There literally is online insurance for anything these days and it should come as no surprise that you can actually find a few rare insurance companies that offer website insurance which can also include e-commerce insurance, cyber liability insurance, and more. Basically there are ways to insure your online business to help protect assets, in the event of hacking, outages, legal liability for IP infringement, data protection, defamation…etc.
Now your typical online marketing or affiliate marketing website may not think a need for such insurance is necessary, but if your site generates a certain revenue and you don’t have proper support staff, could you handle a hack or outage, a loss of data, customer information being stolen and distributed and deal with the repercussions? Cyber insurance is becoming more common to protect ones online livelihood and honestly I didn’t even know such insurance policies existed until very recently.
The only online insurance I have ever looked into was how to buy insurance online for my home, car or buying my life insurance online which I have actually done all three of them at some point in the past several years and most are from different companies. I would think website insurance applies more to companies or individuals who have their own marketable product or information services to sell and therefore have IP to protect, and doesn’t apply to casual online blogs and market places. Not even an Amazon Affiliate I would think would have very much need unless it was a huge affiliate portal and you could quantify paying for insurance to cover any website hacks or loss that could occur.
It is however something you should think about, I think after you have an online business and it reaches a certain revenue point that is fairly stable you may consider if there is a way to insure it and if it is worth it to cover potential disasters and help minimize financial risk or provide some recovery.
As it is, I never could stand taking the time to search for insurance as I know it can be a multi-hour ordeal filling out online forms, waiting for callback from an agent or getting quotes instantly but checking online quotes from more than one site to make sure you got the best deal, reading reviews of all the sites…etc.