Lori and Rob on thu 5 jun 97
Hi! I just joined the list and I have enjoyed reading many of the
posts.
I could use some help. I need to find a source for "product liability
insurance". I have been told I will need it for the larger shows.
Also, any help you could give on setting wholesale prices. To be
specific should they end in zero, five, nine or something else? Or
doesn't it matter.
Thanks,
Always in clay,
Lori
imagery@ctaz.com
Joanna Ellis-Monaghan on fri 6 jun 97
I've just been shopping for this myself--
Start with whoever carries your homeowners or renters insurance on your
home and/studio. You should carry both product liability and business
insurance, coverage traveling and at shows, plus insurance on your
equipment, materials, inventory, and buildings.
Definately shop around--what I've found ranged from a $75/yr tag on to my
homeowners up through the many companies that require a $1000 minimum
premium--kind of a big difference!
Just go through the yellow pages, describe what you need and get quotes
from everyone. You can sometimes get a better deal if you put all your
insurance (home, car, business, etc) with the same company.
Jo.
On Thu, 5 Jun 1997, Lori and Rob wrote:
> ----------------------------Original message----------------------------
> Hi! I just joined the list and I have enjoyed reading many of the
> posts.
>
> I could use some help. I need to find a source for "product liability
> insurance". I have been told I will need it for the larger shows.
>
> Also, any help you could give on setting wholesale prices. To be
> specific should they end in zero, five, nine or something else? Or
> doesn't it matter.
>
> Thanks,
> Always in clay,
> Lori
> imagery@ctaz.com
>
Robert Compton on fri 6 jun 97
Lori and Rob wrote:
>
> ----------------------------Original message----------------------------
>
>
> I could use some help. I need to find a source for "product liability
> insurance". I have been told I will need it for the larger shows.
>
>
> Thanks,
> Always in clay,
> Lori
> imagery@ctaz.com
--
Product Liability insurance is usually packaged with your
business liability (personal injury) insurance, if someone comes to your
studio and slips and then sues for damages. Costs for both insurances
are based on the amount of sales, someone selling $1,000,000 worth of
pots obviously is a greater risk than a potter selling $10,000, or at
least that is what the insurance companies think. Small sales mean cheap
insurance.
When giving workshops in New Zealand I would often get into
discussions with potters there about the differences between being a
potter in North America and in N.Z. One of the aspects that potters down
under could not grast was our need to carry product liability.It is not
as socially acceptable to sue one another there, so it seems a none
issue to them. In the USA even if you are not doing the big shows, you
may want to have this coverage. If you make and sell pots as a business
you are liable for injury caused my your work. Not a pleasant thought
but reality. Check with whoever you get your homeowner insurace, they
will love to sell you more.
Robert Compton Phone: 802-453-3778
3600 Rt 116 http://homepages.together.net/~rcompton
Bristol, Vermont 05443 rcompton@together.net
Cheryl L Litman on sat 7 jun 97
I just recently purchased professional liability coverage for myself as a
traveling teacher. Although I'm sure that the coverage is a good idea
anyway, I was forced into it by a place where I sublet once a week for a
few classes. They wanted me to have $1M coverage with them named as
"additional insured". No one in NJ was interested in writing the policy
for less than $620 with $500,000 limits, additional insured costs another
$75. Minimum policy I was told. I know another potter is currently
paying $150/yr for $1M coverage. Her company wanted to charge me $825,
said she was grand-fathered! A friend got coverage 2 months earlier for
$300, her company also wanted the $620, said rates went up.
After about 3-4 dozen calls I found $2M coverage at $200/yr with each
additional insured only $15. I tried every agency in my local phone book
and kept hearing the $620 quoted over and over. I called the local SBA
office, called every traveling teacher I know and tried their companies,
called the Office of Women and Minority Businesses, called the SCORE
office, called the Department of Insurance & Banking. The guy who
answered said they couldn't recommend anyone but gave me the numbers for
the largest brokers in the state. The very last number I tried gave me
the $200 quote, all the others told me that if I could get $620, I should
grab it.
It was incredibly aggravating but I glad I didn't give up after the first
dozen calls. State Farm has had my car and house insurance since 1981
and wouldn't touch anything having to do with kids.
The broker who got me the great rate said that there is no category
"traveling teacher" so most of the other companies were putting me in the
category of child care where the rates are higher because of so many
molestation charges. She put me under the category tutor.
Lori and Rob on sat 14 jun 97
After several days in the studio I just finished sifting through all the
posts. I want to thank all those who responded to my question on
Product liability Insurance.
Thanks again for your help.
As always in clay,
Lori Lynn
| |
|
