When opening your marketplace for sale or renting between individuals, having insurance is essential to cover yourself and your customers in case of problems. Actually, insurance is also essential to maintain the trust of your marketplace community.
To properly manage the transactions made on your peer-to-peer marketplace, you will need to rely on good insurance. What are the mistakes to avoid and what type of insurance is needed? Let's have an overview about the issues you may confront with peer to peer transactions and what kind of insurance you need to avoid those risks on your marketplace.
Why offering insurance on my marketplace?
It's all about trust
Having insurance for your marketplace is an essential point not to neglect to prevent small and big problems. Insurance can help you in the bad passes that could be fatal to your business and at the same time is a great way for you to build the trust of your community on your matching platform.
By ensuring transactions and problems related to exchanges between your users, you ensure your role as " trusted third party ".
So take care to select an insurance adapted from the start to the typology of your marketplace, in order to be more attractive for your sellers or renters and on the other hand prevent any unpleasant surprises in case of dispute.
As a marketplace selling or renting goods between individuals you will face several threats, and some may cost you a lot of money if they are not well managed.
Responsibility for sales
What can be problematic is, first and foremost, that we are responsible for what others sell in our marketplace. Even if you pay close attention to selecting sellers and choosing quality products, an accident can happen. If a customer is dissatisfied and has been harmed by a purchase made on your platform, your website will be continued and possibly you too.
If your marketplace looks a bit too much like another online sales site, you may be sued for copyright infringement. Try to stand out by taking inspiration from multiple sites, but strive not to copy identically. This goes for the layout but also for the texts and the product sheets.
Piracy and theft of data
France is the second most vulnerable country to piracy on the internet. In addition to harming your site, it can also result in theft of confidential data, which has affected the privacy of your customers or their bank account. After hacking, it's not easy to stay credible with your customers and promise that it will not happen again! If your site is hacked and information is stolen, it can cost you a fortune. It will be necessary to inform all the customers and also regain their confidence ... as well as that of the salesmen!
What if the goods are lost?
It can happen that a package is lost and that the goods never arrive. Although this can not generate huge losses because it is about one-time threats, it is better to take insurance for transportation to get a refund for each lost package.
What type of insurance to choose?
In the best case, you will opt for a professional civil insurance to cover you at the level of the products on sale in your marketplace. But that's not all: it is better to protect yourself as much as possible and also opt for legal protection insurance, to manage a maximum of threats.
How to choose your insurance?
Insurance Comparison Websites
You can use an insurance comparator to be sure to choose the one that best suits your activity. Do not hesitate to call insurance advisors for more details and do not rush to make your choice.
Make sure to take into account the reputation of the insurance to which you turn. You can search for customer reviews before you start.
Deadlines for taking charge
Ask about their response and reimbursement time. This is the potential survival of your business, if the delays are too long, you incur huge losses. For a small marketplace that starts, and even for a confirmed platform, it is better to bet on insurance that is reactive and ensures you pay back very quickly.
Focus on specialized insurance for marketplaces and rental platforms between individuals
There are four main types of marketplaces: transport, space, goods, and services. Depending on what is sold on the platform, insurance can cover you more or less well. To each insurance his specialty.