Looking for Farmers Market Insurance?
As soon as warmer weather winks at us, it’s time for the Farmers Market, that open space where farmers and others eager to earn some income selling garden-picked fresh produce, oven-baked delicacies, prepared food selections . , drinks, fresh meat and fish, and even handicrafts, are displayed to passers-by in search of good deals.
Although the assortment displayed by vendors is varied, it is not everyone’s decision. Before displaying their products, vendors must comply with the guidelines of the market board members, as well as the local regulations established for the process of buying and selling the market.
Of course, the Farmers Market is vulnerable to exposure to all kinds of risks, be it theft, fire, storm damage, liability, and more.
The related insurance premiums are subject to a determination by the insurance companies in relation to the following:
• How many days per week or per month of activity in the Farmers
• How many vendors, workers, and customers are there in the market?
• The amount of insurance coverage being purchased
Like any business enterprise, the Farmers Market owner, manager, or vendor must do an honest analysis of what is going on and how it may relate to insurance protection.
Below are several forms of coverage that can belong to any provider or market operator.
The different forms of insurance coverage
1.Commercial property
This coverage can protect the owner/operator of the market, as well as the vendors. In the event of loss or damage to goods or property, you can reimburse up to the limits of any covered event.
2. Premises liability
This covers legal fees and court verdicts decided against the insured in a lawsuit related to liability for injuries, losses or damages to third parties.
3. Product Liability
This form of coverage protects the seller in the event their product is the subject of a lawsuit related to illness or injury.
4. Liquor Liability
This type of coverage protects the insured alcoholic beverage supplier from liability if someone purchases and imbues beer, wine, or another type of alcoholic beverage at the event and then causes an accident or injury to another person.
5. Workers Compensation
Workers Comp ensures that there will be funds for medical costs, lost wages for a worker who suffers an injury or illness as a result of employment. It also protects the market operator or seller in the event of a related lawsuit.
You have just enjoyed a brief overview of the various forms of insurance coverage from Farmers Market. For a more in-depth discussion of your particular situation and insurance needs, speak with an independent professional agent who can present you with a personalized policy at the most competitive price.