Amazon Insurance Seller Questions and Answers Collection
Q: I would like to ask if there are requirements listed in the Amazon notification email:
Need to include all products sold through amazon.com. We sell car interiors and accessories in our shop. Is it all about auto parts? Or can there be other ways to reflect this on the policy?
A: The name and model of all products must be listed when applying for insurance. Product list documents can be provided if there are many categories.
Q: What I want to focus on at the moment is that Amazon's latest insurance, for example: Amazon recognized high-quality (lower price 1,000 dollars or even lower) insurance company
A: The three recommended by the platform are AIG, Shidai and Anda. Now some seller friends have provided Ping An insurance certificate, and they are waiting for the platform to reply.
Q: Are insurance costs an added cost to the seller?
A: It is to reduce the seller's risk and transfer the subsequent series of responsibilities caused by the product to the insurance company.
Q: How is the standard for product insurance divided? For example, is the risk of electrical equipment higher, so the premium is higher?
A: Each insurance company has a risk level of 1-9 for different products. The charged product is generally assessed by insurance companies as level 6 risk. The insurance rate will be higher than that of clothing. Each insurance company has a risk on the product. Ratings will vary, so it is recommended to ask more than three insurance companies for quotations.
Q: Will the insurance company review the product before underwriting it?
A: Yes, so you need to provide the product list and certification materials (if any). Some product insurance companies refuse to insure. The specific results are subject to the underwriting results of each insurance company.
Q: Is there a simple way for us to first estimate how much insurance premiums our stores need to pay?
A: According to estimated sales, low-risk (1-3) products within 1 million US dollars are generally the lowest premium of each insurance company, such as Shidai’s 500 US dollars and Ping An’s 1,000 US dollars.
Q: Before purchasing insurance, what materials do we need to prepare in advance? How long does the entire insurance purchase process take?
A: You need to prepare a business license and a list of your company's products, product certification information (if any), the quotation can be issued by the Chinese company on the same day, and the foreign company is estimated to take 1-3 working days. The sellers who recently inquired are mostly a factor ; After confirming the quotation, you can get the electronic insurance certificate within 1 working day after transferring the premium, and you can reply to the platform email for verification; the paper insurance contract and invoice can be received within 3-5 working days.
Q: Hello, what aspects need to be included in the insurance agreement to be complete and beneficial to our sellers?
A: There are several important points to pay attention to: 1. Whether the information such as the name and address of the insured is correct; 2. Whether the insurance policy is accident-based; 3. Insurance limit, single accident limit and cumulative compensation limit; 4. Deductible for each accident amount;
Q: How to buy insurance in a personal store? Also received the mail
A: First make sure that Shidai and Anda will not accept personal insurance, and Ping An can insure.
Q: Amazon registered account is a company, that is, our American company, domestic companies have not registered, and the Amazon account registered by American companies, how should I purchase insurance?
A: It is not possible to use a U.S. company to insure directly. You must use a Chinese company as the insured, and the additional U.S. company is the insured. The policy holder refers to one of the [insured or insured].
Q: Is the domestic company a production and manufacturer?
A: If yes
Insured: Chinese company
Additional insured: American company, Amazon
If you buy in the United States, the products they sell have problems due to production or manufacturing, and the American insurance policy is not covered. Chinese manufacturers have to bear the responsibility for compensation.