Farm fresh vegetables, baked goods, cold-pressed lemonade, and homemade meals draw the crowds at farmers markets. The aroma of baked bread, crisp apples, and farm-fresh healthy produce represent farms, home-based bakers, and other small businesses.
Does your business frequent farmers markets? If so, you are exposed to several different types of claims and risks.
Common Farmers Market Claims
Listed below are several different examples of farmers market claims and how you can protect your business from them.
Equipment Claims
Your equipment is one of the most important aspects of your business. Without it, you can’t make your baked goods or specialty items. If you can’t do that, then you can’t bring your business to the farmers market. This can result in lost money and unhappy customers.
Common equipment claims can include a damaged oven or mixer. If you bring your food trailer, skillet, or other equipment to heat and make food at the farmers market then your risk for damaged equipment is even higher.
Risk cannot always be avoided, no matter how much you prepare. Claims will always happen. So, since you can’t predict a claim, protect yourself from them with farmers’ market insurance. Insurance for farmers’ markets provides businesses with general liability insurance, product liability insurance, and more. These coverages can help mitigate or even eliminate out-of-pocket costs such as attorney fees and medical bills.
Theft
Even the most vigilant business owner is susceptible to theft. In order to make your farmers market insurance for you, you must be able to prove any theft-related claims.
Fire
Equipment damage caused by fire is unfortunate and expensive. Luckily for you, insurance for farmers’ markets can provide equipment damage coverage that includes fire damage.
Hail
Hail damage is often surprising and unforeseeable. Protect your business with 365 days of insurance coverage with a farmers market insurance policy.
General Liability Claims
When talking about claims, the most common are general liability claims. You may be wondering what general liability is. Well, general liability is insurance coverage designed to protect against third-party bodily injury claims and property damage claims. These types of claims are most common for business owners. Listed below are some examples of general liability claims and how farmers’ market insurance can help protect you from their financial strain.
Customer Injury
Picture this: while at your local farmers market you set up your booth of homemade cinnamon rolls. You have a portable cooler to keep your cream cheese-frosted cinnamon rolls cold and fresh. Unfortunately, you were running late and forgot to secure the power cord for the cooler. A customer trips over the cord and sprains their ankle. They sue you as the cause of the injury.
Without general liability insurance, this claim could cost you thousands of dollars. However, with insurance, all you have to do is file a claim and let your insurance take care of the rest.
Property Damage
Property damage claims are among the most common and luckily for you, you can help prevent the financial strain of these claims from affecting your business operations. If a customer accidentally causes damage to your business property the cost can be mitigated or even eliminated through farmers’ market insurance.
Without general liability insurance, this claim could cost you thousands of dollars. However, with insurance, all you have to do is file a claim and let your insurance take care of the rest.
Damage to Your Rented Space (Additional insureds)
With FLIP you have access to free unlimited additional insureds. An additional insured is an event organizer or property owner who requires you to extend your coverage to them in case of property damage or if someone gets hurt and sues the vendor and event. This is standard practice in the industry and FLIP understands that you may attend several different farmers’ markets. That is why you can add an unlimited number of additional insureds for no extra cost.
So, if you cause damage to someone else’s property because of your business operations, no need to worry, we have you covered.
To Sum It Up
Yes, you can run your business without farmers’ market insurance, but it’ll be very expensive. It is found that on average, 1 in 3 small businesses will face an insurable event. Don’t be caught off guard, protect your business today with insurance for farmers’ markets from FLIP.
