Welcome to the Coverdash insurance blog. Here you’ll find valuable articles tailored to your business needs, so you can be ready in a dash for whatever comes next.

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Coverdash and Promenade Team Up to Provide Embedded Business Insurance to Retail SMB Customers

Today, Coverdash, the leading embedded insurtech focused on small business, and Promenade Group, the all-in-one digital solution that helps small business owners to thrive online, announced a partnership to help business owners get proper insurance protection online. Coverdash’s industry-leading, embedded insurance technology enables small business owners to quote, bind, and pay for tailored insurance policies in a matter of seconds, all without leaving the Promenade platform. Through Coverdash’s relationships with many of the world's most recognized insurers, Promenade small business customers can get the coverage they need at the industry’s most affordable rates. According to a recent study conducted by the Insurance Information Institute, a staggering 40% of small businesses in the U.S. lack any form of insurance coverage. However, obtaining business insurance is an essential element in creating and maintaining a thriving business. From limiting liability, to protecting employees and customers - business insurance is critical and often legally required in the U.S. “The lack of transparency when it comes to insurance has left small businesses vulnerable and underinsured,” said Ralph Betesh, CEO and co-founder of Coverdash. "Insurance should be a safety net, not a tightrope. At Coverdash, we believe that insurance needs to be accessible, simple, and affordable for everyone. Our partnership with Promenade enables us to provide small business owners with a solution that delivers instant coverage, easy-to-understand policies, and exceptional customer service.” "Promenade is committed to investing in new capabilities that help support small business owners at every turn, and the embedded insurance integration in Promenade's platform powered by Coverdash helps us deliver on that commitment," said Gregg Weisstein, co-founder of Promenade Group. Promenade customers can easily access a broad range of insurance coverage options, including liability, property, workers' compensation, and cyber in their user dashboard or at About Coverdash Coverdash is a fully-digital, business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experience with a single line of code. Coverdash is headquartered in New York and is a licensed insurance agency across all 50 states. Interested in partnering with Coverdash? Check out: About Promenade Group Promenade Group is a software company empowering small, local businesses with the technology, knowledge and support to attract and retain customers with one powerful platform. Originally known as BloomNation, Promenade offers an easy-to-use e-commerce platform and management solution to help local businesses get online and reach new customers, grow online sales and easily manage both online and in-store orders. For more information, visit
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How to Get US-Based Liability Insurance for Your Overseas Ecommerce Business: A Guide for International Sellers

As an ecommerce seller based outside of the United States but selling into the US, you need to make sure you have US-based business liability insurance to protect your business from legal claims and fulfill Amazon’s (and other ecommerce platforms) seller insurance requirements. However, securing this insurance can be a challenge, as insurance companies may require a US-based address to issue the policy. Don't worry! Coverdash has you covered. We provide insurance solutions for many small and medium enterprises with US operations, and we're here to help you find the right coverage for your business. In this blog post, we'll outline three options for obtaining a US-based address to get the insurance you need. Option 1: Use the Address of Your Attorney If your overseas company has an attorney or law firm representing you in the United States, you may be able to use their address to obtain US-based business liability insurance. This option may be suitable for companies that have an established relationship with a US-based attorney or law firm. Using the address of your attorney can provide a stable and permanent location for your business to receive important legal documents and correspondence related to your insurance policy. However, it is important to ensure that your attorney is willing to receive your business mail and that they have the appropriate permission to do so. Option 2: Use the Address of Your 3PL Provider Another option for obtaining a US-based address for your overseas company is to use the address of your third-party logistics (3PL) provider. A 3PL provider can offer warehousing, shipping, and distribution services for your products in the United States. Using the address of your 3PL provider can provide a physical location for your business to receive important documents and correspondence related to your insurance policy. As most insurance correspondence is virtual, this will place minimal if any burden on the 3PL provider. Option 3: Use a Virtual Office Service A virtual office service is a cost-effective solution for overseas companies that need a US-based address. Virtual office services provide a physical address, mail handling, and telephone answering services for your business. This option can be especially useful for startups and small businesses that do not have a physical presence in the United States. Using a virtual office service can provide a professional image for your business and allow you to receive important legal documents and correspondence related to your insurance policy. Obtaining US-based business liability insurance can be a challenge for overseas companies, but there are options available. Using the address of your attorney, 3PL provider, or a virtual office service can provide a US-based address for your business to receive important legal documents and correspondence related to your insurance policy. Your Ecommerce Insurance Needs At Coverdash, we understand the unique needs of international ecommerce sellers doing business in the US. Our team of experienced insurance professionals can help you find the right insurance coverage for your business. We offer a range of insurance solutions, including general liability, product liability, and workers' compensation insurance. Contact us today to learn more about how we can help protect your business.
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Coverdash and Nitra Join Forces to Provide Embedded Business Insurance to the SMB Healthcare Ecosystem

Today, Coverdash, the leading embedded insurtech focused on small business, and Nitra, a leading provider of modern financial solutions to physicians and medical professionals in the healthcare industry, announced a partnership to help existing Nitra customers get proper insurance protection online. Coverdash’s industry-leading, embedded insurance technology enables customers to quote, bind, and pay for tailored insurance policies in a matter of seconds, all without leaving the Nitra platform. Through Coverdash’s relationships with many of the world's most recognized insurers, Nitra users can get the coverage they need at the industry’s most affordable rates. “The distribution of business insurance within the healthcare ecosystem hasn't changed in over 50 years,” David Vainer, COO and co-founder of Coverdash. “Through our partnership with Nitra, we aim to finally make insurance transparent and seamless for the next generation of healthcare and medical practice owners.” "At Nitra, we're always looking for ways to provide our customers with the best possible financial solutions to support their practices. Our partnership with Coverdash represents a significant step forward in achieving that goal,” Jonathan Chen, CEO and founder of Nitra. “By integrating Coverdash's business insurance solution into our platform, we're able to offer our customers instant access to comprehensive business insurance coverages at industry leading rates.” Nitra customers can easily access a broad range of insurance coverage options, including liability, property, workers' compensation, and cyber in their user dashboard. About Coverdash Coverdash is a fully-digital, business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experience with a single line of code. Coverdash is headquartered in New York and is a licensed insurance agency across all 50 states. Interested in partnering with Coverdash? Check out: About Nitra Nitra is enabling smarter spending for the next generation of healthcare. We offer a simpler, automated way for healthcare practices to manage their spending and create time for what matters. With streamlined accounting, a clear overview of spending, and access to exclusive rewards, our members are empowered to find the right balance between supporting their patients and running their practice.
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5 Must-Haves for Every Freelancer

Freelancers are becoming a large part of the workforce in America. A report in 2020 indicated that 59 million Americans freelance, and that number is only expected to grow---up to 90 million by 2028. Whether you freelance full-time, or you have just picked up some additional work, freelancing offers many benefits that make it an attractive way to earn money. Freelancer Must-Haves Freelancers such as programmers, designers, accountants, writers, content creators or any other independent professional offering services in the gig economy have different needs than traditional employees because they are self-employed. In order to be successful, there are five things that every freelancer must have. Insurance. Because freelancers don’t work under the umbrella of an employer, they must protect themselves with the right insurance program. That means there is no insurance for property and real estate caused by fires, theft, and other events. Personal insurance policies do not cover business-related claims so while a personal insurance policy may offer some coverage based on the claim, it will not protect you from business-related liability claims. Types of insurances that freelancers should have include: Professional Liability Insurance. This is the most important type of insurance policy for freelancers because it protects against mistakes that harm the clients’ bottom line.  For example, if you are a freelance web developer and committed in writing that your client’s website would be ready by Black Friday, the client could sue you if you do not meet the deadline. Professional liability insurance would cover legal fees. General Liability Insurance. Many freelancers purchase this type of policy because it protects against customer injuries or third-party damages. Commercial Property Insurance. Even if you work from home, you may still need commercial property insurance to cover damages to your business property. If your computer is stolen from your house, your homeowner’s or renter’s insurance may not cover it. Cyber Liability Insurance. Because many freelancers that work in IT are privy to customer data, they are at risk to cyber-attacks. Cyber liability insurance covers the expenses when a data breach occurs including legal fees and civil damages. As a freelancer, it is best to work with a trusted insurance provider that focuses on small business insurance. Contracts. Having contracts with clients is necessary for operating a reliable and secure freelancing business. A freelancer contract is a legal agreement between a freelancer and their client that outlines the work that needs to be delivered. The contract exists to protect the freelancer and the client. The contract is needed so the freelancer will receive payment for the work delivered. At the same time, the company is getting written confirmation of the deliverables they can expect. Contracts should include the following information: Contact details of the freelancer and client Project scope Deliverables Timeline Pricing and rates Payment options and due dates Legal terms A thorough and comprehensive contract is needed before any work is done as a freelancer. Professional-Looking Website. An informative website is the key to getting new business as a freelancer. That way, you are able to let potential clients know exactly what services you offer. Website design can be difficult and this is probably an area where you don’t want to DIY, unless you have previous experience. If you have not designed a website before, there are plenty of services that can help you. A website design service allows you to design your website and desired functionality and will set up and run the website. The money spent is well worth it to have a professional-looking website that will help grow your business. Project Management Tools. As your freelancing business grows, you will be managing several clients. An app that manages your progress for each client as well as your daily to-do list can help keep you organized. The project management tool that will work best for you depends on your workflow, and there are many options to try. Many project management apps are free or have trial periods to allow you to test them out. Asana and Taskboard are two of the most popular. If you have a very small business with a straightforward workflow, Todoist or TickTick are good options. Invoicing Software.  As a freelancer, you will be responsible for keeping track of your hours and sending out invoices, so you get paid. Many clients will require an official invoice in order to be able to pay you. Some freelancing job boards already have an invoicing feature built in, but for other clients, you will need to bill them. Tracking invoices and payments not only means you will get paid on time but will make things easier come tax season. Some apps also include time trackers to keep track of your hours or other key features that will be crucial to your daily workflow such as inventory monitoring, currency conversion, taxation, and recurring billing. Invoices can be customized to fit your business needs. Your Freelancer Insurance Needs Being a freelancer comes with many benefits, but also introduces some new areas to consider now that you are not working for a company. Coverdash is able to provide you with all of your insurance needs as a freelancer.  In fact, insurance for small businesses is our specialty.  Contact us today to find out exactly how we can get your freelance insurance set up for you.
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The 6 Biggest Factors Affecting Small Businesses in 2023

Running a small business is a challenge, and 2023 looks to be yet another uncertain year for small businesses. However, you can prepare for the challenges for the upcoming year by being ready and prepared for them. Having a solid contingency plan and being able to implement it ensures business continuity for your company. Without one, businesses cannot survive in today’s uncertain landscape. 2023 Factors If global inflation and supply chain issues continue into 2023, there will be risks in this coming year that will require some preparation from small businesses. Rising costs will mean more money spent for raw materials and components. Shortages will cause delays. Geopolitical situations will put a strain on supply chains globally. Each of these factors will test small businesses. 1. Financial Management Financial risks will be plentiful in 2023, unfortunately. Managing finances of a small business will be difficult this coming year with higher costs for just about everything. The Federal Reserve has made it clear that interest rates will remain high which makes the cost of borrowing more difficult for small businesses. Some economists point to a slowing of the economy as a recession, which means that consumers will be less reluctant to spend and more savvy about what they buy. What Your Small Business Can Do:  Sound financial decisions are important, especially in a period of inflation and higher interest rates. There are many automation programs that can help small businesses manage their books and keep an eye on profit margins and cash flow. 2. Increasing Your Customer Base Customer service is a challenge for all small businesses all the time as no company can survive in today’s market without strong customer service skills, no matter what the industry. Small businesses must always find new customers while being mindful of customer acquisition costs. However, lead generation can be enhanced by improving the company’s website and social media channels. What Your Small Business Can Do:  There are more ways than ever to find new customers even on a limited budget. Social media digital marketing is a great way to reach your target customer base without blowing the budget. 3. Cyber Security Threats As small businesses continue to digitize their assets, the convergence of information technology and operational technology systems is becoming increasingly common. However, security vulnerabilities will lead to an increase in cyberattacks. These disruptions can be extremely costly, especially for a small business. There will also be a rise in cyberattacks through AI (artificial intelligence) with more automation of the attacks such as finding vulnerabilities and evading detection. AI malware will evolve in response to security measures, making it harder to protect a business. What Your Small Business Can Do:  The best protection against cyber security threats starts with education about how to prevent them.  Make sure your employees are up to speed on how important it is to protect your business. Small business insurance can also help to protect against these threats. 4. Having the Proper Insurance With all of the risks a small business faces in 2023, it is critical to have the proper coverage beyond cyber insurance. Events like a natural disaster, vandalism or theft can affect any small business. If your business is not insured against these occurrences, it could be destroyed with no finances to replace or repair what was damaged. Property insurance will cover events such as natural disaster, vandalism, fire, or theft. What Your Small Business Can Do: In addition to cyber insurance and property insurance, many businesses also carry workers’ compensation insurance, general liability and professional insurance. Talk to an insurance companythat understands small business insurance. Many small businesses require a tailored approach to meet their coverage needs. 5. Supply Chain Disruption Supply chain disruption has been increasing since 2020 and is not expected to improve much this year. Global supply chains are more vulnerable to problems outside a company’s control, for example an earthquake that shuts down a factory. Shortages in certain items remains and overall stress on supply chains is at an all-time high. Because shortages and delays can really harm a small business, rethinking the supply chain is necessary. What a Small Business Can Do: Small businesses must diversify their supply chain and look to alternatives for suppliers who cannot meet their demands. Suppliers and production facilities that are closer to home or spread out geographically is one way to be able to manage disruptions. 6. Sustainability Sustainability is being mentioned everywhere, including for small businesses. The issue of sustainability is two-fold. An increase in adverse weather conditions will mean that businesses must update their disaster recovery response. These conditions will disrupt supply chains and daily operations. Weather-related connectivity issues will be a large concern for businesses. At the same time, consumers are looking to businesses to help counteract climate change. Consumers are willing to be loyal to companies that are mindful of climate change and the earth’s wellbeing. What a Small Business Can Do:  When possible, make changes in your processes that support green initiatives. Your customers want to know that you are committed to sustainability. Small Business Insurance to Cover Every Day Risks This year could present small businesses with issues that need to be handled the right way. With so many risks to small businesses, it is easy to feel overwhelmed with the challenges this year might bring. However, Coverdash can mitigate these risks with insurance to fit your businesses’ needs. From general liability to cyber coverage, we give you the insurance you need to handle any issues that come your way.
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Business-Focused Insurtech Coverdash Announces Launch After Oversubscribed Seed Round

New York, NY- January 23, 2023 - Coverdash, a fully-digital business insurance startup providing simplified insurance solutions to businesses of all shapes and sizes, is pleased to announce the company's official launch and the closing of an oversubscribed seed funding round. Based in New York City, Coverdash simplifies the process of buying and managing business insurance for e-commerce merchants, gig workers, and all other types of businessowners. The company offers a broad range of commercial insurance products, including liability, property, workers' compensation, and cyber. Coverdash's digital insurance experience enables businessowners to quote, bind, pay for, and actively manage insurance policies in a matter of seconds. Through relationships with many of the world's most recognized insurers, Coverdash provides the coverages growing businesses need at the most affordable rates. Coverdash's embedded technology enables partners to easily offer insurance to existing customers with a single line of code. Integration is straightforward, requiring no extensive engineering resources or implementation. Coverdash's network of embedded partners include leading online market places, service providers, PEOs, lenders, brokers, and various other platforms who serve or transact with businesses nationwide. "Insurtech 2.0 is here, making the next phase of the embedded fintech revolution," said Ralph Betesh, co-founder and CEO of Coverdash, "We have created a frictionless transactional experience that is unseen within the insurance landscape. Our mission is to empower partners with these capabilities and help finally make insurance accessible and simple for business owners across the nation." Coverdash's funding round was led by Bling Capital, with participation from other notable investors, including AXIS Digital Ventures, Tokio Marine Future Fund (in affiliation with World Innovation Lab), Expansion VC, and Cameron Ventures. Multiple strategic angel investors also contributed to the round, including Greg Hendrick, CEO of Vantage Risk; Garret Koehn, president of CRC Insurance; and Steve Shenfeld, president of MidOcean Partners. "The development and adoption of commercial insurance APIs within the insurtech industry has reached a tipping point, enabling innovative companies with the opportunity to drive true growth and transformation," said Ben Ling, founder and general partner at Bling Capital. "We view Coverdash as the future of business insurance and embedded distribution. We're excited to stand alongside the team and support them as they move forward on this journey." This funding round will contribute to Coverdash's ongoing expansion and development through increased product innovation, go-to-market initiatives, and strategic hiring. About Coverdash Coverdash is a fully digital, business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experince with a single line of code. Coverdash is headquarted in New York and is a licensed insurance agency across all 50 states. For more information please visit LinkedIn, Instagram, Twitter or check out
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Cyber Security Attacks are Rampant. Is Your E-commerce Business Prepared?

Whether you are new to the e-commerce world, or have been in business for a long time, it is important that your company is protected online. According to the 2022 Cost of a Data Breach Report by IBM and the Ponemon Institute, the average cost of a data breach is about $4.35 million dollars. This takes into account legal costs, regulatory costs, and loss of brand equity and customers. It’s enough to put a small business out of business…forever. Is Your E-Business Prepared for a Cyber Security Attack? E-commerce businesses are particularly at risk to threats and cyber-attacks since all of their transactions occur online. A survey by CloudBees found that 93 percent of executives are prepared to deal with a ransomware issue or cyberattack. However, 45 percent admit their security software is not sufficient to handle a cyber attack and 64 percent would not know who to contact first if their website was attacked. If your business does not have a plan of action regarding cyber-attacks, it is time to put one in place. Types of Cyber Security Attacks The following are ways that your e-commerce company’s security could be compromised: Malware: Malware is dangerous software that infects a company’s devices and steals data or causes damaged. This can be transmitted through email attachments, visiting websites, or access to the actual device. Ransomware: When a hacker encrypts a company’s data and demands a ransom to correct it, it is referred to as a ransomware attack. These can be very costly when the ransom and any damage control afterwards is considered. Spam: Spam are unwanted emails that are sent en masse to company employees. These emails may contain malware or links to malicious websites. DDoS: A DDoS or Distributed Denial of Services happens when a company’s server is overloaded with requests from hackers. This type of activity can crash the entire website. Phishing: Phishing tricks employees into clicking on links or attachments in emails or text messages which then can install malware or steal information. Since there are so many ways that an e-commerce company can be attacked, it is imperative to safeguard your company against a security breach. How to Improve E-commerce Cybersecurity Most companies could benefit from making improvements to their security processes. There are multiple solutions that can help ensure that your business is protected. Data Protection: Data is at the center of every business transaction. All online data must be secured so that it is not compromised or leaked. The equipment used can help to determine what resources are needed to create a highly secured connected system as a less secure data system can make a cybersecurity attack easy. A system that is connected to the public internet requires a higher level of security since it is easy to find and attack while a system that is isolated from other networks has a much lower risk of a security issue. Backup Data. Because data is so important, it should be backed up regularly to make sure it is not lost in an attack. When data is backed up, all of the information is hosted off-site, so even if the company’s devices are compromised, the data can be recovered. Educate Employees. Employees should be made aware of how to identify cyber security threats, and what to do if they suspect their device has been compromised. Internal employees should be trained on security procedures, such as securing passwords and maintaining current anti-virus software. Routine training can help protect against security breaches. Use Strong Passwords. The responsibility of keeping customers’ information safe lies with the online retailer. Ask customers to add special characters, symbols, and numbers when creating a password. Strong passwords are an easy way to protect a company’s information internally as well. Employees and upper management should change their passwords regularly to avoid a hack. Use a Secure E-commerce Platform. E-commerce websites should only be hosted on certain platforms. One that supports sophisticated object-oriented programming languages is ideal. There are many options for platforms that integrate easily but offer high security. A strong SSL (Secure Sockets Layer) authentication for web and data protection will ensure the security of all online transactions. A third-party will not be able to understand the information due to the encryption. It also helps the customer trust in the website’s security. Take a Complete Approach with Insurance.  Layering security is a good way to keep an online business safe from cyber attacks. A complete process approach is necessary to handle cybersecurity threats. Prevention, detection, containment, and recovery are all important parts of the process. Most importantly, getting the proper cyber insurance in place will protect your business from any cyber related risks. Cyber insurance coverage can help you recover faster if you are a victim of a security breach. There are several options that can cover everything from the removal of a virus to the reprogramming of devices and access points. Have a Business Continuity Plan to Cover Cyber Attacks A business continuity plan lays out the steps to follow so your business can resume operations after a disruption like a cyber-attack. While this won’t prevent cyber-attacks, it can lessen the amount of risk a business experiences. Protecting your business against cyber attacks should be a priority for your entire business. Coverdash can help you get the best policies to protect your e-commerce business, including general liability and cyber insurance in case you are hit with a cyber security breach.  Our team of insurance experts will find your business the best coverage at the most affordable rates to best fit your business’s needs, and can provide coverage within minutes. We’ll also assist you in getting your COI (Certificate of Insurance) on your e-commerce platform, so you remain complaint with platform requirements. Contact us today to discuss your options for insurance coverage.
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7 Reasons Your E-commerce Business Needs Insurance

Does every e-commerce business need insurance?  Insurance is necessary for any business, regardless of size or industry. Today, more and more people are turning to the internet to shop online and conduct business. Online retailers have risks and liabilities just like any other business and need to make sure they are protected. What is E-commerce Insurance? The tremendous growth of the e-commerce space has meant that insurance companies have created policy options specifically designed to protect e-commerce merchants. There are plenty of nuances when it comes to e-commerce businesses so insurance should focus on the risks that your specific business faces. For example, a company that manufactures their own products should have product liability insurance as part of their coverage. Separating e-commerce insurance from general commercial insurance makes it accessible to businesses that handle international shipments, customer relations, and online liabilities. E-commerce insurance policies protect against the specific risks an online company might deal with. What Does E-commerce Insurance Cover? A standard property and casualty insurance policy might not cover issues that arise for your business, such as damage to inventory during a natural disaster. E-commerce insurance covers a business should they not be able to sell their products online due to a covered risk. This is especially important should a cyber-attack, virus outbreak, or other hack occur. Commercial Property/General Liability:An e-commerce policy can incorporate these coverages to protect against property damage or injury on the premises of the property. Product Liability: Online retailers that manufacture or import products should be protected in the event that the product causes an issue or harm a customer. E-commerce insurance takes care of the product legally and can cover any incurred medical expenses for the customer. Cyber Liability: If an online business is the victim of a cyber-security attack or data breach that results in data loss, an e-commerce insurance policy will cover the cost to repair the data system as well as any legal fees to resolve the situation. Why Your E-Commerce Company Needs Insurance There are several important reasons why every e-commerce business should carry insurance. ·       Marketplace requirement. Many marketplaces including amazon are now requiring sellers that hit a certain sales threshold, to have an insurance policy in place before continuing to sell on their platform. Not having the right insurance coverage in place may result in your business being suspended from selling on many marketplaces. ·       Coverage for Legal Expenses.  The risk of being sued is part of running any business. E-commerce businesses are no exception. Insurance that covers legal expenses can be used in any situation in which the business is brought to court. This covers legal fees as well as damages that are awarded to the plaintiff. The high cost of legal fees could put an e-commerce business in bankruptcy. ·       Protection from Defective Products. Defective products can cause injuries to customers, which creates a risk to e-commerce businesses that can be held responsible for these injuries. In 2021, 11.1 million consumers were treated in emergency room hospitals due to product injuries. E-commerce insurance will cover the cost of legal fees, settlements and judgments as well as medical bills of the injured consumer. ·       Protection from Supply Chain Issues. E-commerce businesses rely heavily on their supply chains, which have become increasingly complex. Suppliers send raw materials that are manufactured and then send to the customer as a final product. There are many risks along the supply chain from breached contracts with the suppliers to goods that are damaged in transit. Insurance can protect against supply chain issues such as damage to goods, fraud, stolen goods, and contract breaches. ·       Inventory Protection. If your e-commerce business sells goods, inventory protection is important. Lost or stolen products mean a loss of income for an e-commerce business. Insurance is also necessary when inventory is damaged in a fire or natural disaster. E-commerce retailers need to pay for replacements and additional shipping costs for any lost or stolen items. There can also be damage to the e-retailer’s reputation if they are not satisfied with the reimbursement process. Insurance can mitigate these financial risks by reimbursing for replacements or coverage for legal fees. Tip:  Base your coverage on your projected inventory for the next year, not what is currently in stock. ·       Website Coverage. A business can temporarily shut down for several reasons. When an e-commerce website gets shut down, even for a short period of time, the company can lose income. If your website is built on a platform that is hosted by a third-party provider, they are not responsible for protecting your business in the event of a cyber security breach. E-commerce insurance can minimize the financial damage that occurs when a website goes down. ·       Protection Against a Cyber-Attack. A cyber-attack is a serious risk for an e-commerce business. A data breach will expose sensitive information, such as a customer’s credit card number. A hacker can use this information for identity theft or to make fraudulent purchases. On a larger scale, a data breach can result in loss of data or the shutdown of a business’s website. While this can be a costly attack, e-commerce insurance can protect a company from financial losses associated with a cyber-attack. Insurance policies reimburse companies for lost data, revenue, and customers, and can also take care of the cost of re-establishing the data or website. E-commerce data loss coverage varies from one policy to the next but is usually in the large range of $1,000 to $50,000 worth of coverage per customer. Getting E-commerce Insurance E-commerce businesses face numerous risks from manufacturing to shipping products. While it is not possible to eliminate all risks, insurance can help to protect your company against these events and can be customized for your company’s size and policy needs. Coverdash will provide your business with customized policies to protect you against risks. Our  insurance experts will find your business the best coverage at the most affordable rates to best fit your business’s needs. We are available to discuss how we can best protect your e-commerce business against risk and loss.
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How Much Does Freelancer Insurance Cost?

Insurance can provide you with the protection and peace of mind to grow and scale your freelance business. While peace of mind is priceless, it doesn’t help you set a budget for your freelancer insurance costs. So we’re rounding up some of the most popular policies for solopreneurs and home-based businesses so you can understand the costs associated with protecting your business. No time for guesswork? Request a personalized quote for freelancer insurance from Coverdash to find out exactly how much it will cost to get the coverage your freelance business needs. How Much Does General Liability Insurance Cost? General liability insurance is the most common insurance protection for businesses of all sizes, including freelancers, solopreneurs, and home-based businesses. General liability (GL) is meant to shield your business against third-party injuries, property damage, and advertising injuries, like slander, libel, and copyright infringement. Did you know? Some freelancer marketplaces, such as Fiverr or Upwork, may require you to carry general liability coverage before you can list your services. Fiverr, for example, requires you to carry adequate general liability insurance to cover the more common risks appropriate to the services you offer. General liability insurance for freelancers is more affordable than you may think — a Hiscox survey of 50,000 small business owners revealed the average cost of general liability is around $30.00 per month. How Much Does Professional Liability Insurance Cost? Another common freelancer insurance policy protects your business against lawsuits from clients who claim they’ve suffered a financial loss due to alleged negligence or mistakes from your work. Professional liability insurance is particularly popular with freelancers who provide a service or offer advice and consulting to clients. If you’re a service provider or consultant, such as an IT professional, website designer, graphic designer, photographer, accountant, or financial consultant, you may want to protect your business with professional liability insurance (also known as E&O or errors and omissions insurance). Whether you’re at fault or not, professional liability is intended to help cover legal costs in the event of a lawsuit from an unsatisfied client who feels you’re responsible for their financial loss. The median cost for professional liability insurance is around $60 per month. Most small businesses and freelancers invest between $500 - $1,000 annually for the peace of mind of this service-based business protection. How Much Does a BOP Policy Cost? So far, each freelancer insurance policy averages less than $100 per month, a price most solopreneurs could easily afford. However, when you need multiple coverages to protect your business, the cost of freelance coverage can add up. A Business Owners Policy (BOP) provides a cost-savings benefit for small business owners who need multiple policies to protect their business. BOPs typically combine the protection of general liability and commercial property into one packaged policy that costs less than purchasing them separately. Combining these two policies into one BOP bundle could cost you an average of $57 per month, although your exact costs could vary depending on how much coverage you need and whether or not your BOP bundles in additional protections as well. How Much Does Cyber Liability Insurance Cost? Many freelancers can benefit from the protection of cyber liability insurance, a policy designed to protect your business in the event of a data breach or data loss. Advances in technology allow many freelancers to work wherever a laptop and WIFI network is available. “Digital nomads” is a term used to describe the intrepid explorers who run their freelancing businesses as they wander from one (often exotic) local to another. While other freelancers may wander no further than the local coffee shop, the data breach risks remain the same. Cyber liability insurance can help protect your business from the costs associated with a data breach or hack if you handle sensitive information such as credit card information, client data, or personal information. Cyber liability is becoming increasingly popular with IT professionals and other freelancers in the technology space. The median cost of a cyber policy is around $140 per month. Get a Quote for Freelancer Insurance from Coverdash Coverdash provides insurance solutions for freelancers, solopreneurs, and home-based business owners. We specialize in freelance insurance, insurance for ecommerce sellers, and coverage for small businesses, and we can provide a fast and accurate insurance quote from top-rated carriers that’s tailored for your specific business needs. Request your quote today.
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