Should Farmers Market Vendors Carry Product Liability Insurance?
Insurance for farmers’ market vendors allows them to protect their inventory and income from loss. Farmers’ markets are a great way to sell your product, but they can be risky business if you don’t have the proper coverage in place. The best option is to purchase an all-risk policy covering everything from property theft to natural disasters like floods or hurricanes. This type of policy will cover any damages of up to $500,000 per occurrence with no deductible. If you’re looking for more information on this topic, contact us today!
The vendor is a small business owner who has been selling products for years. They know the risks involved in running a stand like this:
- The risk that someone will slip on an apple.
- The risk is that they might get sick from eating something contaminated with E. coli.
- The risk is that their customers could be injured if they don’t wash their hands after handling food products.
But what about product liability insurance? Should they carry it?
Farmers’ Markets Are Risky Business
If you run a farmers’ market, there’s always some level of risk associated with doing so. You know that people come out because they want fresh fruits and vegetables, not just because they enjoy shopping at local businesses. They also expect quality goods, which means you need to make sure you take care when preparing those items. That doesn’t mean you have to worry too much about lawsuits, though. In fact, most states require sellers to hold general liability policies as part of their state licensing requirements. These policies generally protect against claims arising from bodily injury, personal injuries, advertising injury, medical expenses, property damage, and even death. However, these types of policies do little to help you defend yourself against product liability suits.
Product Liability Coverage Is Essential For Your Success
In order to avoid being sued by unhappy customers, you’ll need to ensure that you have adequate product liability coverage. An ideal policy will include provisions such as:
- An endorsement covering “products.”
- Coverages for defective design, faulty workmanship, failure to warn, and inadequate labeling
- Protection for third party beneficiaries
- Provision for defense costs
You may think that having product liability insurance would cost you money, but the truth is that it saves you time and resources. When you buy a policy through our agency, we handle every aspect of the claim process, including negotiating settlements and defending cases in court. We’ve helped many clients successfully navigate the legal system without incurring large attorney fees. And since we represent both plaintiffs and defendants, we understand how important it is to keep your case moving forward while protecting your rights. If you’re looking for more information on this topic, contact us today!