As a seller utilizing the world’s largest e-commerce marketplace, you are responsible for the products you sell — even if you are not the manufacturer. Product liability insurance protects your business by helping to cover the cost of claims and legal fees if a product you sell on Amazon.com causes bodily harm to a customer or property damage.
Additionally, Amazon imposes insurance requirements on certain third-party sellers in the United States. According to Section 9 of the Amazon Services Business Solutions Agreement, sellers must purchase commercial product liability coverage within 30 days after exceeding US$10,000 in gross proceeds in sales in one month on Amazon.com or if otherwise requested by Amazon.
As product liability insurance is an important safety net for every Amazon seller, regardless of monthly sales, in this article, we explore how the Amazon Insurance Accelerator can help you streamline the process of finding affordable compliant coverage.
What is the Amazon Insurance Accelerator?
Designed with affordability, efficiency, and simplicity in mind, the Amazon Insurance Accelerator provides Amazon sellers with an easily accessible platform for obtaining product liability insurance at competitive rates. By logging into Seller Central, you have instant access to a network of leading small business insurance providers, vetted and curated by Marsh.
With the Amazon Insurance Accelerator, US-based sellers can expeditiously obtain product liability insurance quotes and purchase policies tailored to the unique risks they face, while remaining compliant with Amazon’s requirements.
What are the key benefits of the Amazon Insurance Accelerator?
- One digital insurance marketplace: Equipped with a comprehensive, online insurance network, sellers do not need to spend valuable time researching multiple policies or providers. With the Amazon Insurance Accelerator, sellers can easily obtain quotes from four pre-vetted insurers, including Chubb, Hiscox, Liberty Mutual, and NEXT Insurance.
- Competitive pricing: With multiple affordable insurance providers participating in the online network, you can compare quotes and policy terms side-by-side and make an informed decision based on your e-commerce business needs.
- Simple application process: With a streamlined and straightforward question set, applying for insurance through the Amazon Insurance Accelerator usually takes less than five minutes to complete. Questions can typically be answered with information you already know or have readily available.
- Online purchasing capabilities: Most insurance carriers available through the Amazon Insurance Accelerator may offer the ability to buy coverage online, eliminating the need for a phone call or email, thereby simplifying the purchasing process.
- Amazon-compliant coverage: Not all product liability insurance policies outside the Amazon Insurance Accelerator program meet Amazon's requirements. By purchasing a pre-configured policy that automatically adheres to Amazon’s guidelines, you can mitigate any guesswork and maintain compliance.
- Experienced insurance advisors: As the world’s leading insurance broker and risk advisor, Marsh is uniquely positioned to support third-party sellers and advise them as they lay the groundwork for success in their e-commerce business. If you need assistance or have questions regarding which coverage option is right for your business, our insurance advisors can help—email amazonsellers@marsh.com.
How do I access the Amazon Insurance Accelerator?
To get started finding the right product liability coverage for your business, visit the Business Insurance page within your Seller Central account. Note you must be logged into Seller Central to access this page.
Once on the Business Insurance page, click the Marsh tile to start your application. The application will require you to complete a series of questions about yourself and your business.
For example:
- Where is your business located?
- How long have you been in business?
- What is your annual revenue?
The availability of insurance coverage and the number of insurance providers available to you may vary based on your location and the products you sell on Amazon.com. Before purchasing, compare your coverage options, policy terms, and pricing, and review coverage limits, deductibles, exclusions, and additional benefits.
For questions about which policy is right for your business, email our insurance advisors at amazonsellers@marsh.com.
Note that insurance coverage purchased via the Amazon Insurance Accelerator is provided by the participating carriers, not Marsh or Amazon.
Conclusion
Finding the right product liability insurance policy at the right price — especially for new e-commerce start-ups — can be daunting. The Amazon Insurance Accelerator makes it easy to obtain competitive quotes from a panel of reputable insurers.
With the peace of mind that you have compliant coverage in place, you can focus on growing your business, and be well-poised to handle unexpected legal fees and expenses in the event of a claim related to a product you sell.
If you have questions about product liability insurance, please contact our team at amazonsellers@marsh.com.
