Increasing consumer interest in eating more fresh food, buying locally and consuming organic produce and meat have revived farmers’ markets. In fact, the USDA says that there were over 7,000 farmers’ markets operating in the US in 2011, and this was up from about 3,000 in 2001. Sometimes these markets only have one large vendor, but they often include several different stalls with produce, meat and even prepared food and crafts for sale.
These markets provide a great way for consumers to mix with the community, support local producers and know exactly where their food comes from. They can even be a lot of fun. If you run one, make sure that you can enjoy the experience by reducing your risks with the right farmers’ market insurance.
How to Buy Farmers’ Market Insurance
- Product liability: This covers claims that products sold at the market injured a customer in some way.
- General liability: This covers claims that a market visitor suffered an injury or property damage.
- Extends to vendors: In many cases, vendors and the actual market owner must get their own policies.
If you run a market, and you only carry market liability insurance, you should ask each of your vendors to also prove that they have purchased coverage before renting them a stand.
What Should Vendors Know?
Note that some insurers may extend coverage for small vendors as an option on their homeowners or farm insurance policies. If you run a small stand on your own and set up shop at farmers markets, make sure that you let your insurer know to be certain you are properly covered in both cases.
What About Property Insurance?
Liability insurance covers you in case another party claims that you caused them damage or an injury. However, you should also ask your agent how your property gets covered in case of a theft, fire, act of vandalism, flood or other threat.
Let us Help You Insure Your Farmers’ Market or Vendor Stand
At Basi Insurance, we combine just the right mix of experience to help you properly insure a farmers’ market, roadside stand or vendor stall. We focus on providing excellent customer service and a dedication to finding each client the right coverage at the right price. We can also help you with home, business, and auto insurance, so contact us at your earliest convenience for advice and free rate quotes.
Sources: Farmers Market stats and insurance: http://www.farmersmarketinsurenow.com/why-you-need-farmers-insurance/