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liability insurance
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Posted by Tom1953 5 (tomkat1974@adelphia.net) on Sun, Jan 2, 05 at 21:01
ANyone out there??
Does your farmers' market require you to have liability insurance or do they cover you??
Thanks for the info.
BTW HAPPY NEW YEAR!!!
Tom |
Follow-Up Postings:
RE: liability insurance
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| The market's insurance typically covers the market, not the farmer. |
RE: liability insurance
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| You have to present proof of insurance, naming the city as the insured, to participate in the Chicago farmers' market. If the actual market takes place in a school yard, the Board of Education also has to be named as insured. |
RE: liability insurance
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Where do you get your insurance?
Tom |
RE: liability insurance
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- Posted by Toyon z9 N. CA. (My Page) on
Mon, Jan 3, 05 at 19:54
| Insure against what? The attack of the killer tomatoes?. |
RE: liability insurance
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| No, against someone slipping on a tomato directly in front of your stall, which someone else dropped, but which came from YOUR stall! Or else, they dropped one of your melons on their toe and broke it. You can guarantee that you would be named in the suit!!! |
RE: liability insurance
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I've been wondering about liability insurance too. Last year we didn't buy extra liabiltiy insurance because the market we sold at didn't require it. Another market we are considering requires $1M liability insurance. According to our agent that much would cost around $300 if added to our farm policy. Is that the normal cost?
Sherry |
RE: liability insurance
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Hello All, and happy new year!
The market nearest to me requires liability insurance. How much is enough? The market doesn't specify. What is the best place to get it? Are there national carriers or are the local (Allstate, Alfa, Farmers Life(???)) carriers the best ones to use? I don't have a farm policy, should it be added to home owners? BTW Heirloom Lady, please tell me that $300 is a yearly rate. Not a seasonal one. Also since I don't make any products like jam or bread, should I have less liability? Thanks in advance |
RE: liability insurance
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$300 was the annual rate I was quoted by Sate Farm to add $1M liability to my farm policy. I thought maybe there is a carrier that specializes in this type of coverage for growers that would be cheaper. Some markets cover growers through their insurance--which was the case with our market last year. This year we also plan to sell to restaurants, so we really need the liability coverage.
Sherry |
RE: liability insurance
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| If, when you add up all your assets, they come to more than one million dollars, even if it's only on paper, or if you REALLY want to be protected, then you need more then $1M coverage. It can happen that the putative plaintiff will be awarded more than your assets can cover. You don't want to be left destitute because of an acident, or an over-large award - juries are noted for a lack of common sense when it comes to damage awards. This is why many people set up corporations to do business - only the corporation assets can be awarded, not their personal ones. |
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