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Hi Everyone,
I'll keep this short and sweet. Over the last year I have been running an Online Auto Parts store. We directly import our parts from USA and sell them in Australia. We have had a solid year to date and things are definitely improving. The time had come to review our insurances and I have found, after reading the insurers PDS, that our Public Liability Insurance does not actually cover any vehicle components that are part of the steering or wheels.
Yes yes yes...I made the mistake not to have thoroughly checked this early in the research stage of starting the business.
I have been in contact with numerous insurance brokers in an attempt to acquire more suitable insurance. At the moment, the only company that will touch us is offering a 12k insurance premium (up from 1.2k) with a lot of the others flat out knocking our business back.
Has anyone else had a similar experience? This is really disheartening considering I have taken a lot of time and effort in finding high quality products for the Australian market and now this has really thrown a spanner in the works. Our business is just a part-time gig at the moment as I still have full-time work.
Not sure if I can add more involved legal wording into my terms and conditions to cover myself?
Any advice would be greatly appreciated.
I'll keep this short and sweet. Over the last year I have been running an Online Auto Parts store. We directly import our parts from USA and sell them in Australia. We have had a solid year to date and things are definitely improving. The time had come to review our insurances and I have found, after reading the insurers PDS, that our Public Liability Insurance does not actually cover any vehicle components that are part of the steering or wheels.
Yes yes yes...I made the mistake not to have thoroughly checked this early in the research stage of starting the business.
I have been in contact with numerous insurance brokers in an attempt to acquire more suitable insurance. At the moment, the only company that will touch us is offering a 12k insurance premium (up from 1.2k) with a lot of the others flat out knocking our business back.
Has anyone else had a similar experience? This is really disheartening considering I have taken a lot of time and effort in finding high quality products for the Australian market and now this has really thrown a spanner in the works. Our business is just a part-time gig at the moment as I still have full-time work.
Not sure if I can add more involved legal wording into my terms and conditions to cover myself?
Any advice would be greatly appreciated.
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