3 Benefits of Craft Insurance
As a crafter, your hobby doubles as your business. This means you have a lot more to think about on the legal side of things. Insurance is often overlooked by many small businesses because it can be complicated, expensive, and seen as unnecessary. However, it is one of the most important investments you can make for your crafting business.
For over a decade, crafters across the country have trusted the protection offered by ACT Insurance. Today we will cover three of the biggest benefits of craft insurance.
Craft Insurance Keeps You Eligible to Attend Shows
In order to attend most events, you will need to show proof of insurance. Without it, you can put your business and event organizers at risk of being named liable in claims.
With your needs as a crafter in mind, ACT created two insurance policies for you to pick from. Our annual policy starts at $265 and our show policy starts at $49. Both of our policies offer coverage in all 50 states and the option to add an unlimited number of additional insureds—which is required by many event organizers in order to be a vendor.
What is the annual policy?
Offering a full year of comprehensive coverage, the ACT annual policy is best suited for crafters who attend multiple events a year, sell products online, or lead any instructional courses. This policy uses a more robust general policy and includes coverages like product liability insurance and business personal property insurance. You even have the option to add on any additional coverages.
What is the show policy?
For craft vendors that only need event coverage for a few days or operate seasonally, the ACT show policy allows you to customize your policy term to fit your timeline. This policy starts with a 1–3 day coverage and can be extended for up to 90 days total for an additional low premium. While the show policy does include general liability coverage, it does not include coverage for product liability or first-party property damage claims.
Still trying to decide which policy type is best for you? Compare ACT’s policies today!
Craft Insurance Helps Lower the Cost of Claims
A single liability claim could cost you thousands in out-of-pocket expenses, as well as damage your reputation and bring your crafting business to a halt. We know you would never intentionally harm someone with your products, however accidents do happen. Some of the more common liability claims we see filed against crafters are for:
Choking on small parts, such as beads
Allergic reactions to metals or dyes used
Bodily injury from a damaged or broken piece
Property damage from an event booth
Slip and fall at event booth
Craft insurance can do more than just protect you from third-party claims. In the event of theft, a cyber attack, product damage during shipment, or damage to premises rented to you, the ACT annual policy could help you regain lost profits, refund lost supplies, and lower the cost of legal fees.
Craft Insurance Provides Peace of Mind
When it comes to your craft, you deserve high quality insurance with a wide range of coverage options. Getting insured with ACT allows you to focus on what matters most—your craft and your customers. We work to help take away the worry of what could go wrong and ensure you do not have to navigate the claims process alone.
Having craft insurance also shows you are serious about your craft. This can help to boost your credibility to customers, online marketplaces, and event organizers.
How To Get Craft Insurance
ACT makes getting insured simple and quick. Our online application can be completed in 10 minutes or less, allowing you to instantly access policy documents and immediately start your coverage. Between our two policy options, you can be confident you are getting affordable coverage customized to your needs as a crafter. We are proud to insure creative, talented crafters like you!