Jeffrey Wade
Whether you're a full-time artisan or a hobbyist selling crafts at local markets, it's important to protect your business and livelihood with the right insurance. Craft insurance is designed to cover a range of risks that crafters may face, including accidents, injuries, property damage, and legal fees. Most events and venues require proof of insurance before accepting vendors, and online marketplaces are also starting to encourage sellers to carry insurance. There are several companies that offer craft insurance, including ACT Insurance, Ian W Wallace Ltd, Insureon, and NEXT Insurance. These companies provide different types of coverage, such as general liability, professional liability, workers' compensation, and commercial property insurance, with prices starting as low as $24.25 per month.
| Characteristics | Values |
|---|---|
| Craft insurance providers | ACT Insurance, Insureon, Ian W Wallace Ltd, NEXT Insurance |
| Craft insurance cost | Craft insurance starts at $24.25 per month or $279 per year, with ACT Pro. If you only need limited liability coverage for a few craft shows a year, ACT Go starts at $49 per event. |
| Craft insurance coverage | Medical expenses, product liability, personal & advertising injury, theft & damage, workshop & class coverage, professional liability, general liability, workers' compensation, commercial property, commercial auto insurance |
| Craft insurance requirements | Most events and retailers require proof of insurance before you set up your booth or put your products on store shelves. Many online marketplaces now encourage sellers to carry insurance. |
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What You'll Learn
Online marketplaces and craft shows
Online Marketplaces
Selling crafts online through popular platforms like Etsy, Folksy, eBay, or Not On The High Street is a great way to reach a global audience. These marketplaces provide an opportunity for independent crafters to set up their stores and connect with buyers seeking handmade goods. However, it's important to note that while these platforms may not require you to have insurance, it is still highly recommended.
Online sales can expose you to various risks, including product-related claims, customer injuries, and legal issues. For example, a customer could purchase a candle from your online store, and if it's defective and causes a fire or burn injury, you could be held liable. Craft insurance can protect you from such claims and the associated financial burden. Additionally, some online marketplaces may encourage sellers to carry insurance and refuse to cover liability claims.
Craft Shows
Participating in craft shows, fairs, and events allows crafters to display their talents and interact directly with customers. However, these events come with their own set of risks. Craft shows often involve setting up booths, displays, and equipment, which increases the chances of accidents and injuries. For example, a customer could trip and fall in your booth, or your display could accidentally cause damage to the event venue. Craft insurance can cover these types of incidents, protecting you from costly claims and legal fees.
Most craft show organisers require proof of insurance before allowing vendors to participate. They typically look for public liability insurance, which covers claims arising from interactions with the public and potential property damage. This type of insurance is essential for protecting your business from the financial implications of accidents or injuries that may occur during the event.
In conclusion, whether you're selling your crafts online or at craft shows, insurance is a crucial aspect of protecting your business. It provides financial coverage for accidents, injuries, and claims, giving you peace of mind and allowing you to focus on showcasing your creations. By understanding the risks associated with these platforms, you can choose the right insurance plan to safeguard your craft business.
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Craft business insurance
Homeowner's insurance typically won't cover a for-profit small business, and personal auto insurance may not cover business use of a vehicle. It's important to check with your insurance company about your planned business use and be aware that you may need to purchase a separate, more expensive policy for a "business vehicle."
When shopping for craft business insurance, it's essential to ask questions and ensure the policy is tailored to your specific needs. Different companies cover different territories, so it's crucial to check that your coverage applies to the areas where you plan to sell your crafts. You should also be aware of exclusions and the specific requirements of the insurance company, such as having few employees or few business visitors to your home.
Several companies offer craft business insurance, including ACT Insurance and NEXT Insurance. ACT Insurance offers flexible general liability policies for on-the-go hobbyists attending craft shows, with prices starting at $24.25 per month or $279 per year. NEXT Insurance provides professional liability, general liability, workers' compensation, and commercial property coverage for crafter businesses, with quotes available online in about 10 minutes.
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General liability insurance
Crafting is generally a low-risk business, and purchasing craft business insurance is simple, easy, and affordable. However, it is still important to have one as accidents can happen, and crafters are just as likely as large retailers to have a claim made against them. For example, a customer could get injured while testing a product at your booth during a street fair, or an item you sold could cause injuries after being purchased.
Some companies that offer general liability insurance for crafters include ACT Insurance and NEXT Insurance. ACT Insurance offers a flexible general liability policy for on-the-go hobbyists who need quick coverage at events. The policy is ideal if you only attend a few craft shows a year, and it starts at $49 per event. Meanwhile, NEXT Insurance offers tailored business insurance for crafters, and you can get a quote online in about 10 minutes.
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Product liability insurance
Crafting is generally considered a low-risk business, and purchasing business insurance for crafters and artisans is simple, affordable, and can be done quickly. However, it is still important to have insurance to cover any accidents, injuries, or damages that may occur as a result of your crafting business. Most events and venues require proof of insurance (Certificate of Insurance) and to be added as an additional insured party to your policy before accepting you as a vendor.
Some insurance companies that offer product liability insurance for crafters include ACT Insurance and NEXT Insurance. ACT Insurance offers a policy called ACT Pro, which includes product liability insurance and starts at $24.25 per month or $279 per year. This policy also includes additional coverage options such as theft and damage coverage and workshop and class coverage. NEXT Insurance offers tailored business insurance for crafters, including professional liability insurance and general liability insurance, and it only takes about 10 minutes to get a quote and purchase coverage online.
In addition to product liability insurance, there are other types of insurance that crafters may want to consider, such as general liability insurance, commercial property insurance, and workers' compensation insurance. These types of insurance can help protect your business from accidents, injuries, property damage, and financial losses due to workplace injuries or illnesses. It is important to assess your specific needs and risks as a crafter to determine the best insurance coverage for your business.
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Commercial property insurance
For example, if you are a crafter selling your handmade goods, commercial property insurance can protect your business in the event of a claim. This could include damage to your booth at a craft show or a customer injury caused by one of your products. Most events and venues require proof of insurance, such as a Certificate of Insurance (COI), before accepting vendors. Therefore, it is essential to have adequate coverage to participate in craft shows and sell your products.
When considering commercial property insurance for your craft business, you should evaluate the specific risks associated with your craft. For instance, if you create candles or wax melts, you may want additional coverage for potential fire hazards. Similarly, if you sell your crafts online, you may need coverage for data breaches to protect sensitive customer information.
Several insurance providers offer commercial property insurance specifically designed for craft businesses. For example, NEXT Insurance provides commercial property coverage for crafter businesses, along with professional liability, general liability, and workers' compensation insurance. They offer tailored business insurance for crafters, and you can get a quote and purchase coverage online in minutes. Insureon is another option, offering free quotes from top insurance companies, making it easy to find the right coverage for your crafting business.
Additionally, Travelers Insurance provides commercial property insurance for businesses of any size, with over 150 years of experience in the industry. Their policies can be tailored to meet your specific needs and can be purchased as standalone coverage or in conjunction with other policies. It is important to shop around and compare quotes from different providers to find the best fit for your craft business.
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Frequently asked questions
Craft insurance is essential to protect your business and livelihood. It covers accidents, injuries, legal fees, damaged vehicles, and third-party risks of selling handmade arts and crafts.
Craft insurance covers common claims crafters face, like damages from unexpected weather at an event or medical expenses for an injured customer. It can also include product liability insurance, personal & advertising injury, and theft & damage coverage.
Craft insurance is generally affordable, with prices starting at $24.25 per month or $279 per year. The cost depends on factors such as revenue and the number of employees.
You can get craft insurance from companies like ACT Insurance, Insureon, NEXT Insurance, and Ian W Wallace Ltd. These companies offer tailored coverage for craft businesses, including general liability, professional liability, and commercial property insurance.
To get craft insurance, you'll need basic information about your business, such as revenue, location, the number of employees, and any business-owned vehicles. You can then get quotes from different insurance providers and purchase a policy online.
