Anyone selling goods or operating a business, including independent crafters, artisans, and organizers of events, should have craft fair insurance to protect against claims for bodily injury, property damage, product liability, and theft. This type of insurance, also called vendor liability or artist insurance, can be mandatory for vendors to participate in fairs and helps cover legal fees and other costs from unexpected incidents.
Who needs insurance:
- Individual Crafters & Vendors: If you sell handmade goods at markets, fairs, festivals, or online, you should have insurance to protect your business.
- Artisans & Artists: Whether you make jewelry, pottery, candles, or other art, insurance safeguards you from claims arising from your products or booth setup.
- Organizers of Events: Those who host craft fairs need liability and cancellation insurance to cover risks associated with the entire event, like bad weather or attendee injuries.
- Business Owners with LLCs: Even if your business is structured as a limited liability company (LLC), you still benefit from insurance coverage for your products and operations.
Why it’s necessary:
- Mandated by Fairs: Many fair organizers require vendors to carry insurance to ensure participant safety and financial protection.
- Protection from Incidents: Coverage helps with costs from accidents, such as a customer tripping over your display or a faulty product injuring someone.
- Property Damage & Theft: Insurance can cover damage to your inventory, equipment, or booth, as well as theft from your stall.
- Legal Defense: The insurance policy can pay for legal fees if you are sued for issues like bodily injury or property damage.
Types of coverage to consider:
- General Liability: Essential for covering injuries to third parties and damage to their property.
- Product Liability: Protects against claims that your products caused harm or injury.
- Business Personal Property: Covers your supplies, equipment, and inventory.
- Professional Liability: Recommended if you teach workshops or offer professional advice, as it covers liability arising from your expertise.
Where to buy craft fair/vendor insurance:
- Homeowners Insurance: Call your own agent and ask if your current insurance policy can add a rider to cover your business.
- ACT Insurance – artists can purchase yearly coverage, or coverage for individual events
- Handmade Insurance – insurance for Craft businesses
Do you know of other insurance companies that cover this type of business? Email us the information at admin@ctcraftfairconnection.com