Cascade looks after many small Arts & Crafts businesses. Many of these businesses started off as a hobby and then have gradually grown and once the products are being sold, this is when insurance should be considered. In fact, many Craft fairs insist that their stall holders hold Public Liability insurance for themselves as well as the venue having this insurance.
There are a few categories of insurance that you will want to consider for an Arts & Crafts business:
Public Liability – as explained earlier, Public Liability Insurance can be mandatory in some circumstances and covers any injury or property damage that occurs to a member of the public in connection to your business. For instance, you teach Pottery and someone in your class is unfortunately injured, or someone trips over some stock or belongings you have at a craft market then Arts & Crafts Public Liability insurance will be used to pay compensation or be used for your defence costs.
Product liability – This cover normally comes together with Public Liability insurance and If you supply products then this is the cover that will come into effect if your products cause any harm or injury to a person, or damage to their property. Again, the cover will also cover the cost of defence of the claim.
Tradesman Insurance – If you don’t have a standard business premesis then this may be the type of policy that includes the Arts & Crafts Public and products liabilitys as above. Cover can also include Tools.
Professional indemnity – This cover will protect your Arts & Crafts business against a claim of professional negligence because of poor advice. If you offer advice you should consider if this type of policy is suitable for your business.
Employer’s Liability – This is a legal necessity if you employ anyone in the course of your business. This protects you if one of your employees become ill or injured whilst working for you. The amount of cover that is legally required is £5,000,000 but most policies give £10,000,000
Combined Liability – For Arts & Crafts businesses that have premises then an Insurance that combines any of the above liabilities with Contents, Stock, Goods in Transit and Business Interruption is suitable. Cascade Insurance can discuss this type of policy with you.
Each Trade sector within Arts & Crafts will have their insurance priced differently according to the nature of risk of the business. This means that Knitters will have a different price from Potters and Jewellery makers. It is important that the nature of what the business does is explained so that the insurance will properly cover the business.
Cascade will look after your business interests with the utmost care whether you are a big business or a small one. If you would like further advice then give us a call on 01233 512548 or email info@cascadeins.co.uk
