I just received an email from Amazon requesting proof of commercial liability insurance. What are the requirements to obtain it, and how much does it cost?
I need a provider that offers commercial liability insurance for an individual. Given my current sales, I don’t think it’s worth registering a business at this stage. If anyone knows of such providers, please let me know.
Most commercial insurance is $20-$30 a month pretty cheap. Hiscox, progressive you name they all have it
Amazon requires sellers to have commercial liability insurance if their gross sales exceed $10,000 in any month. The policy must include a minimum coverage of $1 million per occurrence and in aggregate, cover product liability, and list “Amazon.com Services LLC and its affiliates” as additional insureds. Since you’re selling as an individual and don’t want to register a business, you’ll need a provider that offers policies to sole proprietors. The cost typically ranges from $300 to $1,000 per year, depending on your coverage, products, and provider. Some well-known insurers that offer policies for Amazon sellers include Hiscox, Next Insurance, and CoverWallet. It’s best to compare quotes and ensure the provider meets Amazon’s requirements.
What’s your business model? This is usually required when you cross $10K if you’re operating in the USA. I can guide you, it’s easy, and you can do it yourself.
My Certificate of Insurance is good, my friend actually made use of them and what they majorly do is collecting, verifying and managing insurance certificates. But I don’t know the cost, I might ask him, if you don’t mind.
Do they provide insurance for an individual as opposed to a company?
Yes, they do.
Hi lanyial. Kika who created this forum, recommeneded PolicyBee to me (they use Hiscox) and very good value. Using this referral link we both get a £20 bonus for taking out their business cover.
https://www.policybee.co.uk/refer/gpyf-327
When signing up, do ensure you’re fully covered for products liability cover to the value of £400k (or the equivalent currency in your locale) as I needed to stipulate this on to my cover.
Hope this is helpful.