According to Amazon Canada, more than 80,000 Canadian Amazon sellers were using its third-party marketplace to sell goods as of 2021. Most of these third-party sellers are small businesses but tens of thousands are individual sellers who use the platform either as a lucrative side hustle or an integral part of their usual business operations.
Whether you’re an independent Amazon seller or a small business owner that utilizes the site as part of your company’s overall e-commerce strategy, or if you’re on the cusp of launching an Amazon business for the first time, it’s vital to have Amazon sellers insurance to protect your finances and cover your liability risks.
For some sellers, it’s a requirement. Since 2021, Amazon Canada requires all Amazon sellers with Pro Merchant accounts earning $10,000 per month in sales to carry liability insurance with a minimum coverage limit of $1 million per occurrence and in aggregate. Amazon Canada requires its sellers with gross sales of $10,000 per month to carry insurance to limit the financial risks associated with selling goods on their platform that cause third-party bodily injuries or third-party property damages to your customers caused by the items you sell.
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Even if you don’t earn $10,000 monthly in sales on the Amazon Canada marketplace, every Canadian Amazon seller should have business insurance to protect themselves from unexpected accidents or claims against them. A single claim or lawsuit against you could cost you tens of thousands of dollars if you don’t have an Amazon sellers insurance policy.
What Does an Amazon Seller Insurance Policy Include?
An Amazon seller insurance policy for Canadian Amazon sellers typically includes the following coverages:
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General Liability Insurance
Commercial general liability insurance covers your daily operational risks that result in a third party suffering a bodily injury, damage to their property, or accusations against you of defamation, libel, or slander. For example, if a visitor or supplier visiting your business property falls and is injured, general liability insurance may cover their medical expenses and your legal costs if you’re sued.
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Product Liability Insurance
Product liability insurance may be included in a general liability insurance policy, or it can be added if it isn’t. It covers bodily injuries and property damage to your customers or others caused by any product or item you sell on Amazon Canada.
To enhance your protection, add cyber liability insurance to your policy. Cyber liability insurance covers cybersecurity risks involving your technology systems and customer data. It helps you recover quickly if you suffer a data breach or cyber-attack that compromises your customers’ confidential or financial information.
When buying an Amazon sellers insurance policy, you must include Amazon Canada as an additional insured. Doing so protects Amazon Canada via your policy if they are sued for something you did or sold. A Zensurance broker can ensure your policy includes Amazon Canada as an additional insured and answer your questions about it.
Once you’ve purchased your policy, Zensurance will send you your policy documents and a certificate of insurance. A certificate of insurance is a document that proves you are insured. You may need to provide Amazon Canada with a copy of your insurance certificate.
How to Get Low-Cost Amazon Seller Insurance Quickly
Zensurance is Amazon Canada’s preferred liability insurance provider for sellers in Canada. We can get the customized, low-cost Amazon seller insurance policy you need.
Fill out our online application for a free quote in less than five minutes.
Let our experienced team of brokers provide you with the necessary protection you need by shopping our partner network of over 50 Canadian insurers and tailoring the policy to suit your (and Amazon Canada’s) requirements.
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