Insurance, when you're soap is in a store on consignment?

[NMAriel]

I've read some of the threads about insurance. What about the situation where you're not doing shows, not doing online selling, but put your soap in a store on consignment. Is that still a home business where your primary base is your home? On one of the threads there an inusrance company that will insurance home businesses, with 'temp' locations like shows.

Just wondering, just in case....

 

[heartsong]

x

tho each state's requirements are a little different, you are still a home-based business.

i get a $500,000 liability policy thru my homeowner's for $119. i would suggest talking to your agent before purchasing policy's elsewhere. some can be hideously expensive!

 

[Tabitha]

In re to a home based biz, it does not matter where you sell it, it matters where you make it.

 

[carillon]

I think there are a few different issues at play here. One is that you need liability insurance to protect yourself against lawsuits filed by someone who is injured by your product. Another issue is to protect your house against damage caused by chemical fire, for example. Lastly, since your items are on consignment, you might want insurance to protect you from loss caused by theft or damage to the store where the soaps are being sold.

I'm not sure of the technical names for each element, but they should all be discussed with your agent. They might all fall under one umbrella policy.

 

[Bigmoose]

I think if you even give a bar of soap away you should have insurance. If your homeowners ins will cover it that would be great. Otherwise you can check this company out. The plus side is they are low cost compaired to many. The down side is they don't cover you when sales reach a certain $$$ amount. They are a good starter company.

www.insuremyhomebiz.com

Bruce

 

[Lindy]

Initially my home insurance was supposed to cover the business - so everything was in place - then they came back and told us that their company couldn't cover the liability portion of the coverage due to "allergic" reaction and the fact that I can't control how people use the product - they could eat it!!!! So now I have to get my commercial insurance in place. Basically what I've been told is that people are far more likely to sue everyone in sight rather than take responsibility for their own actions and to insure that they read the ingredients list. :evil: :evil: :evil:

So, from what I'm learning here in the province of BC is that home insurance does not cover soap making, however, there are companies that do cover this as a commercial liability. The other thing I just found out that the brokers are expecting the insurance companies to start tightening up on what they are willing to cover as far as liability goes although if you are already on their books you should be okay.

As for consignment and market sales, the farmer's market that I'm getting involved with has some insurance for their participants, as long as they are members of the agricultural society.

Not sure that helped with the overall question, but since we're talking insurance I thought I would pass on what I am just learning.

Cheers
Lindy

 

[Guest]

I think if you even give a bar of soap away you should have insurance. If your homeowners ins will cover it that would be great. Otherwise you can check this company out. The plus side is they are low cost compaired to many. The down side is they don't cover you when sales reach a certain $$$ amount. They are a good starter company.

www.insuremyhomebiz.com

Bruce

This policy has a product liability exclusion....at least that is what the Web site says.....is there an area of the site that you know of, that says something different???