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Business Insurance for

IMPORTING SERVICES

optional coverages are also available to meet your individual needs

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Insurance for Imported Products Businesses

Owning an imported products business can be an excellent way to earn profits while traveling around the world. Imported products come from all over, and most owners start their company by traveling to meet the creators and artists of the products they decide to sell. Even if you stay in the United States and let someone else source and send the products to you, there are a lot of details involved in running your imported products business. Protect all of the hard work and investment by making sure you’re carrying the right levels of business insurance.

General Liability

General liability is the most basic type of insurance you need for your imported products company, particularly if you lease or rent your retail space. General liability coverage helps protect your company when accidents and unexpected events happen. Most retail leases require you to carry this coverage to ensure you’re fully capable of dealing with the financial impact of these types of risks. This insurance also protects your customers, and it grows as your company grows.

General Liability Insurance Includes:
  • Premises Liability – Premises liability coverage helps protect you if an accident happens to your customers at your business location. If, for example, a customer’s vehicle sustains damages from a runaway cart in your parking lot, your premises liability insurance can pay for the repairs. If a customer gets physically injured in your store, their medical bills are covered with this as well.
  • Products Liability – When you sell products to your customers, you run the risk of being sued when a product is found to be harmful. This risk may be bigger for an imported products company because the countries you purchase your inventory from may not have the same strict regulations that the United States does. If a customer sues you because of damages or harm that was caused by products you sold, your products liability insurance can pay for the medical expenses or property repairs.
  • Completed Operations – Completed operations insurance acts much like product liability does. This portion of your general liability applies to services you render for your customers. If, after you have completed the requested operations, your customer claims that your work caused them harm or damages in some way, this part of your insurance policy can pay the customer’s bills.

Business Owners Policy

General liability is included in a business owners policy. A BOP can be tailored to meet just the specific needs of your imported products company, and it provides insurance protection for tangible and intangible assets.

  • Buildings and Contents
  • Business Income and Extra Expense
  • Electronic Data
  • Newly Acquired or Constructed Buildings
  • Employee Dishonesty Coverage

Business Auto

business auto insurance policy protects you from having to suffer the financial impacts caused by auto accidents. This coverage pays for physical injuries and property damages caused in an auto accident. Additional levels of insurance pay for cargo damages or losses, theft and other potential hazards.

Workers Compensation

When you have employees as part of your imported products business, you must provide them with workers comp coverage. This will pay their medical bills and related recovery expenses if they are ever injured on the job.

Commercial Umbrella

Umbrella coverage provides you with additional protection. When your standard business insurance policies have reached their maximum limits, a commercial umbrella policy can take care of the extra.