Thursday, 12 November 2009

Liability Insurance

I have a lot of problems when it comes to this i know where i can get the insurance but what annoys me is if you are doing your craft just as a hobby and then making little money just to cover some of the cost back then why must you have this on top of paying for your table at carft stall and most of these are £30+ so little tip there was a craft event i really wanted to take part in as the table was £12 and i know i can make my money back on this plus extra but at the bottom of the application form it said 'must have liability insurance' so i decided to contact the organiser and see if there was any way of getting round this she also arranged that liability insurance is very expensive and you will need to do quite a lot of events to get the money back and because i don't have any stands and not selling chain saws on my stall i could come a long without liability insurance fantastic, down side if someone does fall over my table i am liable but I'm willing to take this risk i have done quite a few craft events now and have never had any problems like this so i am more than willing to take the risk just thought i would tell you all so don't be put off if they ask for liability insurance some people are willing to meet you half way. Also someone a while a go told me about this site its defiantly worth taking a look I'm thinking of going with them next year i have done quite a lot of events this year and have made some really good contacts so thinks it about time i got some insurance now it also means i can do events with the council as they insist that you have insurance


Sue Doran said...

I sympathise with your situation but in my opinion, very few people can afford to take the risk. What if a claim runs into tens or even hundreds of thousands of pounds? You are PERSONALLY liable and that means you could lose all your possessions including your house, unless you set up a limited company. In that case, you can just wind up the company and your personal assets are safe. However, there are acccounting rules about limited companies and you have to pay an Auditor to have the accounts audited - you may as well pay the insurance policy! The NMTF policy (which I have) includes insurance for product liability so if someone injurs themself with my jewellery - say some beads that I bought from a third party broke and cut someone's artery, I'd also be covered. An extreme example I know, but I don't want to lie awake at night worrying about it - peace of mind is important. Last time I renewed, it was something like £90 - if you only do 10 events that's a pair of earrings you have to sell in order to cover that cost. People will sue you for anything and everything that they think they can get away with - money for free.

Sue Doran said...

PS, A fellow stallholders metal framed stall fell on my head a couple of years ago, I had an inch long cut - it was bleeding badly and I had to go to Addenbrook's hospital to get patched up. The stallholder was mortified - fortunately, I was absolutely fine so I didn't make any claim on his insurance but had I lost any money and been unable to work the day afterwards, I would certainly have not wanted to be out of pocket