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Candle Making Insurance
A vital part of any business whether you’re big or small is insurance. Without it, you simply aren’t covered if something was to go wrong. Becoming involved in crafts is growing more and more popular each year with thousands of people deciding to set up their own businesses. But whether craft making is just a hobby or a full-time job, if you are selling your finished products to the public, it’s vital that you have insurance, and the right policy to cover your needs.
Even if you don’t see yourself as a big or established business, you’re still under the same legal obligations as any other business out there but that doesn’t mean that you’ll have to pay the same insurance costs. Often, for Arts and Crafts Insurance policies you can customise them to suit your own individual business, that way you’ll only end up paying for what you need. Once you’ve found the policy that works for you, you’ll only have to pay one monthly or annual premium, with one renewal date, making life a whole lot easier for you. Whether you choose to insure your products, your equipment or your premises, once you’ve got over the first hurdle, paying your insurance will be a breeze.
So why do I need insurance? Quite simply, if a claim was made against you by a customer because they became ill or injured as a result of the products you make and sell, you could be faced with some extremely expensive costs, potentially putting you out of business before you’ve even got started. It's also worth noting that often, you’ll need proof of public liability insurance for things such as craft fairs and market stalls. Most event organisers required this before you’re even allowed to set up a pitch.
There are a whole host of different types of insurance policies that you can opt for, it's just a case of finding the one that suits you and your businesses requirements. There’s everything from cyber cover to legal expenses, building cover to theft of takings, you’ll just need to weigh up what areas you’ll need to have covered. It’s worth shopping around for insurance to make sure you’re getting the best deal, there are a whole host of tools online that you can use to compare policies, you just need to get stuck in!
It’s important to remember that you’ll still have to hold up your side of the insurance policy you opt for to ensure that you’re covered. Failing to provide your products with assets such as warning labels and CLP’s can void your insurance leaving you without cover if something was to go wrong, so it's best to make sure you’re doing your best to be compliant with your insurance provider. If you’re new to candle making and want to know more about what safety and warning labels you need to include when selling your items you can read more about it in our blog; CLPs: Getting your label right first time.