If you are looking for insurance for your business and handmade products, what should you look for? What's important? How do you compare the different options you might have? Read on.
If you manufacture or sell handmade soaps or cosmetics to anyone, you need the protection that comes from having insurance. If you don’t have insurance and something goes wrong - a client claims your soap gave them an allergic reaction, someone claims you mislabeled your product, etc. - your business assets could be in jeopardy. Don’t take that chance. Insurance provides safeguards that can not only protect your business finances, but it also gives peace of mind as you manufacture and sell your products.
Finding the right insurance policy isn’t as difficult as you might think. While there are many insurance companies that will offer you insurance, the most important thing to look at is the coverages and the coverage limits the policy offers. Some of the coverages that should be included in your policy include:
Having insurance won’t do you any good if your policy doesn’t include the right coverages and coverage limits. For example, some insurance companies do not include Business Personal Property/Inland Marine in their policy. This coverage protects your supplies, equipment, inventory, and other property you need for your business. If these items are stolen or damaged, it could do serious harm to your business. If you have that coverage in your policy, however, it will be a lot less stressful.
While coverages and coverage limits are the most important factor to look at when choosing a policy, there are other important considerations to think about as well. Some important questions to ask yourself about the policies you are looking at include:
These are just a few of the other factors you should consider when deciding which policy is right for you. By doing some research and looking closely at the policy details, you should be able to find the right insurance for your business.
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