Mainstream cross-border e-commerce platforms such as Amazon, Wayfair, and Walmart require product liability insurance, product liability insurance, Overstock platform, Home Depot platform, and Lowe’s platform, the top furniture e-commerce platform in the United States with large traffic, need to purchase comprehensive commercial liability insurance. Sellers on the Amazon platform have also received platform requirements for them to purchase at least $1 million in commercial insurance.
The following is a summary of the insurance requirements of major e-commerce platforms.
Amazon’s “US Commercial Liability Insurance”
Amazon’s US site requires that if the monthly income exceeds $10,000, commercial liability insurance must be purchased within 30 days.
Amazon will continue to allow sellers to purchase policies including deductibles, but the deductible of any policy shall not exceed $10,000, and any deductible must be listed on the insurance certificate. In other words, sellers with annual sales of less than $1 million are not allowed to purchase commercial insurance for products without deductibles, but the deductible shall not exceed $10,000.
Wayfair platform entry requires “product liability insurance”
Wayfair is a leading home furniture retail brand in Europe and the United States. The platform has the responsibility and obligation to meet the requirements of the national sales market.
Wayfair platform needs to purchase commercial insurance when entering. Product liability insurance can guarantee that the products sold by Wayfair meet the minimum legal requirements of the sales area (North America/Europe)
Overstock platform, Home Depot platform, and Lowe’s platform, which are the top furniture e-commerce platforms with large traffic in the United States, need to purchase product liability insurance.
The insurance requirements of each platform are as follows:
Amazon: The insurance amount is US$1 million, with a maximum cumulative amount of US$2 million, and the insurance amount is US$1 million, and Amazon is listed as the insured;
wayfair: The insurance amount is US$1 million, with a maximum cumulative amount of US$2 million, and the insurance amount is US$1 million, and Wayfari is listed as the insured;
Overstock: The insurance amount is US$2 million-4 million, depending on the product allocation insurance amount, and the insurance amount is allocated to the product, and Overstock is listed as the insured;
Homedepot: The insurance amount is US$2 million-10 million, depending on the product allocation insurance amount, and the insurance amount is allocated to the product, and Homedepot is listed as the insured;
Lowe’s: The insurance amount is US$2 million-10 million, depending on the product allocation insurance amount, and the insurance amount is allocated to the product, and Lowe’s is listed as the insured.