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TallTayl

HSCG insurance options

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Am renewing product liability insurance and looked at their handy dandy chart to happily discover the lower rate “minimal coverage” if not covering property damage. 
E01C5FDD-D1D1-4C2B-B25D-DA3144CB115C.png

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So with membership of $175, that puts us at $440 per year.  A bit better, that's for sure.  I guess I should finally do this so I can sell some candles.  I just need to come up with a product to fulfill their "cosmetic and soap" provision....lip balm I guess.  

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Don't think the minimal coverage ever included property. I went with the minimal last time and reconsidering for my renewal this year.

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What are you reconsidering? Going with prop coverage?

 

i am leaning toward no prop coverage since I can’t really prove what it would be worth, like for if they take amortization into account. I, done with markets and Faire, so pretty minimal equipment and such now. 

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On 10/16/2019 at 12:45 AM, TallTayl said:

What are you reconsidering? Going with prop coverage?

 

i am leaning toward no prop coverage since I can’t really prove what it would be worth, like for if they take amortization into account. I, done with markets and Faire, so pretty minimal equipment and such now. 

 

Last couple of years I went without the property coverage to save money. I always think about it each year prior to renewing. For me what works best is general and product liability plus the business local. As long as I have these covered I am good. Since I am always at a market or show I need protection where I am at.

 

I am a home based biz so homeowners covers the house. I assume that is what the property coverage is for, the place of business. Am I wrong? If so, it may just be redundant for me to have both.

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I would have to read. I “think” I remember it would cover displays, equipment, etc. not sure what exceptions they wrote I. To the policy. 

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My homeowners insurance will only continue to insure me with making my candles in my home if I also have separate property coverage, so I always go with the standard insurance. 

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On 10/10/2019 at 11:25 AM, TallTayl said:

Am renewing product liability insurance and looked at their handy dandy chart to happily discover the lower rate “minimal coverage” if not covering property damage. 
E01C5FDD-D1D1-4C2B-B25D-DA3144CB115C.png

do you happen to know of anyone else who offers candle insurance?  I looked at there list of things they don't cover and one was electrical items 😞

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1 hour ago, TallTayl said:

Wholesale supplies plus offers insurance.

 

eta as does indie business network

 

Have you had any experience with the insurance that WSP is backing?

 

My benefits from being a member previously in Soapguild has been 0 (except having them just to be able to get the insurance)

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