Selling items online can be a very profitable business venture. Experts predict online sales will exceed $4 trillion in 2025 and rise even higher in the coming years. At the same time, online stores don’t have to worry about expenses connected with leasing a brick-and-mortar outlet and hiring employees to run a store. Insurance costs are also minimal, as you don’t have to pay for commercial auto, employee, and property insurance. However, you’ll still need some forms of insurance to run a successful business from your Rochester, MN home.

Liability Insurance

Online vendors, like brick-and-mortar vendors, can be sued if a product causes an accident or damage. You can also be sued over false advertising if customers believe you made claims that aren’t true. Legal costs can quickly bankrupt you even if you win the lawsuit, and the cost of paying a settlement or judgment can be prohibitive. Liability insurance covers legal costs, settlements, and judgments to enable you to keep your business running even if you are faced with legal action.

Cyber Insurance

If you sell items on your own online platform, you most likely have a lot of your customer’s personal and financial information. Unfortunately, hackers frequently target small business owners who can’t afford to pay for powerful cybersecurity products and services. Cyber insurance can cover financial losses, legal costs, and other expenses related to an IT breach.

Contact Safechoice Insurance Agency for More Information

Safechoice Insurance Agency in Rochester, MN, specializes in helping small business owners obtain quality coverage. Call us to learn more about your options or to get policy quotes.