Product Liability Insurance for ebay

dacouch

You don't have to insure your stock as it's generally optional. In your case it's probably not worth covering stock as commercial policies typically have a £250 excess

ArmitageShanks

If you are selling other peoples products they may well have public liability insurance. Particularly if they're UK based.

You only really need PL if your selling a branded product.

We have PL which costs us just under £2000/year


Edit: if I was just starting this would be the last thing on my mind. before spending money like that make sure you have a business that works/justifies it.

mambury

ArmitageShanks wrote: »

If you are selling other peoples products they may well have public liability insurance. Particularly if they're UK based.

You only really need PL if your selling a branded product.

We have PL which costs us just under £2000/year


Edit: if I was just starting this would be the last thing on my mind. before spending money like that make sure you have a business that works/justifies it.

I thought PL was a legal requirement??? I guess the cost of the PL depends on what you sell and where???

dacouch

ArmitageShanks wrote: »

If you are selling other peoples products they may well have public liability insurance. Particularly if they're UK based.

You only really need PL if your selling a branded product.

We have PL which costs us just under £2000/year


Edit: if I was just starting this would be the last thing on my mind. before spending money like that make sure you have a business that works/justifies it.

The way UK Law works is if you sell a product to a consumer their contract is with you. If they are injured etc it will normally be you they sue and then you (Or your Insurers) would then sue the next link eg the wholesaler and they would sue the importer (Or their Insurers would) etc etc.

Having Product Liability should not matter whether you sell a branded or non branded items and if anything there is often a higher chance of a claim against you for non branded items as they are often not as well designed.

To the other poster, Public and Product Liability are not a legal requirement in the UK, the only compulsory Insurances in the UK are Employers Liability if you have employees / labour only subcontractors and Motor Insurance

angelic84

thanks for your responses. think i will leave this until my business has grown substantially (hopefully)!

mambury

dacouch wrote: »

The way UK Law works is if you sell a product to a consumer their contract is with you. If they are injured etc it will normally be you they sue and then you (Or your Insurers) would then sue the next link eg the wholesaler and they would sue the importer (Or their Insurers would) etc etc.

Having Product Liability should not matter whether you sell a branded or non branded items and if anything there is often a higher chance of a claim against you for non branded items as they are often not as well designed.

To the other poster, Public and Product Liability are not a legal requirement in the UK, the only compulsory Insurances in the UK are Employers Liability if you have employees / labour only subcontractors and Motor Insurance

thanks for the reply... due to products that I will be selling (jewellery) I feel I ought to have at the very least a basic PL insurance.....

completelybroke

mambury wrote: »

thanks for the reply... due to products that I will be selling (jewellery) I feel I ought to have at the very least a basic PL insurance.....

Yep, I would rather be safe than sorry too, all you need is someone allergic to it and you find (if you pass on a claim to the manufacturer) that you've missed some small print somewhere on the manufacturer documents about what the jewellry is made from.

dacouch

mambury wrote: »

thanks for the reply... due to products that I will be selling (jewellery) I feel I ought to have at the very least a basic PL insurance.....

Just make sure it includes Product Liability as well as Public Liability.

It will be worth checking if it excludes cover if you export to certain countries, most companies don't like North America and Canada so check the small print.

It is also difficult / very expensive to get cover for piercing ears, so if you ever decide to go into this check out the prices of insurance first.

If possible it is prudent to ask for the details of the Liability Insurance for the company you buy the stock off. (Some policies will insist you inspect their cover once a year and that it has the same amount of cover as your cover)