Is it Time to Buy Insurance?
“Where can I get insurance? Do I really need it?”
This question is asked at nearly every adult school gift basket class I teach, and I bet new and current designers in future classes will ask the same.
It’s important for every designer to consider investing in the type of business insurance that matches their level of liability.
For us, that includes product liability insurance (even if products are prepackaged) and fire/flood/theft (for your workspace and if you sell on consignment).
You’ll also qualify for other types of coverage, but it’s best to talk to an insurance agent who’s knowledgeable about small business policies to learn your options.
Insurance isn’t a glamorous topic, but neither is the thought of receiving a summons or losing everything you’ve worked so hard to obtain.
This page provides more information on insurance requirements.
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2 Responses to “Is it Time to Buy Insurance?”
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Small gift basket businesses can usually be insured under a Home Business Insurance rider added to a homeowners policy. The premiums are very affordable.
Hope that helps
Hi Rob,
What you say is true for many home-based designers but not all. I’ve spoken with some whose home insurance policies have no coverage.
Thankfully, there are independent insurance firms that provide coverage for some of them.