An eclectic blog about beads, beading and beyond

Tuesday, March 1, 2011

Getting serious - insurance for beaders who sell their work or teach classes

It's hard to know what image I can use to bring some life to this week's blog post - insurance! So, I have decided just to use a cheery picture of my Rhombus beaded beads to counter the gloom of what follows.

Prompted by a recent blog post by an Etsy colleague I decided to check out what my home insurance covered now I am selling my beadwork and doing beading classes out and about. It is one of those things I have thought about before but never acted on. As always with insurance I faced the questions of what are the risks if I do nothing. Well, it seems my home insurance won't cover me for the beads that I use to make things to sell or the items I have as stock at home but more importantly when they are on exhibition there is no cover for them. Considering that is happening more and more for me, it got me wondering - to insure or not to insure. Then, the question of public liability insurance raised it's tricky head. If I have someone visit me to buy an item at home and they have an accident - my home insurance doesn't cover me as their visit if money changes hand. It also doesn't cover me if I am teaching (for money) at home or elsewhere. So, after much debate with myself and my bank balance I have decided to take out a small business insurance policy.

I'm curious to know what others do? Are you insured for what you do as a beader? What risks are you prepared to take? Have you found the perfect insurance for you? Love to hear your experiences and thoughts.


Roberta said...

Interesting post. I have never even given this a thought! Thanks for the reminder!

KRDesigns11 said...

I've buried my head in the sand. The 3 consignment shops are either self insured or it is my risk. I don't know anyone who gets insurance. I really need to change the legal status of my business so that my personal finances are not at risk.

Marsha Wiest-Hines said...

I have had a business in my home for 24 years, and not insured myself against loss, or lawsuit from injury. I figure at this point, I have saved so much money not insuring myself that if the odds turn against me, my gamble will have seen me break even. Watch, some client will break their hip on the ice in my driveway tomorrow, and I will be a very sorry camper! Interesting post Glenda.

storybeader said...

I don't teach or sell out of the house, but I remembered years ago, our doggie bit this horrible employee, playing with the dog's food. It covered us then in our homeowner's insurance...

planettreasures said...

I just have market insurance, public liability, but I dont teach or have people come to my house to buy, only friends sometimes.

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