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Amazon Seller Product Liability Insurance
Posted by Bizistech Team

AMAZON SELLER PRODUCT LIABILITY INSURANCE:

Tips 0

Amazon has become the top e-commerce platform with 300+ million people worldwide that 57% of people now use Amazon as the most trusted platform for online shopping, which makes it the world’s largest trading platform. With this increasing traffic, the chance of getting claims is also higher If you are selling on Amazon, you have to treat it like other businesses protect it with proper insurance from liability claims.

What is Product Liability insurance?

Liability insurance, also called third-party insurance, is a set of systems that protects against claims resulting from injuries and damage to people or property. Liability insurance covers any legal costs and payouts for which the insured party would be found liable, but it will only pay to the third party or insured party, not the policyholders.

Why do you need Product Liability insurance to sell on amazon?

In any business, there is always a risk that your business may face unexpected problems. When most of the sellers started their amazon business, they didn’t know how to protect their business from unforeseen circumstances; therefore, many people claim amazon for sending faulty products. Without proper insurance, the claims would be costly.

The Product Liability insurance protects you and your business from these obligations because there is a possibility that you could have a defective or damaged product. The insurance will cover any financial loss if the insured party is found legally liable.

For example: if the buyer buys the set of solar eclipse glasses and claims that the glasses did not protect their eyes from the solar eclipse and thus ruined their vision.

As a seller of the product, you would think how possible the glasses could harm the people, so with amazon liability insurance, you could protect your business from these risks of liability and ligation.

LLC for more Protection:

A limited liability company (LCC) is a business structure that protects its owners or investors from personal liability claims. Anyone can be a member, including individuals, corporations, foreigners, and even other LLCs.

So, if your business is set up as a partnership and not an LLC, then if someone sues your company, they can sue your assets as well. Make sure to set up your amazon business as LLC for additional protection.

Will Amazon cover any claims?

Yes, the amazon new insurance policy that will cover claims under $1000 till now amazon has resolved 80% of the claims under $1000.
In case of any legal liability, amazon will check and resolve the issue without affecting your order defect rate and will keep you informed at every step.

Is amazon offers insurance to all of its retailers?

No, Amazon does not provide insurance to all of its retailers because they are some bogus sellers in the market. Amazon has some criteria for sellers to obtain product liability insurance once they fulfill all the requirements.

Under section 9 of the Amazon Service Business Solution Agreement, the seller should have a gross sale of $10,000 within 30 days or more to carry insurance. The insurance will cover all your products you list for sale on Amazon for $1,000 or less with no penalty to sellers. 

Where to get Liability insurance, and how does it cost?

Getting liability insurance is as simple as you contacting a local insurance company. Today there are hundreds of websites and insurance companies are available. You can easily give them a call or visit their websites and ask them about commercial general liability insurance/ general liability insurance or product liability insurance.

Amazon Insurance Accelerator: Amazon has launched an amazon insurance accelerator for sellers to easily find the most suitable and affordable liability insurance for their businesses.

Many corporations and startup company’s partnerships with accelerators to get easy access by such a huge population. It can give you quotes from multiple insurance companies, so it can be used to find the best prices with maximum coverage. You need to provide vital information about your business.

Insurance companies specifically for Amazon sellers:

Some best insurance companies that work specifically with amazon that gives you the maximum insurance coverage are

  • Well Insurance.
  • Next insurance.
  • Bunker Insurance.
  • Marsh.
  • Insureon Insurance.

You need to fill the application form that requires your details such as your business name, its operations, plus history, annual revenue, business partners, history of insurance, and any prior claims. You will be asked if you or any business partners have been convicted of a felony.

Certificate of Insurance (COI):

The certificate of insurance or COI is issued by an insurance company that verifies the person’s insurance.

Certificates of insurance contain separate sections for different types of liability coverage. After getting insurance you need to upload an insurance certificate on seller central

Conclusion:

As you can see, getting insurance for your Amazon business isn’t as difficult as you might think plus, it will protect you and your business from obligations.

In other words, have peace of mind so you can focus on growing your business!

“It is better to have it and not need it than to need it and not have it.”

If you have any other questions regarding Amazon product liability insurance, please leave a comment below!

Amazon Vine program
Posted by Bizistech Team

Amazon Vine Program

Tips 1

Product reviews play a crucial role when we are talking about the Amazon business as they help in generating more sales and boosting rank. So, there is always a need to have a process that can encourage your customers to leave a review after every purchase. It is quite possible that you have a slow-moving product. In this situation, the amazon vine program has got you covered.

Amazon Vine is basically a customer review program in which Amazon reviewers or Vine Voices are selected based on their review rank. This rank is usually assigned on the basis of benefit, quality, and quantity of their reviews to other Amazon customers.

Amazon has launched this program in order to provide unbiased and honest reviews to customers. Customers receive free products in exchange of reviews.

Vine Voices are not paid to provide reviews instead they will just collect a free product. All of the vine products are submitted by vendors to Amazon which are then distributed by Amazon to the selected customers. Vendors will have no control over what voices will review their products. Either it can be negative or positive.

How it works:

Once you enrolled in this program, one of the vine voices can request to review your product. In exchange of your product, you will get a review.

Well, one thing that you should keep in your mind is that there is no guarantee that you will receive a positive review. It depends on your product and the reputation of the product in the customer’s mind.

How to enroll in Amazon Vine program:

Currently, it is accessible by third-party sellers as well and costs no fee. All you have to bear is the cost of the product provided for review. Given below are some requirements that you must fulfill in order to register for this program.

  • You must be a brand registered seller on Amazon.
  • You must provide each product for free for which you want review.
  • Must contain less than 30 reviews on your listing.
  • Your product should not fall under the “adult” products.
  • The product must be FBA in new condition.
  • It must be launched when you are about to enroll for the vine program.
  • Must contain available inventory.
  • Must add image and description to your listings.

Enrollment Steps:

  • From your seller central account go to Vine under advertising tab.
  • You will see “enroll in amazon vine” button.
  • Then you will be asked to provide your ASIN, after that tap on enrollment.

After that you need to send your product to amazon which will be forwarded to customers. Currently, Amazon allow users to register up to 5 ASINs at a time. It hardly takes 4 to 8 weeks to receive a review from voices. This is because they need some time to evaluate your product.

Pros and Cons of Vine Program:

Pros:

  • You can receive almost 30 reviews.
  • As vine voice are selected by Amazon so they surely provide through, detailed, and oriented reviews.
  • Voice notifies about every aspect of the product.
  • It is totally free; no enrollment charges.
  • Having positive reviews; if received, about your products you will surely have more sales and revenue.

Cons:

  • There is no guarantee that you will receive positive reviews every time.
  • You can only enroll to this program if your brand is registered.

At a time, only 5 products can be enrolled in this program.

How amazon feedback request template works
Posted by Bizistech Team

How amazon feedback request template works

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Some buyers on Amazon simply buy from the first seller that they come across while searching without checking the feedback and review. On the other hand, most of the regular buyers give considerable importance to the feedbacks. These types of buyers pleasantly provide comments and feedback too.

Need of feedback rating:

To gain the trust of customers, high amazon feedback is a must-have thing. The feedback is an indication to customers that you are selling high-quality and top-notch products on Amazon. 

Luckily, Amazon enables the seller to request feedback from buyers. However, before requesting make sure that you are using the approved method. All you have to do is to follow these below mentioned simple steps

  • Using an Amazon system send an email to the buyer. Provide the “Feedback request” title as a subject.
  • On the packaging slip mention to a buyer that you are requesting their feedback.

Along with-it Amazon also provides the template to request feedback from the buyer. However, writing your own feedback request is highly recommended. This is because it is better to use your own convincing words instead of the same repetitive words. One important thing is that you should wait at least 5 days after sending a feedback request email to customers.

Amazon Feedback request templates:

Template 1:

When to send this email: It is right to

send it when the order is confirmed for delivery. We can say it is 2

days before when the buyer receives the order. 

Hi {{Buyer First Name}},

I am {{Seller Name}} from {{Seller Brand}}. Thank you for choosing {{Product name}}. We have tried our best to ensure that our product meets your expectations. 

We want to let you know. There are different ways through which you can utilize our product. I have attached the file {{File name}} that contains creative ideas about using the product. 

This file will help you in getting the most out of the product. Meanwhile, you can track your order using this link {{Order link}}.

We will follow up with you shortly to ensure that everything is going smoothly with our product; if you have any concerns and queries, please contact us.

 {{Contact Link}}

Sincerely,

{{Brand Name}}

Template 2:

When to send this email: If the buyer has a problem with your product, it is better first to contact them directly and try to fix it. By doing so, you can avoid the negative feedback the buyer leaves when they receive the product. 

Hi {{Buyer First Name}},

This is {{Seller Name}}, Thank you for choosing {{Brand Name}}. We want to check if everything is OK with your order.

We want to clarify that you are 100% satisfied with our product. If you have any issue or problem-related to it, you can directly contact us, we will respond to you as soon as possible. We highly recommend doing this before leaving Amazon feedback as it can immediately solve most of its issues. 

If you are happy with our product, please leave a review for us. We will be grateful. 

Regards,

{{Brand Name}}

Template 3: 

When to send this email: Customizing your template can cause a positive impact on the buyer, which ultimately leads to positive feedback. Ask this feedback from buyers after they have received the product.

Hi {{Brand Name}},

Thank you for purchasing our brand {{Brand Name}}. I hope everything is according to your exact requirements. We will be thankful if you can spare some time and provide us feedback about your buying experience. Did the product arrive on time? Is it how what you have expected? 

This feedback will aid in my growth and improvement. It will also help another buyer to get information about the product that I am selling. 

Thank you for your order. We hope you will shop again.

Warm regards,

{{Brand name}}

Conclusion:

We hope these templates provide you enough idea that you can easily create your template and save the templates featured here.