Best Small Business Insurance
Best Small Business Insurance
Starting a farmers’ market is a great way to support local businesses while building a stronger community. Locals can get fresh fruits and vegetables, try new novelty dishes, and see what the local crafters have to offer. Add in a little music, maybe a kid’s activity, and you have a weekly event that people look forward to.
But with all that activity, accidents can and do happen. Farmers’ market insurance can protect the organizer from the financial consequences of claims.
There are ample ways for claims to arise, and Thimble’s Farmers’ Market Insurance is there to cover the organizer from accidents.
Farmers’ market insurance is a type of special event insurance covering liability claims that can occur from organizing the event. Claims may include:
Think about the various types of risks that happen at a farmers’ market. Vendors may spill water as they water plants or clean booth areas.
The weather may create slippery conditions. Someone could trip over a cord, or signs and decorations could fall on a guest.
When a claim arises, Farmers’ Market Insurance arranged by Thimble will provide the legal defense and investigation of claims (even if they’re unfounded), as well as payment for damages. Remember that as your farmers’ market grows, so does your exposure to claims.
Your farmers’ market offers a variety of produce and craft goods. And you can expect more than one type of coverage from your farmers’ market insurance policy. The coverages include these types of situations:
Non-employee bodily injury: If a customer trips on your tent pole and falls, they can become injured. You could be liable for their bodily injury, but your insurance can defend you.
Third-party property damage: A sign for the farmers’ market falls onto the tent of a vendor. The accident causes their potted plants to fall to the ground, breaking several hundred dollars worth of merchandise.
Liquor liability: Suppose one of your farmers’ market vendors sells alcohol and over-serves a guest with samples of cider and beer. If she sustains an injury as a result, you could be held liable—just because you’re the event organizer. Make sure that your vendors buy additional liquor liability insurance and that you are an Additional Insured on their policy.
Defense and investigation of claims
Anyone can make a claim, even if it isn’t valid. If you don’t have the resources to defend yourself, you could be left paying for the claim, even if you are not responsible for the damages. This coverage affords you legal defense and investigative services to protect you, even from fraudulent claims.
The cost of your farmers’ market insurance will depend on several factors. These include where the event is held, how many attendees there are, and how long the market lasts. Each will determine your premium.
Here is a range of Thimble Farmers’ Market Insurance costs without additional liquor liability:
Individuals who organize and plan farmers’ markets need this coverage. Coverage must extend from the time vendors begin to set up booths to when everything is over and people break down their spots. It doesn’t matter whether the market coordinator is a nonprofit or community organization, or the coordinator is a for-profit entity.
Vendors participating in a farmers’ market will need to get general liability insurance to cover their booth and participation in the event. This should include product liability coverage, which can protect them if someone gets sick with a smoothie because it was left out too long and became spoiled. If the vendors are selling goods such as candles, apparel, or jewelry, they may need additional coverage for their crafts.
You should ask your vendors for a Certificate of Insurance (COI) showing that their policy has a minimum of $1 million in liability coverage for the event. You should also require to be named as an Additional Insured on the vendors’ policies.
If you have employees working at your event, most states require you to have workers’ compensation coverage. (General liability insurance covers non-employee bodily injuries, but not injuries to your employees covered under workers’ compensation laws.)
Additionally, if you are sponsoring the farmers’ market but not necessarily opening a booth, you may want to get coverage if you have any responsibilities in setup, breakdown, or operations. As a sponsor, you can be dragged into a claim if someone feels your sponsorship led to an injury or property loss, or if the vendor responsible for the loss does not have insurance. In another scenario, the injured party may not know who the responsible vendor is or how to contact them, and, therefore, make the claim against you as the sponsor.
Farmers’ markets help communities remain sustainable and farmers’ market insurance helps organizers remain financially sustainable against claims. Thimble’s Farmers’ Market Insurance:
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Thimble’s special event insurance is designed for short-term needs. Our policies will cover your event for one day up to two weeks. That includes setup and breakdown time. Cancel your policy anytime before the event to get a refund.
Our liability limits start at $1 million per occurrence with a $1 million aggregate. You can increase the liability limits to $2 million with a $2 million aggregate if you choose. The limit for damage to premises rented to you is $100,000.
No. Our policies do not cover event cancellation. However, your event insurance policy is fully refundable as long as it is canceled before the event start date/time.
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