SuzieE Posted September 8, 2006 Share Posted September 8, 2006 I hope this is allowed. I know that we are all interested in insurance costs and finding someone who will insure us.I have been keeping in touch with Handcrafted Soap Makers Guild for a few months since I heard on here that they were trying to get insurance for all their members that covers SOAP and CANDLES. Wahoo it is here now they have gotten a package for all their members. It is now a part of the membership and the insurance is in force immediately as soon as you pay the membership.Details are here: http://www.soapguild.org/public/insurance.php It covers SOAP and CANDLES.............WahooSuzie Quote Link to comment Share on other sites More sharing options...
maryann Posted September 8, 2006 Share Posted September 8, 2006 I just received the email and am wondering what everyone's thoughts are on this?? I'd like to change to this as what I have doesn't (and WON'T) cover everything I sell.I will admit I'm clueless when it comes to this. :undecided Quote Link to comment Share on other sites More sharing options...
thecandlespastore Posted September 8, 2006 Share Posted September 8, 2006 I got an email last night too. Looking for other's thoughts on it as well before I pop out my business card...I read all the fine print and it does not mention a cap on what you can make in sales, so I am guessing your sales can be unlimited? I know I heard about one where you could not sell more than $5000 a year (what's the point of that one? hehe) Quote Link to comment Share on other sites More sharing options...
candlesprite7 Posted September 8, 2006 Share Posted September 8, 2006 I got this e-mail too. I'll defintiely be looking into it...:smiley2: Quote Link to comment Share on other sites More sharing options...
Noodle Posted September 8, 2006 Share Posted September 8, 2006 I want a copy of the actual policy. BUT if this is exactly as they say it is, then I am IN without a doubt. My current policy ends in a month or so. I pay near $2,000 a year. (Yes, you read that right.) Once I find out the facts from the Guild, I am so out of my other over priced insurance. I believe that this is what we have been waiting for. We are a low risk business and deserve this. I thank the Guild more than you will ever know! Quote Link to comment Share on other sites More sharing options...
Alajane Posted September 8, 2006 Share Posted September 8, 2006 Noodle, since you have an existing policy to compare it with, will you please post your thoughts after you see a copy of the policy?I haven't been able to find reasonable insurance in Alabama at all, so I'd love the opinion of someone with business insurance experience.TIA,Jane Quote Link to comment Share on other sites More sharing options...
ah-soy Posted September 8, 2006 Share Posted September 8, 2006 bumping this up...thought more peeps might like to check it out. It definately looks like a better deal that anything I've found so far! Quote Link to comment Share on other sites More sharing options...
Noodle Posted September 8, 2006 Share Posted September 8, 2006 Janie, I would be happy to let you know what I find out. But I have a feeling that there is not much more to add than what the Guild has already stated. It is a phenomenal price that they are offering. I do not even carry candles because the cost in my state is astronomical. The Guild policy is pretty cut and dry. I just want to see it in print and find out if there are loop holes. Here is the coverage as stated on the Guild's site:This is a Commercial General Liability policy. The 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 $100,000 Damage to Rented Premises Limit $5,000 Medical Expense LimitI am covered at $1 million in my current policy. I also have a much higher medical expense limit which is something that I do not even need. I have never been injured on the job and do not plan to. However, I cannot imagine needing so much money given what I do. The most critical bases of coverage have been taken care of here. The million for personal and advertising injury is what I personally find to be the most critical. I do not need the $100.000 damage to rented premises, but hey, it is nice to know that it is there if I ever do need it. My sales are very high. I sell large volume and I have NEVER had a single issue arise that warranted a law suit. While I know the possibility exists, (which is why I obviously have insurance), a group rate like this is the only way to go in this low risk business. The $500 per year that the Guild is asking for including membership is so reasonable that I have to keep reading the information on their site to believe it. It is such a fair rate. I also understand the need to join the Guild for this coverage. The insurance company wants to cover one organization and it keeps things simple. I hope that those of you in need of insurance decide to explore this option at least. It really is a great deal. Quote Link to comment Share on other sites More sharing options...
Alajane Posted September 8, 2006 Share Posted September 8, 2006 Noodle, thanks so much for your response.Yes, I had read the info on the site and, like you, am mainly interested in the $1 million liability. What I wanted to hear your opinion on was whether there were, in fact, any loopholes when you do see a copy of the policy.I'm afraid, not previously having had insurance, that I might overlook some loophole in the policy.And I sure agree about the price--the lowest I had found was around $1,000, and I'm definitely not a large volume operator--in fact, I haven't yet made a profit, but I do want to get insurance coverage for peace of mind. But I haven't been able to justify paying $1,000.Thanks so much for your comments and I'll keep an eye on this thread to see if anyone does, indeed, find loopholes in the policy--I almost signed up immediately but decided I'd wait for more experienced opinions.Thanks again,Jane Quote Link to comment Share on other sites More sharing options...
Freezin Posted September 9, 2006 Share Posted September 9, 2006 Thanks so much for passing on this information! Quote Link to comment Share on other sites More sharing options...
jditter Posted September 10, 2006 Share Posted September 10, 2006 Does anyone know if you have to pay the $500.00 up front for the year or can you pay a premium each month? How does that work?Thanks Quote Link to comment Share on other sites More sharing options...
Candles by DonnaMarie Posted September 12, 2006 Share Posted September 12, 2006 Hello all,I am in the process of looking for business and product liability insurance. If anybody has any more information on this subject please post. I admit that I am a little confused as to exactly what I might need.Bob and DonnaMarie Quote Link to comment Share on other sites More sharing options...
smellywax Posted September 13, 2006 Share Posted September 13, 2006 I purchased it when it was released but have not received any kind of confirmation and they have already taken the money out??? I emailed them but got no response??? Quote Link to comment Share on other sites More sharing options...
SuzieE Posted September 13, 2006 Author Share Posted September 13, 2006 I did also, but, I did it late at night. I am sure that they are totally overwhelmed with applications as the new and existing members are signing up for this. I bet we will be hearing something soon. Quote Link to comment Share on other sites More sharing options...
klo Posted September 15, 2006 Share Posted September 15, 2006 I haven't been on line in awhile, just checking to see for those that have purchased, are you getting a response??? I also received the email and am very interested.thanks,k Quote Link to comment Share on other sites More sharing options...
Todd1296 Posted September 25, 2006 Share Posted September 25, 2006 I am still considering doing this. Has anyone who purchased received their policy yet? Quote Link to comment Share on other sites More sharing options...
kwillenborg Posted September 26, 2006 Share Posted September 26, 2006 ........can any of you Texas folks (around the Waco/Dallas area) tell me who your insurance carrier is and give me an idea about the premium.TIA!!Karen Quote Link to comment Share on other sites More sharing options...
scottopus Posted October 24, 2006 Share Posted October 24, 2006 Just saw this thread today and was wondering if anyone has any updates or opinions about this insurance.I've just moved to a new state and feel like I'm back to square one in getting business insurance. This plan sounds great!Thanks! Quote Link to comment Share on other sites More sharing options...
escentiallysoy Posted October 31, 2006 Share Posted October 31, 2006 I am new to all of this. I guess I didn't even know you need insurance!? Any ideas on where to look other than what is posted here?? I will have to do a lot more research than I thought on all of this!!! Quote Link to comment Share on other sites More sharing options...
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