Whether you are a prominent candlemaker, soapmaker, or any other artisan, chances are you will find space in a flea market. The allure of being a vendor at a flea market is evident as there's the potential to make a ton of money and ultimately scale your business.
Whether it be held during a festival or a sports event, a flea market presents vendors with unprecedented risks. This necessitates the need for flea market insurance.
Think of flea market vendor insurance as specialty vendor insurance specifically for those participating in the flea market. This policy is designed to protect financial assets and essential investments for the said flea market. Overall, finding the right insurance policy for your flea market is integral in ensuring you protect your business and achieve long-term success.
As you embark on a flea market insurance application, it would be best to understand the different policies available. This guide will explain each one in detail.
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While at the flea market, there are a number of potential risks that you are exposed to. These will include:
Customer personal injury claims as a result of an accident
Damage to site property
Lawsuits as a result of defective products
Community lawsuits
General liability insurance for flea markets should comprehensively protect you from these. While your business is not legally required to have this, it's not recommended to operate without it. If your business ends up facing a claim, you are at risk of ending up with a mountain of expenses. Having the right general liability insurance policy for your flea market business should be able to help you cover the following:
Third-party personal injuries - In personal injury claims, general liability insurance will help you cover the aggrieved party’s medical expenses such as emergency treatment and medication
Third-party property damage - In property damage claims, general liability insurance will help you reimburse the value of the aggrieved party’s destroyed property
Legal expenses - If the aggrieved party decides to take legal recourse, general liability insurance will cover attorney fees, settlements, administrative costs, and other expenses on your behalf
Flea market general liability insurance offers optional policies - advertising injury coverage and rented premises liability coverage.
Advertising injury coverage will help if you’re sued for copyright infringement, slander, libel, false advertising, and other related offenses. In practice, this insurance will cover attorney fees, administrative costs, and other legal expenses on your behalf.
As for rented premises liability coverage, this will cover reimbursements if the policyholder is renting or leasing a commercial space that then becomes damaged because of a fire.
Public liability insurance is another liability coverage available for you. It works the same way as general liability insurance. Nonetheless, public liability insurance is more limited in terms of what perils are covered because you can’t add advertising injury coverage or rented premises liability coverage to it.
Liquor liability insurance is useful if you’re planning to sell alcoholic beverages. This insurance will cover the medical expenses or property damage of persons who injured themselves due to drunkenness or become intoxicated and are blaming your business. Specific expenses covered are legal defense and the medication or property damage reimbursement for aggrieved third parties.
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Your flea market business depends on equipment and supplies to keep running. When these are damaged by unexpected events, such as a fire, your commercial property insurance provider will meet the cost of replacing these.
There are two coverages in commercial property insurance for flea markets:
Business equipment and tools coverage
Stocks and contents coverage
Business equipment and tools coverage in commercial property insurance will recoup losses up to the insurance limits stated if business equipment and tools become lost or damaged due to fire, theft, vandalism, extreme weather, and other covered perils.
Stocks and contents coverage is an insurance for the tangible products sold during a flea market. When such products become lost or damaged due to fire, theft, vandalism, and other covered perils, stocks and contents coverage will reimburse their value.
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In most states, you are required to carry workers' compensation insurance. Getting workers' compensation policy is a step in the right direction when it comes to meeting the legal obligations needed. Besides, your employees get to have the required protection when it comes to injuries or diseases while carrying out job-related activities. This policy will cover the following on your behalf:
Medical expenses - Your employee will experience muscle overuse injuries, cuts, or fractures while working. It’s also possible for them to experience work-related sicknesses such as heat stroke or fatigue. In connection, workers' compensation insurance will provide the money you can use to pay for the medical treatment/procedure an injured or sick employee needs
Hospitalization - An injured or sick employee might need to stay in the hospital to fully recover from a work-related injury or disease. In this scenario, workers' compensation insurance provides help by giving the money you can use to cover hospital bills
Medication - While in the hospital or healing at home, your employee will need medicines to fully recover from a work-related injury or disease. Workers' compensation insurance is useful in this case. It will provide the funds needed to buy medicines no matter how costly
Rehabilitation - Rehab will be required if your employee experiences a work-related injury or disease that results in the impairment of bodily functions. In such a situation, you can use workers' compensation insurance to cover therapist fees, rehab equipment, and other associated costs
Lost income compensation - If your employee can’t work due to a work-related injury or disease, workers' compensation insurance will help you cover lost wages. This insurance provides a weekly allowance equal to two-thirds or 67% of your employee’s average weekly wage. That said, if your employee makes $764 per week, weekly compensation for lost income will be $511.88
Death benefits - If your employee dies from a work-related injury or disease, workers' compensation insurance will cover funeral expenses and provide financial aid to dependents
Suppose you use a vehicle to, for instance, transport your wares. In that case, you should consider getting a commercial auto policy. Commercial auto insurance provides the following protections:
Auto liability coverage - This will protect you in the event that you or your employee gets into an accident while using the said commercial vehicle. If third parties are injured or had their property damaged because of the accident, auto liability coverage will cover medical expenses and reimbursements on your behalf. Note that protection won’t be provided if you caused the accident due to involvement in criminal activities (e.g. driving without a license or DUI)
Physical damage coverage - Physical damage coverage has two forms: collision and comprehensive. Collision physical damage coverage will cover repair or replacement expenses if your commercial vehicle got damaged due to a collision with a vehicle or an object. On the other hand, physical damage coverage will cover expenses if your commercial vehicle is damaged by fire, theft, vandalism, and other covered perils. Note that coverage doesn’t apply to aftermarket parts. Also, damage resulting from rollovers is excluded.
Emergency roadside assistance - Emergency roadside assistance will reimburse what you spend on battery jumpstart, towing, tire delivery, gas delivery, tire replacement, and other related services
MedPay/personal injury protection - MedPay/personal injury protection is protection for your commercial vehicle’s driver and passengers. MedPay covers medical and funeral expenses. Personal injury protection does the same but will also take care of lost income compensation, after-hospital visits, and more
This is an umbrella policy that should be able to pay for damages and expenses beyond the point to which your general liability insurance policy reaches. In the event that you don't have the umbrella policy, you might be forced to pay out of pocket for these costs.
Inland marine insurance protects your equipment, stock, tools, signage, and all the other equipment and tools you require for the flea market sale from loss or damage caused by theft, vandalism, and other covered perils while they are in transit to and from the flea market location.
Flea markets don't take place for long. This is why insurance companies offer short-term flea market insurance. This is available as a 24-hour, weekly, or monthly policy depending on your needs.
Inclusions in short-term flea market insurance are general liability insurance with liquor liability coverage and equipment breakdown insurance. You can get more protection by endorsing commercial property insurance and workers' compensation insurance.
Employees might sue for negligence after experiencing a work-related injury or disease. This is why you should consider getting employer’s liability insurance. Employer’s liability insurance will cover attorney fees, administrative costs, settlements, and other legal expenses.
Employment practices liability insurance will cover expenses if an employee sues you for wrongful termination, sexual harassment, and other acts that constitute a violation of employee rights. Again, this will cover attorney fees, compensatory payments, and administrative costs on your behalf.
Employee dishonesty insurance will recover losses in the event that an employee commits fraud, social engineering, theft, and other related crimes against you. Coverage applies whether you report a claim to the insurer when the crime has recently happened or the crime has long happened way before you discovered the repercussions.
General liability insurance is a primary requirement. You need to have at least $500,000 - $1 million coverage. Of course, you need to make sure that your general liability policy allows additional insureds to be added.
Flea markets are considered somewhat low-risk, which means that insuring your business should be relatively affordable. So, how much is flea market insurance?
On average, it will cost you $33 per month for $1 million general liability coverage. If you are on the yearly plan, you should part with $396 every year. For further ideas about the cost, take a look at the table below that shows the pricing of the best flea market insurance companies.
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| CoverWallet | $8 | $96 | Flea market insurance quotes comparison online |
| Thimble | $10 | $120 | Short-term flea market policies |
| Geico | $38 | $456 | Vendors and especially food truck and mobile food vendors, in need of bundling commercial auto and general liability policies |
| Allstate | $45 | $540 | Small and medium-sized flea market businesses |
| ACT | $80 | $960 | Food trucks and mobile food vendors |
| Nationwide | $90 | $1,080 | No deductibles |
Note that your flea market insurance cost depends on the type of coverage you require and what add-ons you need to fully address your flea market business needs. Other factors that will determine your flea market insurance cost include:
Location
Number of employees
General aggregate limit
Per-occurrence limit
Applicable deductibles
Consider partnering with an independent insurance agent, as they'd be instrumental in finding a flea market insurance policy that caters to both your business needs and budget.
Nonetheless, comparing quotes yourself is the best option for finding good coverage at the most reasonable rates. Starting doing so here. Just click the “Get Quotes” button, fill-up the form, and you’ll then receive the offers and pricing of the most trusted flea market insurance carriers.
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If you are in the market for a flea market insurance provider, here are the insurers you ought to consider. Read the reviews below to know their pros, cons, and pricing for a $1 million general liability insurance.
You can get several quotes from different providers, all done through an online application
A responsive online dashboard where you can manage your policy, pay premiums and file and manage your claims
Stable rates
Third-party partners underwrite the policy
Will relatively new, having only been started in 2015, CoverWallet does offer a competitive flea market insurance product. The different coverage options available include workers' compensation, commercial property and general liability, among others.
On average, with CoverWallet's flea market insurance, you will pay $8 per month for general liability coverage. You get a chance to talk to an insurance advisor over the phone or by live chat throughout the entire quote process. You can then submit your application but note that you will not receive a quote until you talk to a CoverWallet representative.
Best for: Fast quote comparison online
Average cost: $8 per month
Our rating: 10/10
Short-term flea market insurance coverage in under 60 seconds
You can get quotes and purchase coverage online via Thimble's official website or mobile application
You instantly get the Certificate of Insurance
Only general liability coverage is offered
Thimble started as a drone insurance provider in 2016 but has since evolved to cover other services, including flea markets. Your Thimble flea market insurance will be underwritten by Markel and National State Insurance and will cost you $10 per month.
What makes Thimble's flea market insurance offering stand out is the option of purchasing a cover for as short as just hours. This flexibility is particularly great for flea market vendors that only attend popups for short spans before moving on to the next.
Before purchasing Thimble flee market insurance, take note that it only offers $1 million or $2 million general liability coverage.
Best for: Short-term flea market policies
Average cost: $10 per month
Our rating: 9/10
Exemplary customer service
Above-average scores in claims handling
Zero deductibles
Flea market vendors are insured against theft or loss of property and flea market wares
Flea market vendors in Alaska, Hawaii or Louisiana are excluded from coverage
It doesn't cover mobile vendors
Founded in 1925, Nationwide Mutual Insurance Company, commonly referred to as Nationwide, is an American insurance and financial services company based in Columbus, Ohio.
Nationwide's flea market insurance offering stands out mainly due to the flexibility the policyholder can enjoy. You have the option of adding on policies to cover your premises, products and completed operations, as well as claims of false advertising. Additionally, you can purchase a short-term policy depending on your flea market business needs, as you have the opportunity of determining the depth and duration of your coverage.
A neat advantage of this flea market insurance policy is that there are no deductibles, and you get coverage in case of loss or damage of your property or wares.
Best for: No deductibles
Average cost: $90 per month
Our rating: 8/10
Specialty insurance product for artisans, crafters, and tradesmen who are highly likely to attend flea markets
Cheap policy plans
Poor customer service
ACT insurance is a company highly tailored for artisans, crafters and tradesmen located in Pleasant Grove, Utah. The insurer offers the fairest prices in the market, thus making it possible for small-scale vendors to purchase an insurance cover. With about $80, you should get a reasonably lean coverage enough to protect you against any claims filed due to your involvement with the flea market.
Best for: Flea market food trucks and mobile food vendors
Average cost: $80 per month
Our rating: 8/10
Prompt management of claims
Three policy options available for flea market vendors
Commercial property insurance coverage is not available
Allstate Insurance became a certified insurance carrier in 1931. Flea market vendors looking to work with Allstate Insurance for their flea market business have the option of choosing between several policies, including:
General liability
Standalone product liability
Commercial auto liability
Allstate's most competitive flea market insurance coverage will cost $45 per month on average.
Best for: Small and medium-sized flea market businesses
Average cost: $45 per month
Our rating: 7/10
Network of agents available in all 50 states
Mobile application that's accessible and easy-to-use
Possibility of bundling your policies for better rates
Flexible policies that make room to tailor-make customized flea market insurance policies
Poor communication, especially pertaining to changes in premium
Based in Chevy Chase, Maryland, Geico started underwriting insurance products in 1936. Its flea market insurance policy is desirable for mobile food cart vendors attending a flea market. These vendors are able to bundle their commercial auto and general liability insurance, which is, to say the least, relatively cost-effective. For general liability coverage, you'll pay on average $38.
Best for: Vendors and especially food truck and mobile food vendors, in need of bundling commercial auto and general liability policies
Average cost: $38 per month
Our rating: 7/10
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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