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When you begin to sell your products, it is often recommended to obtain Product Liability and possibly other business insurance coverage to protect yourself from potential law suits. At first the project of finding and selecting a carrier seems daunting. Depending on your sales levels, insurance may even seem out of reach at first. You have several options, some dependent on your total sales in a given calendar year. This list is not all inclusive, but gives you an idea of places to start your search for a carrier that fits your personal business needs. Popular Insurance Carriers for Indie Businesses (Soap, Candles, Cosmetics, etc) Name: Brower Insurance - sold to Marsh & McLennan - Sold to ZN Creative Product: Artist and Craft Artist Program Web site: http://www.mma-mw.com/business/specialty-programs/artist-program https://zncreative.com Products Covered: Speak with agent. No specific products are listed on the site. Extra Benefits: none Note: insurance coverage only. No memberships to guilds or networks required. Name: RLI Product: Product Liability Insurance Web site: http://www.rlicorp.com/Products/pl.asp Extra Benefits: none Products Covered: Speak with agent. No specific products are listed on the site. Note: insurance coverage only. No memberships to guilds or networks required. Name: Handcrafted Soap and Cosmetics Guild Web site: http://www.soapguild.org/ FAQ: http://www.soapguild.org/membership/benefits-chart.php Products Covered: Extra Benefits: some supplier discounts. http://www.soapguild.org/membership/benefits-chart.php Other Notes: insurance is a member benefit. You cannot obtain insurance without accompanying guild membership. Name: Indie Business Network Web Site: http://www.indiebusinessnetwork.com/products/ Product Info: http://www.indiebusinessnetwork.com/product-liability-insurance/ x Products Covered: Extra Benefits: some supplier discounts. Note: insurance is a member benefit. You cannot obtain insurance without accompanying IBN membership. Other: Check with your own insurance carrier(s) and compare options and rates. It is useful to have coverage charts from the popular specialized industry options to compare apples to apples.
I've looked into insurance but wanted some others to chime in. My first question is when did you or do you feel is the time to purchase it...before your first sale or once established? If once established what do you consider "established? Next question what can someone claim as damages from your wax melt? Keep in mind this is the only item being sold so no body care or wicked candles etc. I understand it's good for covering your work space and materials but on a stand point of being sued by others what's the chances more less?
Hi guys, So if i have decided to start selling..where do i start..? Do i just need a vendors license if it will only be from home/website? Is there a source i can call to find out what i need legally, do things the right way? Ive been reading threads here and honestly it sounds scary...license,copyrights,warning labels, insurance? I will only be selling wax melts..no candles. Thanks in advance!