Jump to content

Business Liability Insurance -going UP

Recommended Posts

Well  many here  may not have this  and do not need it  but I do and have for many decades. Since I did many shows over time that required it. Over time this one time cheap poilicy (300$) has really gone up at the same time my exposure has really gone down (only 3 shows this year -two next year). Now for the 1st time I only need it for one event at a shopping center at xmas(and I need to name them on the policy ) The shows I  now do have thier own coverage. Of cource its  more than doubled in price. It was a two million poilicy with a 1k deductible . I have my agent cutting  that  back to 500K  liablitiy and 3k deductible to get to the minimum of 500$ per year. This also covers my studio for 45K for fire insurance (homepolicy does not cover stutio) and 12 k for equipment .

State Farm is my carrier as well

I dislike insurance . This is an understatement

Edited by Mark C.
Link to comment
Share on other sites

My insurance (Hartford) covers my shop/studio, product liability, art fair liability, and my kiln repair work, for $235 a month. A lot of that cost is the kiln repair work, because it's considered high liability since I'm working with things that use a lot of power and get really hot, and could in theory do a lot of damage if I do something wrong. My insurance broker said a lot of insurance companies won't even cover me because of the kiln repair work. They just don't want to take on the liability, even though there's never been a claim on my policy in the 18 years I've been in business (knock on wood).

Link to comment
Share on other sites

  • 11 months later...
On 5/8/2022 at 12:10 PM, Mark C. said:

and I need to name them on the policy )

Sorry to hear that. I have been entering contracts for years that require specific additional insureds. Sorry to see it’s caught up with your shows.

Link to comment
Share on other sites

Having liability insurance can provide peace of mind when running a business, even if it can be costly. It's great that your policy also covers your studio for fire insurance and equipment - those are essential things to have protected. If your business is going down, you could use professional business advice at antonybatty.com. I hope you're able to find a policy that works for you!

Edited by elijahkrieger4
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...

Important Information

By using this site, you agree to our Terms of Use.