Wholesalers and distributors have become much more dependent on recent technological advances and equipment in order to boost their productivity along with cutting some of the expenses associated with running a business. The increased use of the Internet to help sell merchandise quickly and efficiently has also created additional losses for these business models as well. This is due in part to the potential for a virus to cause computer networks to crash. Another example of a concern would be, if someone were able to generate an electrical current that causes damage to your material handling equipment, without the right insurance in place you’d likely be out of pocket to cover the expense.
Or, if one of your salespeople had a laptop stolen that had sensitive information stored on it, this could present some major problems. Being connected to the Internet also creates vulnerability to virus attacks, often via e-mail attachments. That is why breaches and cyber theft have become issues that create additional problems for many businesses that choose to operate in this way. The solution is to secure e commerce insurance, which can help to cover costs associated with clearing out the virus, as well as any repairs or replacement to the computer equipment and any additional costs to restore lost data and programming.
Most Online Businesses Benefit from having Breakdown Insurance
Most insurers now offer equipment breakdown coverage for computers, material handling equipment, air conditioners, and phone systems when damaged by mechanical breakdown, or in many cases, by artificially generated electrical currents, sometimes deployed by hackers attempting to infiltrate business networks.
Equipment breakdown coverage provides for property damage, business interruption losses, spoilage and more. It is essential for any business that could not sustain the losses if they were off line for more than a few hours. These are the types of issues that you’ll need to protect against as your site becomes more essential to your business, and are also ones that aren’t usually covered elsewhere.
Remember that backups can fail or possibly get corrupted, plug-ins or themes can break, custom code needs to be constantly maintained, and there’s also the possibility that sites can be hacked. As your potential losses grow, protecting your site against a host of concerns, such as data loss, bugs or conflicts that can take your site down, along with security issues, becomes more important and worth the cost of e commerce insurance.