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Artisans craft unique items. You use a variety of tools and materials to do so. It is hard to put a dollar amount on the value of art. However, if you sell those pieces, you're a professional artisan. That means you may need to invest in business insurance.

Proper insurance protects your investment and reduces your liability. Even a small provider still needs to safeguard from some common risks.

Do You Own or Lease Property?

A key component of business insurance for artisans is property protection. Many artisans work in a specific building. You may own this space or rent it. You need to ensure comprehensive property insurance is in place no matter what. It protects the structure if you own the building. It also usually protects what's inside the building. This includes your equipment, furnishings, and materials.

Do You Travel?

Some artisans travel significantly to show off their wares. If you do, commercial auto insurance may help reduce risks to your vehicle. This is most important for businesses with larger trucks and vans. It applies to anyone who routinely uses a vehicle for business purposes. It protects the vehicle itself from damage. It also protects the items within it. It provides liability insurance as well.

Do You Know Your Risks?

General liability insurance for artisans is also important. It protects against claims made against you. Artisans are at a moderate risk here. Your product may hurt someone. Someone may fall when walking through your gallery. You may need ample coverage to minimize costs should someone suffer an injury.

You may also need workers compensation coverage. Some organizations need coverage for professional liability. Ensure your business has a customized plan to represent your risks. Your agent can help make that possible for you.

BOP Can Help

Business insurance for artisans is available through a business owner's policy. Often called BOP, it provides most of the different types of coverage you need. It keeps things more streamlined by placing this individual coverage into one policy. BOPs also tend to cost less than having individual policies. You can still customize it. Your business insurance agent will work with you. He or she will give you recommendations on using BOP for your needs.

Nonetheless, you may not adequately benefit from this policy. It may not be enough to comprehensively cover your risks. Therefore, take the time to talk to your agent about the benefits of this policy.

Artisans create, but they still operate a business. Do not overlook the importance of having a quality business insurance plan. A single claim could otherwise put your business on the line. Avoid this by investing wisely in better coverage.
Posted 7:44 PM

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