E-cigarette and vape trade is booming around the globe. According to an industry report published in Cision PR Newswire, the vape market is going to expand at a CAGR of 20.8% this decade to hit the $61.4 billion mark by 2025.
Currently, the United Kingdom is the third biggest vape market in the world. Between 2012 and 2017, the number of vape users in the UK increased by over 314% from 700,000 to 2.9 million.
Vape businesses are flourishing in the UK and around the globe, however the risks and regulations associated with this trade are also increasing.
At IC Insurance Solutions, we fully understand the risks and challenges you face as a vape wholesaler. We are also aware of how difficult it can be for vape sellers to find a comprehensive and economic insurance package that offers the right coverage for their business.
That is why we partnered with the best insurers in the industry to bring you tailor-made vape insurance packages that fit your needs and offer comprehensive protection to your wholesale business.
What is Vape Wholesale Insurance?
Vape wholesale insurance provides comprehensive cover to those involved in the wholesale or distribution of e-cigarettes, vapes, e-liquid, and related products. A comprehensive vape wholesale insurance package can protect your business against any eventuality or unforeseen threat by insuring your business assets, merchandise, and core activities.
Since the vape industry is an emerging sector in the economy, most insurers consider it a ‘high-risk’ category and are reluctant to cover it. This further complicates the process of obtaining a suitable all-round cover for a vape wholesaler.
Whether you are a vape wholesaler who imports vape products into the UK or you just distribute your merchandise, our insurance experts can tailor a vape insurance policy suited to your specific requirements, business operations, and circumstances.
Why You Need Vape Wholesale Insurance?
Stability is great for a business, but some external factors are beyond your control. It is always a proactive approach to consider the risks your business faces and prepare contingency plans accordingly. E-cigarette insurance can help protect your wholesale business against uncertainties.
Here is why going for vape insurance is a great idea:
Cover your imports from China and the Far East
If you are importing liquids, hardware or accessories (including batteries and chargers) from China or the Far East, you would require a special cover against faulty products which may be dangerous or cause harm.
Vape wholesale insurance can protect you against the injuries and harm caused by faulty imported stock.
Bespoke Products Liability
Vape wholesale insurance by IC Insurance will comprehensively cover you against issues arising from hardware, batteries, accessories and other related merchandise.
We offer vape insurance solutions that are designed exclusively for the e-cigarette industry. Our specialists will collaborate with you to tailor a coverage policy that brings you security and peace of mind.
Affordable Risk Mitigation
Opting for vape insurance with IC Insurance Solutions means well-rounded coverage at a market competitive premium.
Goods in Transit
Goods in transit and commercial vehicle insurance provides cover when you transport stock. This cover extends to goods that get stolen whilst in transit and accidental damage of merchandise. Goods in Transit also covers goods that are damaged during the packaging process.
Risk management is a complex process but we’ve got your back at IC Insurance Solutions. Our expert risk managers will first examine all the risks associated with your wholesale enterprise and then formulate solutions, tailored to the requirements of your business.
What is Covered by Vape Wholesaler Insurance?
At IC Insurance Solutions, we offer:
Import Cover for Goods from China and the Far East Asia
Our import cover is insurance cover specifically designed for the e-cigarette industry. An import cover, particularly one obtained for merchandise imported from China or the Far East would protect your business against injuries caused by faulty products, hardware or accessories.
Business Interruption Cover
Business interruption insurance, secures you against loss of income resulting from unforeseeable circumstances such as natural disasters.
Shop Glass and Shop Front Cover
We understand how important your warehouse and outlets are to your business. That is why we offer shop glass and shop front cover.
Shop glass and shop front insurance covers any glass present in your commercial premises as well as any installations, signboards or window decals you may have in your unit.
Full Public and Products Liability Insurance
Unlike other insurers, we believe that products liability insurance and public liability insurance goes hand in hand – even for vape businesses. That is why our insurance packages cover both categories.
Public liability insurance will protect you from any financial claims for injury or damage to third parties caused by the operations of your business. A products liability insurance is more specific; it would secure your e-vape wholesale business against claims of injury or damage caused by products you sell or supply.
About IC Insurance Solutions
IC Insurance Solutions is a vibrant and enthusiastic insurance intermediary with a passionate team comprising of experienced insurance experts and seasoned brokers. We know the market inside out and our strong partnership with insurance providers enables us to provide comprehensive coverage to you at a competitive price.