Vendor Insurance: what you need to know
As the owner of a handmade craft business, you’ve likely encountered a requirement for vendor insurance as you attend fairs, festivals, and shows to sell your products. However, finding an affordable policy to meet your needs isn’t always so easy. That’s why Artists, Crafters, and Tradesmen (ACT) Insurance has created two policies built to meet vendors’ needs, an annual policy and a short-term show policy. Let’s take a quick look at how ACT’s vendor insurance policy helps you.
General Liability Coverage
General liability is the primary feature of both of the ACT vendor insurance policies. This coverage protects you and your business from third party bodily injury and property damage claims stemming from your negligence.
Most often this is the coverage that you will be required to have at shows, festivals, and events. ACT provides vendors with the following coverage:
- $1,000,000 per occurrence
- $2,000,000 aggregate†
One of the most frequently asked questions our ACT customer service representatives receive from customers is, “what is an additional insured?”
An additional insured is a person or entity that requires you to provide them from suits and claims brought against them due to your negligent actions. Most of the time an additional insured will be an event director, the organization hosting the event, or even a landlord.
With ACT Insurance, you are able to easily add as many additional insureds as you need. You can either add them at purchase or by logging back into your account and adding them from your dashboard anytime during the term of the policy.
Once you have added an additional insured, ACT will email them proof of insurance so that they know you have purchased a vendor insurance policy.
Annual Vendor Insurance Policy
The ACT annual policy provides vendors with coverage for 365 days. While this policy provides the general liability coverage mentioned above, there are additional coverages available with this policy that are not included in the ACT show policy.
For example one of the most common claims that ACT receives is damage to business personal property such as when a tent or a display is picked up and blown over.
Another example of a claim only covered under an ACT annual vendor insurance policy is if a tablet or other device used to process your business transactions is stolen.
You can purchase the annual policy online and thereafter, easily manage your account, documents, and add free, unlimited additional insureds.
Show Vendor Insurance Policy
The ACT vendor insurance show policy is great if you only require general liability coverage for a short amount of time. ACT’s show policy starts at only $39 for 1–3 days of coverage. You can opt to extend your coverage for up to 90 days for an additional premium
This policy only provides general liability coverage, meaning it will protect you from third party property and bodily injury claims; however, there is no coverage for your business personal property within this policy (product liability excluded too).
Again, the show policy allows for free and unlimited additional insureds during the term of the policy, is purchased online, and you are able to access your account anytime to conveniently manage your policy.
Contact and Buy
All ACT vendor insurance policies can be purchased online at anytime. If you’re ready to buy simply click on the policy you want below:
For additional information, please contact ACT and a licensed insurance agent will answer any questions you may have.
260 S 2500 W #303
Pleasant Grove, UT 84062