# Small business insurance



## BlueVine (Jun 4, 2014)

Hey guys. I am starting to sell some of my goods at farmers markets around town, and a few of them require me to have general liability business insurance. Has anyone else purchased insurance for their company or run into this issue? I'm barely making any money (more of a hobby, really), so I don't want to spend a ton of money on something that I will almost definitely never need. The cheapest quote I've found is for $700/yr. That's like 1/10th of my annual sales, so it doesn't seem like it's worth it. Does anyone know of a cheaper option?


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## Yonak (Mar 27, 2014)

Check with your insurance agent to see if your carrier offers a rider for your homeowner's policy. Mine costs $175/year.


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## BlueVine (Jun 4, 2014)

> Check with your insurance agent to see if your carrier offers a rider for your homeowner s policy. Mine costs $175/year.


That's a great idea actually, but I'm not a homeowner yet


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## Nickdarr (Nov 2, 2012)

If you have renter's insurance, you may be able to do something similar to a homeowner's rider.


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## diverlloyd (Apr 25, 2013)

Don't buy from travelers insurance company. Talk to your insurance provider and see what they offer I am with State Farm and they have extra add ons for things like this.


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## Domer (Mar 8, 2009)

You might check with your insurance agent to see if you need product liability or if the umbrella on your homeowners policy will cover you.


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## Wildwood (Jul 22, 2012)

A nice read,

http://www.craftsreport.com/beginning-business/177-craft-business-insurance.html

Show event insurance might be a better choice, check around for best price for coverage you need. Like Lewis points out in her article have to understand what is and not covered regardless of which way you go. Had an annual craftshow policy for few years, but dropped it after rate increase and did not cover out of state.

http://www.actinspro.com/?gclid=CJauhKPx778CFSbl7Aod7V0AjA


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## Finn (May 26, 2010)

I had an insurance policy to cover my toy making and it cost me $800 a year. That is a LOT of $3 toys! I no longer make toys.


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## bigblockyeti (Sep 9, 2013)

I've wondered about this myself, my brother bought my son a wooden train for his birthday, the cars were connected by screwed in steel hook and eyes. The hooks weren't very tight and I found one of them in my son's mouth. If he had swallowed it $800 would seem like and extreme bargain.


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## Yonak (Mar 27, 2014)

> I ve wondered about this myself, my brother bought my son a wooden train for his birthday, the cars were connected by screwed in steel hook and eyes. The hooks weren t very tight and I found one of them in my son s mouth. If he had swallowed it $800 would seem like and extreme bargain.
> 
> - bigblockyeti


..And that is why making toys is not even on my "some day" list.


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## rrww (Aug 12, 2012)

Keep shopping for insurance.

When I started my business and needed insurance I had a huge range of quotes some salesmen come in and think you need 5 million for this and another 2 million for that. Its almost a crime what some of these agents tell you. Once you find a decent insurance agent that understands what you are doing and not trying to line their wallet, they can tell you what you really need. Quotes for my business ranged as much as $600 a month - now that is crazy.

Good luck.


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## JAAune (Jan 22, 2012)

We're on a woodworker's insurance policy that costs less than $2,000 a year for general liability, transportation of goods and renter's insurance combined. The premiums are based upon estimated volume of sales and we're moving far more product than the OP ever will. We're also covered for damage to the client's property during installs.

To qualify though, we are required to maintain a certain level of infrastructure in our facility (spray booth, etc.).


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## Woodendeavor (Apr 7, 2011)

My business insurance is $800+ / year. It covers me for loses at a show, it covers my tools and my shop and it covers liability for products sold. There is allot of options out there. Good Luck


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## Woodmeister (Dec 30, 2014)

Has anyone dealt with ACT Insurance.. Wildwood posted the link to them..


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## Woodmeister (Dec 30, 2014)

> My business insurance is $800+ / year. It covers me for loses at a show, it covers my tools and my shop and it covers liability for products sold. There is allot of options out there. Good Luck
> 
> - Woodendeavor


Hey Woodendeavor.. Is this a business policy complete or just liability.. Just general info is fine and what company are you currently using if you don't mind me asking….


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