An e liquid insurance policy vital to your business. If you are planning to open a vape business be sure to explore options by contacting multiple providers. At Calco Vape Insurance, we offer product liability insurance for e cigarette and e liquid insurance to help you operate while the insurer handles all legal claims, should one arise.
Getting an E Liquid Insurance
It is easy to obtain product liability for food products. But it is not the same with e cigarette market. The reason for this is that only a few insurers can write product insurance for vape juices and the electronic cigarette devices/vaporizers. Most insurers will rate a vape shop as a smoke shop. By doing so, they are quietly adding an exclusion for any claims related to the devices or any health injuries.
At CALCO we work with insurers that don’t treat vaping products as tobacco products. Thus, eliminating the exclusion and providing coverage for vaping products!
Should You Get Product Liability Insurance?
If you have an electronic cigarette business, even if it is online, it is vital that you obtain product liability insurance or e liquid insurance. The reason for this is that all parties are responsible for the manufacture, import, distribution, and retail sale of the e liquid and electronic cigarette.
Pricing can vary depending on the level of coverage and claims history. However, the minimum premium for Product Liability coverage for E Liquid and Vape Device Insurance is $5,000 annually.
How Much Liability Insurance Should You Obtain
It varies. Regardless of what your business is doing in sales you can get sued for a small amount or large. Regardless of the amount, you must obtain at least the minimum insurance offered. The vape insurance program limits start from $250,000 Per Claim and $250,000 Aggregate. The aggregate is the sum of all claims combined. Let’s say you had two claims within the policy year. One claim was $150,000 and the other was $100,000 this would max out your policy.
Keep in mind that allegations against e liquids and e cigarettes are almost impossible to defend against. You should discuss your requirements with our insurance professionals at Calco Vape Insurance.
When shopping for an insurance policy for your vaping business, you must remember that if pricing seems to be to good to be true it probably is. Check with your broker about the exclusions and endorsements which may limit coverage.
The e liquid insurance policy from CALCO will protect your business against claims.
To know more about how you can take advantage of an e liquid insurance for your business, call us at (877) 678-0201.