Selling on Amazon? Get Canadian Amazon Retailer insurance aligned with us!
Amazon sellers know that Canadians are buying online from Canadian businesses in record numbers. According to a late 2020 Amazon report about small and medium businesses,”30,000 Canada-based third-party sellers from all 13 provinces and territories – many of which are small and medium-sized businesses – grossed more than $1 billion on Amazon.ca in 2019, growing 40% year-over-year, and more than in $2 billion on Amazon’s stores around the world.”1
Fuelled by pent-up consumer demand and pandemic-related pivots, Canadian small and medium businesses are making the most of online selling opportunities with Amazon. According to the 2020 Amazon Canada SMB Impact Report:
- “Canadian SMBs sold more than 60 million products in Amazon’s stores, up from 35 million year-over-year.
- On average, Canadian SMBs sell more than 110 products a minute in Amazon’s stores.
- Canadian SMBs had an average of $110,000 in sales – up year-over-year from about $65,000.
- The number of Canadian SMBs that surpassed $1 million in sales grew by more than 80% year-over-year.”2
If you are selling on Amazon and other e-commerce platforms, you’ve landed on the right page. Hundreds of Amazon sellers choose ALIGNED because we’re one of Canada’s leading insurance brokerages. We are also employee owned, fiercely independent and we work with 65+ top insurance companies all of which are federally regulated and carry a S&P A- &/or AM Best A- or better financial rating. Our Ontario, Alberta and BC licensed business insurance experts are here to help!
Exclusive products and pricing for Amazon Retailers that’s guaranteed to meet insurance requirements
Thanks to our negotiating skills, relationships & significant volume, we have insurance products and pricing that is exclusive to ALIGNED and is 100% guaranteed to satisfy Amazon’s rigid insurance requirements. Whether you sell books, e-bikes, sports equipment or pretty much anything/everything in between, we can get you insured!
Don’t be misled by coverage that doesn’t meet the Amazon Seller Insurance Canada requirements…
Unfortunately, we’re hearing that some American players are encouraging Canadian businesses to purchase a U.S. Employer Identification Number (EIN) and a U.S. mailing address in order to secure “cheap” Amazon seller insurance. U.S. insurance products are not licensed in Canada. Misrepresentation puts Canadian business owners at serious risk. Here’s why…
1. CRA requires that you must pay Canadian taxes on the purchase of any unlicensed insurance product. As a result, Canadian individuals and companies are required to report and register the purchase of unlicensed insurance to the CRA. If you are considering purchasing an unlicensed U.S. insurance product, speak with the CRA or a CPA first as failing to pay taxes is effectively considered tax evasion.
2. American insurance companies and agents are highly regulated and licensed on a state-by-state basis. Legislation and insurance company contracts require state-licensed agents and brokers to only work with individuals and companies within their state. This means that selling insurance to individuals or companies based elsewhere – such as Canada – can result in insurer contracts being cancelled &/or claims being denied for misrepresentation.
3. Getting an insurance claim &/or legal expenses paid is complex and highly regulated. If after considering all things you still want to explore U.S. based insurance, please at least make sure you contact the insurance company’s underwriter and claims department. Request written confirmation of their specific policies, procedures and process for defending a Canadian company or individual that purchases an EIN and US address solely for the purpose of securing cheaper insurance…
Sell using Amazon, Wayfair, eBay, Shopify, Etsy or another online retail platform? You need e-commerce insurance. When you need online retailer liability insurance coverage we’re ready to help. Now more than ever, e-commerce is essential. You’ve built an online business and new insurance requirements can be frustrating. Despite the pain of needing to buy coverage to continue selling on Amazon &/or other platforms, your business still needs the best protection. This is why we’re proud to deliver coverage that’s 100% guaranteed to align with Amazon’s strict insurance requirements. Get proper protection for your business and livelihood. Contact a fully licensed ALIGNED business insurance broker now to get Amazon online retailer coverage that you can rely on.
Source(s) 1,2 Amazon.com/Press