Insurance Question

[megandgarr]

So now that I have obtained my business license and sales permit, I need to obtain insurance. I have already received quotes from my homeowners insurance company and the rates were not reasonable so I am going to go through Brower. For those of you that have insurance through Brower (Artist Program) was the process fairly painless to obtain insurance? Are they easy to work with? I submitted the online application yesterday (which only asked for very basic information) and I received a message that I would be contacted. It did not give me any indication as to when I might hear back from someone, so now I am just sitting tight... impatiently waiting. I will probably call someone tomorrow to see if I can speak with someone to get more information. 

[franu61]

painless and quick.  If I remember correctly I waited to hear back from them also, thinking I;d have to give more information,  instead I rec'd  my policy.

[megandgarr]

I haven't paid yet, so I assume there will be at least a request for payment. I didnt see an option to pay online when I submitted the application, unless I missed it. 

[megandgarr]

I sent a follow up email to ask about payment options. According to their brochure, they do not accept credit card payments, so I assume I will need to mail a check. They do provide instructions to mail in a check when printing and mailing an application, however they did not provide any direction for those choosing to submit an online application. Hopefully I will receive a response tomorrow. 

 

Thanks,

[TallTayl]

Does Brower cover candles?

Did you check into the Guild or RLI too? Some seem cheap, until all of the essential components are added together.

[Jcandleattic]

I have mine through the guild - the insurance, guild price has gone up twice since I've been a member, so I may not renew next year, but it's $400 a year (plus the cost of membership to bring the total to $520) 

 

When I first went to them it was a good deal because it was the only insurance I could find that I didn't have to have 2 separate policies - 1 for soap and 1 for candles. 

Before I started making soap, I had this same coverage for candles only for $800 a year through State Farm. 

Sometimes it pays to shop around. (Which I need to do again before I renew my policy/membership) 

 

This is the coverage -

This is a Commercial General and Product Liability policy. The base limits are:

• $1,000,000 General Aggregate Limit
• $1,000,000 Products-Completed Operations Aggregate Limit
• $1,000,000 Personal and Advertising Injury Limit
• $1,000,000 Each Occurrence Limit
• $300,000 Damage to Rented Premises Limit
• $5,000 Medical Expense Limit

Business Personal Property coverage includes "miscellaneous property of a floating nature". It basically covers "tangible property you own or is in your care, custody or control", like when you go to a show or have items on consignment in a store. The limits are:

• $1,000 Maximum payout per any one Item
• $5,000 Total
• $100 Deductible

Identity Theft coverage limits are:

• $15,000 Aggregate Limit
• $250 Deductible

[TallTayl]

I am with the guild too. After shopping around when i opened my business it made the most sense. I did not want to scrimp on a local policy that did not have experience with the products I make. Brower ended up very close to the guild costs after all the details were addressed.

Also looked into the Indie Business Network. It is a little higher per year, but they do offer conference call type classes for small businesses.

The membership benefits to the guild are tangible. Discounts in the form of contract prices for things i use (toner, paper, etc) at places like Office Depot and UPS just about cover my annual costs. At one time the guild offered substantial discounts at Sprint PCS which cut the cell bill substantially.

When choosing, it pays to look at all of the benefits and not just the amount due at signing.

The guild cost dropped by $20 last year, then just jumped $40 (effective Oct i believe). It may make sense to renew before the due date to save that $40!

[justajesuschick]

Curious to hear when you have heard from them!

 

I chose a policy that covered just what I make-scented wax melts. I do not make soap, other B&B nor candles so I did not want a policy-nor to pay premiums-as if I did.

[ChandlerWicks]

I

 

 

 

In this lawsuit frenzied world, it is important we protect ourselves and our assets with liability insurance that will respond to claims made against our business activities, including producing and selling hand made products.  

Unfortunately, homeowner policies most likely will not respond to claims involving the business activities of producing and selling handmade products which leaves small soap and cosmetic makers with very few "affordable" options.  
 
Luce, Smith & Scott. is an independent insurance agency that specializes in the development of insurance programs for specialty industry business groups. They are developing an affordable (for many as low as $275 annually) insurance program for the handmade industry with an A+ Best rated insurance company.

In order to gather additional research information and keep rates as low as possible, Wholesale Supplies Plus is assisting Luce, Smith & Scott by requesting that you participate in the survey that is linked below:
 
https://www.surveymonkey.com/s/3LBX5GR
 
Your participation and feedback are appreciated!

Debbie May

Edited September 17, 2014 by ChandlerWicks

[justajesuschick]

I just got that, too!

I went to take the survey but when I answered no to the first question (do you make creams, oils, soap, lotions, jewelry or textiles?) it thanked me and I was done. 

I guess wax is out??!!

[Unique candles]

Same thing happen to me even if you chose yes that is the end then they just want personal info in or to enter a contest.

[Azsunset]

I am curious about insurance as well. When you say "the Guild" which one are you speaking of? So new to this hobby!!

Thank you

[Guest OldGlory]

I'm not sure if this is what they are referring to, but check IGCA.net.

[Jcandleattic]

The guild is The Soapmaker's guild. (HSCG)  

In order to qualify for their insurance however, you must make soap, but they will cover the candle and B&B portion of your business as well. Another drawback to using the guild, is you have to pay for a membership to the guild on top of buying their insurance. 

 

if that does not appeal to you or you don't make soap, you can look into RLI.

I have never used them, have done no research into them, but have heard wonderful things about them. 

Edited November 29, 2014 by Jcandleattic

[Oceangazer1]

I didn't read all of the posts but RLI only includes soap and wax melts or wax that is only wickless.