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TallTayl

Small and Indie Business Insurance, Product Liability

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38 minutes ago, GoldieMN said:

This was probably mentioned already, but "If you don't make soap or cosmetics and don't want to add it to your product line, then you don't qualify for membership in the HSCG and will need to look elsewhere for product liability insurance." (https://www.soapguild.org/insurance/insurance-faq.php).

GoldieMN

Good point. In that case indie business network is a better choice. 

 

When shopping for insurance, make sure the carrier understands the industry you are part of, and can/will process claims efficiently. The benefit of places like soap guild and indie business is they specialize in that type of business and can recommend and provide the right type of coverage for your operation. 

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Has anyone used Zinc Insurance? It was the first link TT originally placed in this topic. https://insuranceforartists.com/#msie

 

I just used their instant quote feature and it appears it would be less than $500/yr. Which seems pretty good. It also appears they work with you as many times as needed with the CoI's

 

"Some of the shows and exhibitions in which you participate may require proof that you carry liability insurance. We will issue your Certificate of Insurance as evidence of coverage (free of charge) as many times as necessary during the policy term, including listing the show as an Additional Insured if required."

 

Which is what I was looking for in the first place

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It still seems like the HSCG is the best deal (~$410 for membership + insurance).  Actually, can someone confirm, as it looks like they cover candles without the need to sell a "cosmetic or soap" as was the case in the past.  

 

Soaps, lotion, bath salts, perfume, essential oils, fragrances, candles, jewelry, clothing, fragrance oils, base oils, waxes, powders, masks, scrubs and just about anything else that is used to beautify the body, the home or the environment and is handcrafted. This list is not a full list, but a representative sampling of the kinds of products covered.

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Never mind, that caveat is still there.  Still, easy enough to make a lip balm and put it in your product line, even if you sell zero.    

 

What if I only make candles but not cosmetics or soap?


To qualify for a Professional Membership (and thus the insurance) you must make handcrafted soap and/or cosmetics. It doesn't have to be any particular percentage of your total revenue, just so long as it is somewhere in your product line. Remember, however, that the other benefits of HSCG membership are geared towards soapmaking.
If you don't make soap or cosmetics and don't want to add it to your product line, then you don't qualify for membership in the HSCG and will need to look elsewhere for product liability insurance.

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On 12/30/2017 at 8:12 PM, Clear Black said:

Has anyone used Zinc Insurance? It was the first link TT originally placed in this topic. https://insuranceforartists.com/#msie

 

I just used their instant quote feature and it appears it would be less than $500/yr. Which seems pretty good. It also appears they work with you as many times as needed with the CoI's

 

"Some of the shows and exhibitions in which you participate may require proof that you carry liability insurance. We will issue your Certificate of Insurance as evidence of coverage (free of charge) as many times as necessary during the policy term, including listing the show as an Additional Insured if required."

 

Which is what I was looking for in the first place

Are you using these folks Clear?

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On 3/20/2018 at 7:58 AM, Paintguru said:

Never mind, that caveat is still there.  Still, easy enough to make a lip balm and put it in your product line, even if you sell zero.    

 

What if I only make candles but not cosmetics or soap?


To qualify for a Professional Membership (and thus the insurance) you must make handcrafted soap and/or cosmetics. It doesn't have to be any particular percentage of your total revenue, just so long as it is somewhere in your product line. Remember, however, that the other benefits of HSCG membership are geared towards soapmaking.
If you don't make soap or cosmetics and don't want to add it to your product line, then you don't qualify for membership in the HSCG and will need to look elsewhere for product liability insurance.

 

HSCG won't cover you if you only make candles. You have to make soap and or cosmetics. You'll have to find another carrier for candles.

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13 hours ago, rhoops said:

Are you using these folks Clear?

 

I am not yet rhoops, but plan to initiate the process by the end of April. Let me know if you decide to go with them ya?

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10 hours ago, Clear Black said:

 

I am not yet rhoops, but plan to initiate the process by the end of April. Let me know if you decide to go with them ya?

I'm not using anyone yet and quite honestly, I'm terrified to not have insurance, especially since I'm creating wine bottle candles.  At the same time, we're so new that we don't yet have enough income to cover such a cost.  Catch 22 I guess.  I'll let you know if I pick them up.  I've emailed them with some questions but haven't heard back yet.

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My quote from Zinc was $370 a year which is $100 cheaper, I couldn't find anything bad about them in searching so just may give them a try when my policy expires this year.

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On 4/5/2018 at 10:17 AM, Candybee said:

 

HSCG won't cover you if you only make candles. You have to make soap and or cosmetics. You'll have to find another carrier for candles.

Right...but you only need one product on the soap/cosmetic side for them to also cover candles.  Seems like the way to go.  

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5 minutes ago, Paintguru said:

Right...but you only need one product on the soap/cosmetic side for them to also cover candles.  Seems like the way to go.  

Exactly. Plus, with their power purchasing program saves me enough in office supplies (toner), copies, print jobs, etc annually to almost cover my HMSC annual fees. 

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On 4/6/2018 at 9:56 AM, kandlekrazy said:

My quote from Zinc was $370 a year which is $100 cheaper, I couldn't find anything bad about them in searching so just may give them a try when my policy expires this year.

I have a called scheduled with them today.  I'll get the skinny and pass it along to everyone.

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It may help to print a list of coverage from indie business network and hsmg to compare. Cheaper may not mean equal coverage. 

 

Ask about costs to add insured. If you plan to vend at markets, many will require they be named on your policy. Not all places offer that, and not many for free.

 

ask about costs to increase to $2 mill. Some of my places have increased the coverage mins. 

 

Then, estimate how much you spend, or budget to spend, on office supplies, like paper, toner, ink, etc. and shipping. The power purchasing program discounts to many places we use frequently. Ups and fedex savings I found are pretty significant.  The insurance and membership of $420 saves me far more than that annually. HMSC (or whatever their newest acronym) aka the Soap guild membership literally pays for itself. 

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Sorry Tall, I got off the phone before I got your message, but in any event, here we go- This is for Zinc, or https://insuranceforartists.com/#close.  You can make your choices for coverage.  For $1 mil liability, 10k property, it's a master policy which runs Oct. 1st through Oct. 1st, with a prorated amount of $370 all due up front today.  It would cover the wine bottle candles I make which was good to know.  Come October 1, the policy needs to be renewed and then the actual full amount would be revealed at that time, somewhere between $400 and $550 as I was told.  Seems to me like it would be more if $370 is prorated in April.  I stopped there.  I need to shop around more if I know I'm going to be bound by this dollar amount.

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3 hours ago, TallTayl said:

It may help to print a list of coverage from indie business network and hsmg to compare. Cheaper may not mean equal coverage. 

 

Ask about costs to add insured. If you plan to vend at markets, many will require they be named on your policy. Not all places offer that, and not many for free.

 

ask about costs to increase to $2 mill. Some of my places have increased the coverage mins. 

 

Then, estimate how much you spend, or budget to spend, on office supplies, like paper, toner, ink, etc. and shipping. The power purchasing program discounts to many places we use frequently. Ups and fedex savings I found are pretty significant.  The insurance and membership of $420 saves me far more than that annually. HMSC (or whatever their newest acronym) aka the Soap guild membership literally pays for itself. 

They actually have it all online where you pick amounts for each and then it quotes you.  What it doesn't tell you is the policy isn't for a full year, so the $370 quote was not really accurate.

If I have to pay close to what the HMSC charges then it's not worth it to change because of the other benefits that I can take advantage of.

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On 4/9/2018 at 1:53 PM, kandlekrazy said:

They actually have it all online where you pick amounts for each and then it quotes you.  What it doesn't tell you is the policy isn't for a full year, so the $370 quote was not really accurate.

If I have to pay close to what the HMSC charges then it's not worth it to change because of the other benefits that I can take advantage of.

 

 

Wait. It isn't a full year?

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17 hours ago, iansmommaya said:

 

 

Wait. It isn't a full year?

That's what @rhoops  is saying they told him on the phone. $400-500 for full year.  Pro-rated thru Oct.

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17 hours ago, franu61 said:

Anyone have any experience with Campbell Risk Management?

Never heard of them. 

 

My only hesitation with places that do not specialize in candles (and other scented products) is how we would know if we are covered in a true event. Anyone can sell a policy.  What it covers, and how difficult it might possibly be to file claims makes me twitchy. 

 

The only way to know for sure is to compRe apples to apples with their agent.  Print out the information from Indie Business and Handmade Cosmetics for them to highlight what they cover and the final cost. Also factor in e tea insureds. My venues require they be named as added insured on my policy. Some places charge for that. HMSG does not. 

 

Also factor in the extra member benefits for both IBN and HMSG. Office max discounts and fedex group pricing save me a bundle every year, which often covers the cost of the membership/insurance and then some. 

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