I work in the industry, and a large part of my business has to do with e-cigarette companies.
I would recommend getting multiple quotes including the full specimen form to review. There are many companies promising big things and they cannot back them up.
Just because an agency/website has 'ecig' in their name does not mean they are the best option, and commercial insurance has a fair bit more nuance than your standard home or auto.
Thanks for sharing this info!
P.S. Get $1m/$2m limits!
Curious what markets are targeting this? Only market I have found is Lloyds.
I'm in the biz also and currently working on developing another carrier.
The markets are out there - even a few BOPs writing shops w/ liquid mixed on site.
Most of the stuff is in the E&S marketplace but I expect admitted products to come out in 2-3 years.
We run a sizable book of it right now, so any more details and i would have to get a premium commitment out of you.
The only reason I have even sent a down payment to these guys is because they were the only ones I can get a hold of. Everyone else has said they will call me back and never have. Some make you bend over backwards like their application was 6 pages of pure questions only to get a quote. Which I am still waiting on. I called I guess Lloyds and was speaking to an agent within 2 minutes.
Now, yes talking to sales and to them actually doing a claim is apples and oranges but why do others make you jump through so many hoops. I had to do less paperwork for my 200,000 dollar 5 axis cnc machine from Haas. Okay, not really but trying to make a point.
I would love to know what other companies people are using and if they have a direct contact to these companies where I could talk to an agent and get a quote.
$400-$800/month.
Sell 400 bottles of eliquid and you lose $1 each only.
Very true.. And if your buying in bulk(like you should be doing) you should be making bottles for less the 4 dollars. If you sell 15ml at $10 and 30 at $20 then you'll still be making alot.
$20 is pretty high for 30ml these days. Unless you're marketing as a "premium" line and have the results to back it up, it's going to be rough. Even if you do market as premium, you're going to have a huge reduction in buyers unless you get ridiculously lucky.
There are a ton of juice companies that range between $6.50 and $10 for 30ml. If you can't put out a better product than them, you may be in trouble.
If you're setting 30mls for $20 then you're not gonna have too many buyers...
The pricing there is a little high but not too far off. Keep in mind, to move huge volume you won't be selling bottles of juice at 10$ for 15ml or 20$ for 30ml- at best you will be selling for half that if you have a competitive product. Established brands usually wholesale for $5 to $6 for 15ml. There has to be margin for b&m
Yes, that's correct. Im not counting B&M/wholesale but direct to end user ie websales.
Most websales based companies are significantly cheaper than B&M's. I can think of a vendor I used to order from before I started mixing my own that charged the same $20 for 100ml. All that aside, whenever you guys are ready to start taking orders send me a PM. I'd love to buy a few bottles and show you guys some support.
So I had a small headache with other companies trying to mix tabacco products with vape products so I called calco http://www.ecigaretteinsurance.com insurance and was given these prices. I just sent in my down payment. I think it is information that others would like to know.
Enjoy their failure of communication and the wrong phone numbers...
Sigh for another victim...
Do you have any recommendations on insurance companies? I can always get a new underwriter. I know others would love to know including myself.
I am fortunate to have large seed funding to start this so if I make a mistake here and there its not going to hurt as bad as someone who is paying everything from his or her own pocket.
Are these prices better than what you were seeing from other companies?
I am still waiting on some of the quotes but so far they are about the same. NOW this is insurance for the vaping industry not the tabacco world. There is insurance for that but that doesn't cover say lung disease formed due to vaping. From what the agent said that is covered unlike with tabacco insurance where stuff are excluded.