Do you have insurance for your business?

[danielle22033]

I am wondering if any fellow soap making business owners have insurance? Is this something I should get when starting small? It is a necessity? is the risk worth or not worth it. And if you don't mind sharing, if you do have it how much do you get charged monthly?

Thanks

 

[meeplesoap]

Insurance is a necessity. Especially when you are selling a product that someone is putting directly on their body or the bodies of the children/pets. Could you afford a million dollar judgement against you because someone got soap in their eye and was blinded? Or slipped in the shower over your sugar scrub and broke their leg? Their personal insurance will sue you, they don't even have to!

Like it or not, it is the reality that we live with (in the US, which I am assuming you are from.) So no, I would not sell a single sliver without it, and the applicable business license, paying my taxes, etc. When I see people operating a food/soap/body care business on the fly, I feel sick to my stomach at the enormous risk they are taking, often without even realizing it!

I use Indie Beauty Network. I have two million in coverage for about $500/year. That's $42 a month, thereabouts.

 

[danielle22033]

I guess I should have stated where I live. Which is Ontario, Canada

 

[jcandleattic]

It is a necessity? is the risk worth or not worth it.
Thanks

Ask yourself this and you will have your answer - is it worth losing your home and livelihood over a single bar of soap that you have sold?
Because that's all it takes for someone to sue, and it doesn't matter who's fault it is, or what the circumstances are. No insurance, no protection.

JMO - we live in a sue-happy society and for me personally, no, it is not worth the risk.

 

[Mommysoaper]

I have my insurance through the soapmaker's guild and it's $500 a year and that is including membership into the guild.