Many have asked about this and now a smart insurance company has finally put together an insurance program for all types of farmers markets vendors! The program provides the vendors with group rates for $1,000,000 in general and product liability per occurrence with a $2,000,000 annual aggregate limit and a zero deductible. This will cover the vendors while at all markets that they participate in. Note that there is no limit on the number of markets in which you can participate. The only requirement is that all such markets must be listed on your application for coverage to be provided. The cost of the policy is $350 per year for vendors that generate less than $100,000 total annual sales at the markets listed. For those vendors that generate in excess of $100,000 in annual sales, the cost of the policy will increase at a rate of approximately $5 per thousand of sales.
Premiums are paid annually and once coverage is extended, the premium is fully earned and non-refundable. Coverage is provided by an A rated insurance company.
The policy will also name the market as an additional insured so that in the event of a product liability or general liability suit where both parties are named, the market is covered.
Visit their website www.campbellriskmanagement.com for more information and vendor insurance applications, or call or email the person below for more information.
Campbell Risk Management
800-730-7475 ext 203