product liability and what else?

[jenscandles]

I did not want to hijack the other insurance thread, but with the recent insurance conversation I was reminded I still need to get some before I can start selling. I ran a search on the board here and found several possibilities of where to look and even found a couple of local agents. But before I call them I wanted to confirm exactly what I’m looking for in insurance.

Obviously product liability is a given, but how much is enough? Also what is the name of the “someone tripped in my booth at the craft show” insurance…is that maybe just general liability? I’m thinking that simply having product liability is not enough. What other types of insurance do I need to include / consider when I’m speaking to the agent?

I appreciate your input. I'm hoping to call them tomorrow.

Thanks

Jen

Edited August 19, 2009 by jenscandles

[TheWickedWick]

Gee..I didn't think about "what else"! I need to know this info too. Right now I just do tarts/clamshells and wickless tin candles but junk can happen with these too and I need to cover myself as well. Interested to find out "what else".

[jenscandles]

Is anybody carrying anything other than product liability?

[Von354]

I am a Limited Liability Corporation? Being a LLC protects your personal assets. Also, I have an Umbrella Policy?

I don't do craft shows. However, I asked my husband and he said the organization should have liability insurance. You could ask the person in charge if they have liability insurance for the event. I always have my insurance company send a copy of my policy to wholesale accounts.

Edited August 20, 2009 by Von354

[judyvega]

I did not want to hijack the other insurance thread, but with the recent insurance conversation I was reminded I still need to get some before I can start selling. I ran a search on the board here and found several possibilities of where to look and even found a couple of local agents. But before I call them I wanted to confirm exactly what I’m looking for in insurance.

Obviously product liability is a given, but how much is enough? Also what is the name of the “someone tripped in my booth at the craft show” insurance…is that maybe just general liability? I’m thinking that simply having product liability is not enough. What other types of insurance do I need to include / consider when I’m speaking to the agent?

I appreciate your input. I'm hoping to call them tomorrow.

Thanks

Jen

Hi Jen - yes, that is general liability - if you meet/speak with a reputable agent, he/she should walk you through all of the possible exposures to make sure you have everything you need - you will need to give them as much info about your operation as you can to make sure nothing is missed. The agent's job is really to help the insured know what they could be at risk for. Let us know how it turns out for you!

[deb426]

The agent's job is really to help the insured know what they could be at risk for.

In theory that is true. However, in reality the agent's job is to sell as much insurance as possible. So educate yourself before and after talking to the agent and don't accept his or her word as gospel.

[judyvega]

In theory that is true. However, in reality the agent's job is to sell as much insurance as possible. So educate yourself before and after talking to the agent and don't accept his or her word as gospel.

I work in the insurance business, and we don't try to fleece people. If the agents don't walk people through each exposure, they are open to E & O claims in the event that something happens and there is no coverage. It's always the insured's decision what they need or what they choose not to have.

[deb426]

I work in the insurance business, and we don't try to fleece people. If the agents don't walk people through each exposure, they are open to E & O claims in the event that something happens and there is no coverage. It's always the insured's decision what they need or what they choose not to have.

I understand what you are saying but I work for a personal injury law firm and too often people come in after an accident with automobile insurance policies which were not properly explained to them by their agent. I didn't mean to imply that insurance companies fleece people. But I have been doing this for 18 years and I hear the same story over and over..."My agent didn't tell me that."

Many times I have seen people not have enough coverage because it has not been explained to them properly. I have often seen someone who has too much coverage in one area and not enough in another. Insurance companies are businesses and like any business, they want to make money. Sometimes people are undersold insurance in an area that has a higher likelihood of costing the insurance company money and oversold in an area with a less likelihood of exposure for the insurer.

My advice was for the person to educate herself in addition to speaking with her agent. I stand by that advice because I think people need to take responsibility to understand what their insurance policies (and other contracts) mean before signing the agreement. It's too late to do it after an accident happens.

[jenscandles]

Thanks judyvega and deb426 for sharing that info. I'm hoping to have time during the day today to start contacting a few places.

Thanks again,

Jen