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Whether you are a prominent candlemaker, soapmaker, or any other artisan, chances are you will find space in a flea market.
Beside the potential to make a ton of money a flea market presents vendors with unprecedented risks. This necessitates the need for flea market insurance.
As you embark on a flea market insurance application, it would be best to understand the different policies available. This article explains it in detail.
While at the flea market, there are a number of potential risks that you are exposed to. Having the right general liability insurance policy for your flea market business should be able to help you cover the following:
Flea market general liability insurance offers optional policies – advertising injury coverage and rented premises liability coverage.
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 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.
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.
Flea Market Workers’ Compensation Insurance
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. This policy will cover the following on your behalf:
Suppose you use a vehicle to, for instance, transport your wares. In that case, you should consider getting a commercial auto policy. It provides the following protections:
Get all the best quotes from leading providers in a click of a button!
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. 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
Other factors that will determine your flea market insurance cost include:
CoverWallet does offer a competitive flea market insurance product. The different coverage options available include workers’ compensation, commercial property and general liability, among others.
You get a chance to talk to an insurance advisor over the phone or by live chat throughout the entire quote process.
Average cost: $8 per month
Thimble flea market insurance will be underwritten by Markel and National State Insurance and will cost you $10 per month. Thimble’s flea market insurance stands out because of the option of purchasing a cover for as short as just hours. he next.
Before purchasing Thimble flee market insurance, take note that it only offers $1 million or $2 million general liability coverage.
Average cost: $10 per month
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.
Average cost: $90 per month
Flea market vendors looking to work with Allstate Insurance for their flea market business have the option of choosing between several policies, including:
Average cost: $45 per month
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.
Average cost: $38 per month
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
10 / 10
Great experience
6 / 10
Didn't relate to the concept much, but it makes sense if you need insurance to go
0 / 10
It doesn't really feel sustainable to me and doesn't offer business interruption, product liability and commercial property insurance. They have no local agents and despite their technology first approach you cannot file claims online. Additionally, product manufacturers are not covered by Thimble and they don't provide enterprise solutions.
10 / 10
As a contractor that works 3 times a week for a few hours, Thimble gets really handy for me and saves me money. I have no use for these massive business insurance coverages offered by traditional insurance companies.
10 / 10
Excellent concept which is useful to many small businesses!
10 / 10
Been waiting for this type of solution for a long time!
10 / 10
Love their business insurance solutions for freelancers! Great app!
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