[0:1:05] What is insurance? Insurance is the best approach to protect your company and yourself against lawsuits and manage the risk to your business—which most frequently results from litigation over someone tripping and falling near your booth or maybe getting hurt by your product.

[0:1:41] Who is ACT insurance for? ACTinsurance is for artisan crafters, or anyone who makes something and wants to sell it! There are two different types of insurance - short term, aka “show policy,” is meant for vendors and crafters that may not need a full insurance policy yet, but they just need to get into a show. This is known as general liability, and it is used to defend your company against lawsuits brought by third parties, vendors, people, or the venue. For instance, the venue claims that your booth or your product scratched up their floor. The second choice is a more comprehensive annual policy that covers general liability AND product liability for all of your events, including personal property, inventory, supplies, and everyday equipment.

[0:4:37] Does ACT insurance cover retail store owners? If you physically own the retail store and operate it , the insurance would be different. The ACT insurance program, however, is applicable to any small or home-based company, consignment shop, or internet shop like Etsy. This program does not work for you if you manage and control your own retail establishment, such as an art gallery, for example.

[0:5:29] How does it protect you in an online space? Assume your goods injured someone or were not as described, resulting in the customer being dissatisfied all the way down to a lost shipment. ACT insurance will help to protect that.

[0:6:19] Does ACT insurance cover service based businesses as well? The ACT program is designed for product-based businesses, but if you are a service-based vendor attending a craft fair, you can purchase a shell policy to cover general liability at that event. However, those services are not covered by ACT annual.

[0:8:54] What is the difference between, you know, getting an LLC for your business, versus getting insurance? Insurance protects you, your spouse and children, members of your LLC, their spouse and children, and your employees. Alternatively, an LLC is a business entity that establishes your company but provides no protection against lawsuits or claims against your business insurance. Your LLC may not provide protection to all of those individuals, and your LLC may not cover defense costs.

[0:13:15] Why should I start purchasing insurance for every show moving forward? A growing number of venues and event directors require insurance to protect themselves from customer lawsuits. Above all, to protect yourself, your business, and to keep you in business if anything unexpected and unforeseeable happens.