Crafters insurance cost

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Your crafting business may have begun as a hobby, but the minute you sell one of your handmade products, your labor of love becomes a business. We’ve painstakingly hand-crafted insurance for the specific risks that your crafting business faces every day. Below, we’ll share how much Crafters Insurance costs, the factors that determine your premium, and the types of coverages that are included in your policy. Bring out your chalk markers and take notes.

How much does Crafters Insurance cost?

Just as no two handmade creations are identical, crafting businesses can be quite different from one another. As a result, the cost of Crafters Insurance can vary. Here are the average monthly costs for Crafters Insurance by trade, which include product liability coverage:

ProfessionPremium
Candle Maker$80.44
Soap Maker$60.45
Jewelry Maker$33.06
Leather Maker$31.32
Apparel Maker$30.81

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What factors influence Crafters Insurance cost?

The cost of your Crafters Insurance policy depends on the type of handmade products you offer and the size of your business. Here are some additional factors we’ll consider when determining the price of Crafters Insurance:

Business location

Your location is something we consider when determining your cost. We’ll look at where your workshop or studio is located (urban, suburban, or rural) and take into consideration all adjacent exposures.

Policy length

At Thimble, you can get coverage by the job, month, or year. Longer policies may cost more, but they also ensure that you don’t have gaps in coverage. Also, keep in mind that product liability insurance (explained below) is only available with our monthly policies.

Size of your team

If you have a big team, the risk of an accident tends to be higher, and this will increase your Crafters Insurance cost.

Amount of coverage needed

Higher policy amounts carry higher premiums, but that means you’ll have more coverage should something unexpected occur.

What does Crafters Insurance cover?

Thimble’s Crafters Insurance protects your business from the financial impact of accidents. Crafters Insurance combines different coverage types into a single policy, tailor-made for you. Here’s what it includes:

General Liability Insurance

General Liability Insurance

General liability insurance or “CGL” provides coverage against third-party claims for property damage, bodily injury, and personal and advertising injury. That means the everyday accidents that can happen on the job: slip and falls, flying tools, or spilling coffee on a customer’s laptop—you get the idea. CGL is one of the most basic types of insurance for small businesses.

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Product Liability Insurance

Product liability protects makers against the costly consequences of injury or damage arising after the sale of a product, for example, jewelry, candles, or soap; available as part of general liability insurance coverage.

We’re hands-on, just like you

Kudos — You’ve found a way to make money from something you’re passionate about! At Thimble, we’re pretty passionate about crafting insurance products to cover businesses just like yours. Our Crafters Insurance includes general liability insurance and product liability insurance to help you protect your passion project.

We like to make things easy for you so you can keep your focus on your wares. At Thimble, we ask fewer questions and put you in control of modifying, pausing and canceling your policy from your app. Click “Get a Quote” or download our app. Answer a few questions and get the coverage you need in minutes.

Crafters Insurance cost FAQs

Why do crafters need insurance?

If you accept money in exchange for your products, then you’re a business. Crafters Insurance is a convenient and affordable way to help protect you from having to pay out-of-pocket for costly lawsuits or settlements.

I’m having an “open house” at my workshop. Am I covered by Crafters Insurance?

If you are the organizer of the event, Crafters Insurance should cover you. However, if someone else organizes the event, you will need to make sure they purchase event insurance and add you to their policy as an Additional Insured.

Do I need Crafters Insurance if I work out of a studio in my home?

Even if you operate your crafting business out of your residence, your homeowners or renters policy may not cover your business. Check the details of your policy closely and consider Crafters Insurance to ensure you have the coverage you need.

I’m planning to rent a booth at a craft fair. Do I need to buy Crafters Insurance?

You should strongly consider it. Not only might the organizer require it, but you are exposing yourself to greater risk when there are people bustling around a busy fair.

How do I show proof of coverage if I purchase Crafters Insurance?

Once you purchase a policy from Thimble, you can download a certificate of liability insurance online or within our app anytime. Download as many COIs as you need at no additional charge.

Who is covered under Crafters Insurance?

We cover makers of candles, soap, jewelry, leather goods, and apparel (with some exceptions, like baby clothes).