How do I get affordable insurance for my situation? Do I even need it?
I am an online cloth menstrual pad maker and seller that currently ships around the UK and Europe (this is what my insurance covers me for).
We would like to ship all around the world. The business is new and we really do not have the funds to pay higher insurance rates when it is highly unlikely someone would ever claim. We currently pay £54 per year and have been told that they will not cover us for the rest of the world.
On contacting alternative insurance companies, they told us they will not insure as at all since some of our materials are shipped in from china (nothing dangerous, literally just fabric and haberdashery which we use to make products). This does not make sense to me as we check everything properly before shipping anyway and our current insurer had a question asking if we checked everything even though the components might be from china, I ticked yes and everything was fine.
The issue is, we cannot be paying £££s for insurance for global cover as the £54 is calculated into our goals to do with money and going over that would put us out of business after the second year. If there are no suitable insurers for us, would it cover us to put a disclaimer on the website saying that we are not liable for anything at all (and I mean anything)?
I know it doesn’t look brilliant but its rare to find a cloth pad seller who even does have insurance if they make by hand. Thanks in advance.