E-Commerce Insurance in New Jersey – NJ

If you conduct an e-commerce business, you need e-commerce insurance in New Jersey. e-commerce businesses are extremely common these days and account for approximately 3.53 trillion US dollars.

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Similar to operating any type of business, big or small, you shield your e-commerce business from failure, which is why you should get e-commerce business insurance.

E-Commerce Insurance in New Jersey

Reasons Why Your Online Business Needs Insurance in New Jersey

There are many reasons why your e-commerce business needs insurance including:

Data Breach and Data Security

Online businesses are susceptible to a data breach, which takes place when customer information is stolen.

Even if you’re just launching an e-commerce business, you’re probably going to gather personal customer information.

And it is not the amount of information you collect, losing even one entry could cause big damages for your company.

A data breach is not limited to your customers but could happen to your employees as well.

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Let’s take a leading company as an example, the corporation leaked employee Social Security data in 2014.

This breach affected customer trust, which took a toll on the company’s brand reputation and loyalty.

If your e-commerce business is not covered by the latest online security measures, it will create expensive lawsuits. These lawsuits can make damage reputation-wise, and monetarily.

You will probably not have the cash to settle these lawsuits, which is why you must have eCommerce business insurance.

DDoS Attacks

Have you seen a rise in traffic to your website? Normally, an increase in traffic is a good thing, but sudden traffic might be a reason for concern.

Distributed Denial of Service, short for DDoS attacks are common to e-commerce businesses, because they conduct a business online, and are very cheap to execute.

DDoS attacks can amount to a big loss in revenue and have costly effects on your e-commerce business.

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To protect losses from DDoS attacks, you need e-commerce cyber attack insurance.

Cyberattack insurance is a considerably new type of insurance, but that is on the rise quickly and for several great reasons.

However, getting the right cyberattack insurance may be a bit confusing, because there is a high number of different types to choose from.

Crisis management is the most common type of cyber attack insurance and protects your eCommerce business from damages resulting from DDoS attacks.

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Product Liability Issues

Even you only sell digital goods, it can cause damage to your consumers. Some good examples of product damage are big companies.

Due to product malfunction, these companies paid millions of dollars in lawsuits, which were covered with some type of e-commerce insurance.

You may think your products are extremely safe but have no knowledge about the damage they can cause to others. Here you can find more information about e-commerce companies in New Jersey.


The damage of fraud for e-commerce businesses is much more today than it used to be many years ago. There are different types of e-commerce fraud including card testing fraud, friendly fraud, account takeover fraud, and much more.

If you have an e-commerce store, you not only must protect your customers from fraud, but you also must protect your business from getting ripped off.

Preventing fraud is tough, given that most times you have no control over how and when it takes place.

When finding the best e-commerce insurance in New Jersey, it is important to commission a company that provides protection against fraud.

Different Types of e-commerce Insurance Coverage in New Jersey

When commissioning the best e-commerce insurance company in New Jersey, you first have to select the type of coverage you need to safeguard your business from damage.

There are several different types of e-commerce insurance policies to choose from, most notably:

General Liability Insurance

The is perhaps the common type of eCommerce insurance coverage available for your e-commerce insurance company in New Jersey.

Whether you operate your online company from your house or leased space, you should get general liability insurance, and here’s why!

With regards to injury, like an e-commerce business owner, it is a good idea to check out e-commerce life insurance plans to shield your family.

General liability insurance safeguards your eCommerce business from third-party bodily injury and property damage claims.

So, if anyone appears at your office, and experiences an injury, then the legal obligations, and potential costs will be paid for by your e-commerce insurance company in New Jersey.

It is a good idea not to mix up e-commerce general liability insurance with your homeowners’ insurance terms.

While some homeowners’ insurance policies may cover your household physical items, they will not protect you from any fraud costs relevant to your e-commerce business.

This is why you need a new e-commerce insurance policy.

Commercial Crimes Insurance

Commercial crimes insurance may be a bit confusing, but to explain briefly shields your e-commerce business from damage generally from crimes committed by your workers or third parties.

These crimes can include robberies, fraudulent transactions, and embezzlement involving your e-commerce business.

Technology Errors & Omissions Insurance

Another type of e-commerce insurance to shield your business insurance is technology errors and omissions insurance.

This type of insurance is a mix of several different kinds of insurances including product liability and cyber insurance.

When you select technology errors and omissions insurance, you protect your e-commerce business from product failure that causes damage to your customer.

How to Choose an E-Commerce Insurance Company in NJ?

There are many factors to think about when choosing the best e-commerce insurance company in New Jersey.

Company Reputation

The e-commerce insurance company you find should have a stellar reputation.

When you’re selecting the best e-commerce insurance company in New Jersey, you need to steer clear of a cheap e-commerce insurance company in New Jersey, because these will not offer the perfect coverage you need.

It is also very necessary to prioritize the coverage over the premiums as this may -cause big financial damage.

Read Your e-commerce Business Insurance Policy

When you do opt for an e-commerce business insurance policy, it is critical that you check the policy including the fine print for any errors.

If you don’t understand any terms in the policy, then it’s wise to seek clarification from your insurance broker before agreeing on the policy. If you do not do this, then you may have problems when you file a claim.

Consider the Deductible

Most e-commerce business insurance companies in NJ ask for a deductible. This is an amount you will have to give in the event you file a claim.

A high deductible may not be cost-efficient for your business, hence it is a good idea to try and negotiate with your insurance provider about bringing down the deductible.

Final Thoughts

Investing in the best e-commerce insurance policy is a great choice for your online business. There are many insurance providers to opt for when shopping for the best insurance provider including cost, reputation, and coverage amount.

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