Company in a big office, shared workspace or from home, you can insure:
In the event of fire, flood, burglary or vandalism, your insurance can pay to replace or repair any key equipment such as computers, machines and servers.
The last thing you want is to be without your computer and equipment when you are trying to run an e-commerce business. But having cover in place means that you can purchase replacement machines straight away and continue working. If you make a claim to your insurer and the accident was not your fault, the insurance company will reimburse you for all replacement purchases.
If your Internet business holds a lot of stock because you sell things online, you need to be insured in case they are damaged due to a fire, flood or theft. Your stock may be worth thousands of pounds and if it is ruined, you will be out of pocket and unable to operate your business.
However, with the right level of cover, you will be able to replace any damaged goods or be reimbursed for their value. For the insurer to honour the claim, they need to know that the accident wasn’t your fault due to negligence or forgetting to keep the premises secure.
Businesses can also insure the goods during transportation – so if the order does not go ahead because the goods were stolen or damaged in transit, you can be fully reimbursed.
Cyber attacks cost the UK economy £34 billion a year (Source: The Telegraph). Although a cyber attack may not cost your Internet business quite as much as that, the risk of hacking, security breaches and extortion is very real.
If your business is the victim of an online attack, you may need to pay for specialist consultants to fix it, a new network or server and PR to repair your brand image.
By having cyber insurance in place, your insurer will pay for anything you need to get your business in a clean and healthy state and also cover you for any lost income you may have experienced during the meltdown.
If your online business employs staff, they may be prone to working long hours in front of a screen in typically small start up conditions. If one of your employees decides to take legal action because they have been experiencing health problems from working for your business, you will need liability insurance to cover the cost.
If the court finds that the personal injuries to the employee could have been avoided due to better conditions, you will be held responsible and liable. The price of a lawsuit may include legal fees, loss of income, medical expenses and compensation. So it is essential that you have adequate insurance to pay for any employee damages and also to be compliant with UK law.
If you are selling products to the public online, you need to be insured in case the customers experience any side effects. For those selling skincare or health products, food or jewellery online, you need to be prepared for defective products and the impact this will have on your business.
Disgruntled customers may request a refund or take you to court and demand compensation. So having liability insurance for your business is important to cover any necessary legal fees and settlements.