Protect Your Online Sales
Protect Your Online Sales

Q & A

I am new in business

We understand and you may still be eligible for coverage depending on our underwriting questions.

 

What if I have had a past inquiry or suspension?

You may still qualify for coverage depending on the answers to the underwriting questions we ask in the application process. 

 

Am I covered for more than one suspension?

Yes, provided you are not suspended for the exact same reason AND you have not exceeded 90 days in the policy period.

 

How long is coverage valid for?

The policy period is an annual period of time, however, the policy will only pay up to a total of 90 days in the policy period.

 

How will I know what time period must pass before coverage is available?

Depending on certain underwriting criteria, the policy will either be issued with a franchise deductible or a standard waiting period and the policy will state the specific amount of time that must pass.

 

What is the difference between a franchise deductible and a standard waiting period?

A franchise deductible states the total number of days your sellers account must suspended.  Once that period of time is exceed and there is coverage, then the insurer will pay the per day limit of coverage for the entire period of time your sellers account was suspended up to 90 days.

 

A waiting period states the total number of days your sellers account is must be suspended.  Once that period of time is exceeded and there is coverage, then the insurer will pay the per day limit of coverage only for the number of days the account remained suspended after the time period was exceeded and only up to 90 days.

 

Can I use my own professional expert/consultant in the event my account is suspended?

Yes and we will also provide recommendations if you are not sure who you should hire.

 

Can I purchase coverage if I am outside the United States of America?

You must have a USA business entity and appropriate licenses to conduct business in the USA.  We will be launching our program in additional countries in the upcoming months.

 

Who actually is the security of my coverage through and who will pay for my covered claim?

Insurance is secured with a tried and trusted AM Best A rated carrier.

 

Will you cover the cost for me to hire professional expert/consultant in the event my account is suspended?

For a covered loss, we will pay up to $500.00 directly to the person or company hired.

 

How will my coverage limit be determined?

The limit of coverage will be determined by us based on the answers to the underwriting questions we ask of you during the application process.

 

How is the per day limit chosen?

Depending on the overall coverage limit you qualify for, that limit will be divided by 90 days to determine the coverage per day limit.    

 

Is my policy auditable?

Yes, we will ask you for your gross annual sales for three specific categories at the end of each policy period and before you will be eligible to renew your policy.   It is imperative to be truthful when informing us of your annual gross sales at the time of application.  If you underestimate you will have a balance due to us that must be paid to us within 30 days of expiration of your policy or before we will renew your coverage.

If you overestimate your annual gross sales, then we will refund the appropriate amount of premium back to you within 30 days of the expiration of your policy provided your policy was not issued at our mandatory minimum policy premium.

 

What if I have more than one online storefront?

If you operate more than one storefront under different names, you will need to purchase a policy for each business entity you operate.

 

Does this policy provide any other coverages or benefits?

No.  The only coverage provided under this policy is your potential loss of business income and extra expense provided your online sellers account is suspended and it is a covered loss.

 

Please show me an example of a coverage loss and how the policy would pay me

 

A POLICY ISSUED WITH A FRANCHISE DEDUCTIBLE

You qualify for a policy with an annual policy limit of $1,000,000

You are eligible to receive up to $11,111 for each day you are suspended for a cover loss

The effective date of coverage is March 15, 2017 and expires on March 15, 2018

Your policy is issued with a franchise deductible

The franchise deductible is 120 hours

You have received a suspension notice from the online vendor

Your account is suspended for 15 days

 

The policy will pay you up to $11,111 for the entire 15 days of your account being suspended or up to a total sum of $166,665.

 

A POLICY ISSUED WITH A WAITING PERIOD

You qualify for a policy with an annual policy limit of $1,000,000

You are eligible to receive up to $11,111 for each day you are suspended for a cover loss

The effective date of coverage is March 15, 2017 and expires on March 15, 2018

Your policy is issued with a standard waiting period

The waiting period is 120 hours

You have received a suspension notice from the online vendor

Your account is suspended for 15 days

 

The policy will pay you up to $11,111 for 10 days of your account being suspended or up to a total sum of $111,110.

The policy will not go back to your first day of suspension because the policy was issued with a waiting period.  Therefore, the policy will only start to respond after the 120 hour waiting period.

 

How do I determine what my per day loss is

You need to determine what your net income (net profit or loss before income taxes) that would have been earned or incurred and what your continually normal operating expenses incurred are including payroll.

You will be supplied a worksheet in the event of a claim to help you to determine what your actual loss is.

All Amazon Inquiries: Contact  800-965-5580

 

InsuraTech Inquiries:

CONTACT US:

info@InsuraTech.net

1-855-504-TECH



Or use our contact form

 

Nathan Garrett

Program Manager

nathan@insuratech.net

 

Marc Graber

Sales Manager

marc@insuratech.net

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