insurance blahs...

[pensterh]

Hi All -

Sorry to have fallen off the face of this earth after the WGconference (which rocked!). Was driving X-country and now just getting settled in a big 'ole artists loft in LA, CA...

I have a practical question about insurance, especially for you West-Coasters/Californians:

It seems from reading the archives and chatting with a few lawyer buddies that it's a good idea to get business umbrella liability insurance (particularily since I'm now going to be able to teach outta my home studio). Can anybody recommend a specific company that will offer this type of insurance, at a reasonable rate, to a relatively new small business that has never been covered before?

Any advice would be appreciated (I've called at least 4 companies who refused to insure me...)

and come by and visit if you're ever in LA, baby!
(just don't fall down the stairs and then sue me !!)

Thanks a bunch,
Penny
(pHglass@lycos.com till I get the website up+running)

[Amy Schleif-Mohr]

I don't live in CA, but you most likely will have to get commercial business insureance and then pay renter's insurance for your personal belongings.

Amy

[Susan Moore]

This is from the ACC website -
http://www.craftcouncil.org/html/join/p ... form.shtml

Property/Casualty Insurance
Discounted property/casualty insurance customized for craft artists (including jewelers). Coverage for business contents (on and off premises - while at shows or in transit), liability of $1,000,000, money and security, loss of income, and more. Call Hyisha Logan at the Managing Agency Group 800-274-6364 for a quote.

I've been calling around for insurance as well - apparently you have to really really want to be their customer because I have had difficulty getting quotes.

Good luck!

Susan

[Briana]

Penny,

I am new to this bulletin board, but found your posting while poking around. I've worked in the insurance industry in St. Louis MO (day job until the business gets on its feet) for 15 years. I'm not licensed in CA and don't know what they offer.

You mentioned that you had people coming to your home. There are some homeowners policies out there that can be endorsed for small businesses ran out of the home by individuals (not corps, LLC, etc.) Its not for high-volumn traffic. Usually these are set up for home business offices, but there may be some availability to artisians. If the "rider/endorsement" is available, check with the agent to see if a personal lines umbrella would "go over" that business exposure too.

Warning, many homeowners insurance companies do not like people runnning business that have a high-volumn of people coming onto the premises. Feel your agent out before admitting already starting the business. Tell them you are "thinking about it".

Otherwise, I would suggest obtaining a small "business owners policy". In the mid-west, and for midwest locals, they will usually be a minimum of $500. The policy covers both business personal property and general liability. General aggregate limits (the amount they will pay out per occurrence) can be purchased up to $1,000,000 with policy aggregates (the amount they will pay out in one policy term) of $2,000,000.

Also, there are certain amount limitations in homeowners policies for business personal property. Usually its real low (ie $2,500). By the time you add up your stock, computer and kiln, many people will max out more than that. There also many exclusions which are applicable to business. Depending on the policy, there could be no coverage at all.

Hope this helps.

Briana

[jj jacobs]

Hi Penny,

I live in Sacramento and have a business/artisan policy through Farmer's Insurance. It's in conjunction with my homeowner's policy and an umbrella policy and covers theft, injury to others, and a bunch of other stuff. Since I already had the homeowner's and umbrella policy in place, my broker just added the business/artisan rider when I converted/remodeled my garage into a glass studio.

I'm sure there are cheaper policies out there but with my past experience dealing with residential, commercial and industrial property management, Farmer's is one of the best to work with when there's a claim.

Welcome to California! What type of loft are you living in? Sacramento is just starting to build some and I want one!!!!!

JJ

[Kitty]

Used to be in 10,000 ft. above the produce market, 6th & Central. that was the first wave, 1979. we paid a penny a foot then. how times (and prices) have changed, eh?