Community events such as art shows, craft fairs, and others offer opportunities for professional artisans to promote their business. As insurance experts who work with artists and crafters, we understand how important these events are, but we can also foresee the problems an artist or crafter might run into if they do not have appropriate liability insurance.
What is liability insurance? Liability insurance provides protection to the the policyholder in the event that they are determined responsible for damages caused by some form of negligence on their part. These liabilities can include damage to a third-party's property or to a third-party's person. Even the most careful and responsible vendors risk being held liable for an accident involving their business.
Here are three reasons why artists and crafters should have liability insurance before heading to their next event:
1. Liability insurance is a requirement for most arts and crafts shows.
Whether it's because of local law regulations or a precaution the event managers are taking, if an event lists liability insurance as a requirement, then vendors will be required to get coverage before setting up a booth at the event.
Another important thing to know is that events may also (and often do) require an insurance policy that covers not just the vendor and their business, but also the event's name and location. This kind of requirement is what's called listing the event as an additional insured. Having an additional insured on a policy simply means that the policy extends to the listed person or organization, to which they are protected from lawsuits caused by the policyholder's actions.
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