Tons of business is done at trade shows, events and concession stands. That is why event management software is so popular. For businesses large and small, these are opportunities to market or sell their offerings. In return for a see, they have access to a market inside of a venue. However, most venues will not provide insurance for the vendor participating in an any event.
Vendor Insurance Is Popular
Vendor liability insurance is popular for small companies. While large companies may have is this insurance that covers employee travels and exhibiting, many small companies do not have a large insurance umbrella package. For example, a small company that runs a business from home with no payment terminal in sight might not need a typical business insurance policy. However, a vendor liability insurance policy may be perfect for their needs.
Who Needs It?
There are several other businesses who could use a vendor liability insurance policy. Think about anyone who goes to do business outside of their own location. This could be a data consultant or corporate event planner. For example, farmers tend to go to farmer markets for they sell honey, jellies and other delicious items. They benefit from additional sales and marketing for their farm but, they may need a little liability coverage for when they are carrying out the vendor sales. That’s why, vendor business liability insurance is very popular in places like Colorado and the Midwest where farming is widespread.
What Does It Cover?
What does vendor liability insurance cover? Obviously, this will depend upon your specific plan. However, generally, vendor’s coverage protects you against any claims that result from a business participating in a public event. If someone trips over a wire from your event booth, vendor insurance covers you. If your laptop is stolen from your event booth, that will be covered too. Make sure you call the company’s live answering service to ask what specifically is covered when considering any vendor insurance plans.
Shopping for a vendor insurance is quite simple. You do not necessarily have to go through an insurance broker to research some of the larger company will offer coverage for vendors. As long as you are a small business, having a DBA sole proprietorship business license or LLC incorporation document, you are most likely eligible to purchase coverage for your company. Of course, you can always see the best state to incorporate your business.
Then, you can choose what pricing and package options work best for you. If you already have business insurance coverage, you can ask your current provider if they have solutions for vendor activities. When speaking to an Insurance sales representative, explain to them the nature of your business and where you sell. Depending on the trade shows, exhibits, concessions or event locations, they may have several options for vendor liability insurance.
Getting A License
To become a vendor, you need to how to get a street vendor license. Just as when you are a landlord, you need to have landlord insurance. Whether you plan on going to street fairs, community events, flea markets or any other vendor event, you are going to need a license. Make sure that you search requirements for your particular state so that you do not run into any legal trouble. Vendor insurance will not be of any help if you do not have a license. Be sure to get a license for vendors to be certain you are entirely protected, just in case.