Vendors & Crafters Insurance
The main idea behind summer festivals and trade shows is to offer a way to exhibit your wares to prospective customers and for them to see the latest and greatest that your company has to offer. The major downfall to these events, however, is that they can often lead to a number of unpredictable claims against vendors for everything from property damage to bodily injuries.
Most insurance policies do not cover you against claims that are made against you while your goods are on display at a public entity, festival, mall, store or fair. In addition, it is most likely that the venue will require you to carry some form of liability insurance. Even if you are not required by the vendor to carry exhibitors insurance, you are risking your livelihood and you need adequate insurance to make certain you are protected when disaster strikes.
Insurance That Offers Peace of Mind
As an experienced agent who works with vendors and crafters on a regular basis, Doug Mahany understands that exhibitors insurance is not necessarily the first worry that comes to mind when you think about your festival or show stand. He has discovered that this is a topic that touches businesses directly because it is what brings you the peace of mind you need to be successful.
There are a number of different types of coverage that you may need to consider. However, as a vendor one of you main concerns should definitely be liability. Liability insurance coverage is what will protect you if you are deemed responsible for bodily injury to a person because of an act of omission or negligence or damage to someone’s property.
Even if you do not believe that you are a major liability factor, it is crucial that you take the necessary steps to be prepared for any unforeseen incident that may occur. As an experienced agent who sees claims on a daily basis, Doug Mahany will be the first one to tell you that accidents can and will most likely happen when you least expect it.
For example, imagine you have your vendor stand set up at a summer festival. All of a sudden, someone slips and falls while they are in your tent. You could be held liable for any injuries that are sustained, which can include medical bills, litigation and loss of income.
Another example is while you are setting up your stand, you accidently knock over a vase that is for sale in the next booth. You will be responsible for paying the owner of that booth for the piece that is broken.
In both of these instance, liability insurance will be the thing that saves you. You will end up paying incredibly expensive fees and bills out of pocket if you do not have adequate protection through a vendors & crafters insurance policy.
Usually a festival, trade show or other such event will require you to have a vendors & crafters insurance policy that not only covers you and your business, but also the event and its location as an additional insured.
An additional insured may be an organization or a person. This will extend the coverage that you have through your exhibitors insurance to protect the person or organization from any legal action that your negligence causes.
Some people are confused by the term “inland marine”. Inland marine coverage is a form of property insurance that protects your good when they are at a show, being transported or at a temporary location. Doug Mahany will be able to tell you about all of the options you have available for inland marine insurance.
Never make the assumption that liability coverage will also cover you against damage to your stand or inventory loss. The majority of policies will only cover you if someone is hurt in your tent or booth. For instance, if a shelf falls on a customer, your liability will cover the medical bills and litigation. However, it will not pay for the inventory that was damaged when the shelf fell or the shelf itself.
If you your vendors & crafters insurance to cover your equipment, tools and inventory against loss or damage while at a festival, show or fair, then you will need to make certain that the policy you purchase addressed that specifically.
At Putnam Record Insurance Agency, you do not have to worry whether you have the right level of insurance. Agents like Doug Mahany are more than willing to take the time to get to know you and your business in order to make certain that all of your exhibitors insurance needs are properly met.
Before you load up and head to your next trade show or festival, take just a moment to make sure you are adequately covered with a policy that will protect you against the unexpected. All you have to do is click on the quote request button to get started right away with a comprehensive and affordable insurance package that is tailored to meet you specific needs.