Jet.com is a newer marketplace on the scene, targeting urban millennials looking for affordable, high quality products. The marketplace, which was purchased by Walmart in 2016, now provides access to millions of customers, with relatively little competition compared to sites like Amazon. With no registration fees and plenty of integrations, it’s easy for new sellers to get started on Jet. However, there are a few things you’ll need to have ready to go before you begin, including insurance. In this article, we’ll go over the insurance that Jet requires, what it covers, and how to get a certificate of insurance that meets your Jet insurance requirements quickly.
Jet Insurance Requirements
Unlike most marketplaces, Jet doesn’t require you to provide a certificate of insurance during the sign up process. They do, however, require you to “Maintain reasonable levels of insurance relating to you or your products, as determined by Jet.” Basically, this means that once you’ve listed your products, Jet can contact you requesting a certificate of insurance before you’ll be able to actually sell anything. The best way to avoid lag time is to be prepared on the front end, so you have your certificate of insurance ready to go when they ask for it.
General Liability: $1M / $2M
It’s rare that a marketplace doesn’t explicitly state how much insurance they’ll require you to buy. However, based on the average insurance requirements for other top marketplaces (like Amazon, Newegg, Walmart, Target+ and Wayfair), this policy should have everything you need.
General Liability covers third party injury and property damage. It will be important to ensure that your policy includes Product Liability as well, so that it covers any damage that your products cause. For example, if a customer is injured because the chair you sold them collapsed, General + Product liability would cover the damages. Tell your agent that you need product liability included, or purchase a pre-built Jet Sellers’ Policy which will have it built in.
An additional insured endorsement means that your policy will extend coverage to Jet as well. For example, if the customer with the broken chair from before sued Jet rather than you, your insurance would help cover the lawsuit.
Additional insured language has to exactly match your contract requirements. Make sure that your Certificate of insurance says “Jet and its assignees are listed as additional insureds,” or they may request a new one, which will delay your sales even further. Or, you can purchase a Jet Sellers’ Policy, which has all of the correct language pre-built in.
Where do I Get it?
The best way to know you have a certificate of insurance that meets Jet’s requirements is to purchase a pre-built Jet Sellers’ Policy.
Because Jet won’t necessarily tell you what you need until you’ve already listed your products, it’s important to have a COI that you can update quickly and easily. Bunker’s team of licensed insurance advisors works with sellers on Amazon, Target, Wayfair, Walmart, and more. If you ever need to update your coverage, we’re here for you! Reach out to firstname.lastname@example.org, give us a call at (877) 968-9108, or Live Chat at buildbunker.com.
If you already have an agent you enjoy working with, be specific about your business and your requirements. Here’s an example of what to say to an agent:
“I am selling finished goods online at Jet.com. I need a general liability policy including product liability, with a per-occurrence limit of $1M and a double aggregate. Part of my requirement is that my certificate lists Jet and its assignees as additional insureds.”
To get a quote as quickly as possible, prepare to answer the following questions:
- Do you private label or manufacture your own goods?
- Are any of your items imported from out of the country?
- Do you have a physical location?
Selling on Multiple Marketplaces?
Learn what other top marketplaces require their sellers to have: