Amazon Insurance March 2024

Under section 8 of the Amazon Services Business Solutions Agreement, you must obtain and maintain commercial liability insurance within 30 days after your gross proceeds from your transactions exceed the following applicable insurance threshold: Four thousand British Pounds (£4,000) (if the Amazon Site is the UK Amazon Site) during any month (or if otherwise requested by Amazon) and add Amazon as additional insured.

Why do I need Insurance if I sell on Amazon?

It used to be that you only needed Liability insurances if you sold into the USA from the UK and had gross sales above $10,000 – things have changed and as from March 2024 they are requiring all sellers with sales exceeding £4000 per month for 3 consecutive months irrespective of where in the world you sell to obtain Public and Products Liability for a minimum of £400,000.

Why is it hard to find insurers for Amazon Sellers?

There are several reasons:

Amazon require you to include them as an Additional Insured on the policy
Most insurers will not allow this as it opens their potential liability up further then they would like, Konsileo insurers will, however, do this.
The origin of some products puts insurers off.
So much of the products come from Asia and the Far East where Quality Control may be an issue, this could be an issue for insurers claiming from manufacturers in these counties should an issue arise with the product and a claim occurs.
Sales to the USA.
Being a litigious country, the USA has significant issues with the size of a potential claim so many insurers will cap the percentage of USA sales to 25% of turnover, however, Konsileo insurers will offer 100% USA sales

With a wealth of experience with online retailers, our Amazon Insurance team are well placed to support and offer you insurance terms to meet amazon requirements.

What Do Konsileo Offer Amazon Sellers?

We strongly suggest you speak with a member of our Amazon team to ensure all your liability are addressed. At Konsileo, we offer (but not limited to).

Levels of cover from £1.000.000 upwards although we recommend a minimum level of cover of £2,000,000.
Additional Insured including Amazon as per Amazon requirement.
Claims Occurrence coverage.
Knowledgeable advisors that understand your online business.
USA exports up to 100% of Turnover
Goods in Transit from anywhere to and from the UK.
Cover for Stock at warehouses.
Ability to cover other insurances such as Employers Liability, Property, Marine
Insurers 100% acceptable to Amazon.

Whether you are UK sales, US and Canada sales or Worldwide sales, we can help.

Call our online retailer specialists today.