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Insurance for Jewellery Parties??

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  • Insurance for Jewellery Parties??

    Hi there, I have scoured this forum looking for advice on insurance but am still unclear and wonder if someone could possibly help me. I have been making jewellery which I have just been selling to family and friends. A few friends have said they'd like me to do jewellery parties for them which I am more than happy to do, but I feel if I am going to do this I want to do it properly and hopefully get more parties from these parties and branch out but am concerned about insurance. What if one of my necklaces snap and little Billy picks up a bead and chokes on it? What if my stand collapses on Auntie Mable? I have looked online for public liability insurance and it's so expensive, I'm not too sure I want to pay that at this stage in the game. Am I just panicking? Any advice please?

  • #2
    If you are selling to the public you must have pli much cheaper than being sued and losing your home. There are so many out there G M Imber, CMTA, Ian Wallace all for around £55.00 which as a business is not much for peace of mind. You must also be registered with the inland revenue as soon as you take money for goods made, unclear if you have done this or not, check out the business sections there are plenty of links on there to help you.

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    • #3
      Thanks for that info Caroline! I will check it out now!

      Laura

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      • #4
        it begs the question HOW the heck are we suposed to make any money at this? Unless we over price our items to cover our costs, and then no one will buy them cos they over priced!!!!!! I guess its back to doing it for the pleasure of doing it? and thats not a buseness its just being blinkerd and daft :-) opps guess i just upset 99% of the people on here :-( sorry i not trying to do that, but i am trying to make it a buseness
        Pauline (Deceased) and Charlie (wishing he was)
        www.crafty-bits.co.uk

        www.geckocards.co.uk Ps this link is to old site ( not there now)
        But it was Paulines so i cant delete it

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        • #5
          I don't think you will upset anyone Pauline but the law is the law and most of these insurances work out at about £1.00 per week, which I would rather pay than possibly lose my home if anything unfortunate happened. The same with registering as self employed, takes little effort then filling out the tax return once a year but again rather that then a big fine and all your personal finances scrutinized. Surely the cost of pli is negligible and should not impact on the prices of your goods to that extent.

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          • #6
            I have to agree with Caroline. I use CMTIA for my PLI and it costs me £48 a year. In these times of litigation and personal injury claims left right and centre, it is a very very small amount in comparison. This gives me £5,000,000 of cover. Mind you if I had that amount to spare, I guess I wouldn't worry about it so much!

            I pay more than this for about 75% of my fairs and the PLI lasts a year so I think it is a minimal outlay for anyone doing business in this field. Have to also agree about registering with HMRC - do it straight away and you won't run the risk of forgetting and getting a fine (which will cost more than your PLI too!)
            Ali x

            Etsy Shop: aliscraftstudio.etsy.com
            Facebook: AlisCraftStudio
            Follow me on Twitter:
            @AlisCraftStudio

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            • #7
              Not had time to read all the replies, so sorry if I'm repeating what others have said, but please be awre that CMTIA do not cover you unless you are at an organised market/fair. It won't cover you to do anything at home/in someone else's home. Worth checking with all providers really.
              Ballderdash & Bunting
              Twitter (Ballderdash & Bunting)
              [B]The Ark Man
              [FONT=Comic Sans MS]I am Ballderdash, the blog[COLOR=#0000CD]

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              • #8
                Business Insurance

                Hello Ljj2468,

                You aren't on your own when it comes to not being 100% clear business insurance - specifically public and product liability. I work for a business insurance broker so I thought I would give you a quick overview of them both.

                Public liability is designed to protect you against cost's arising from someone getting injured during one of your parties (table collapsing on Auntie Mable) or any damage that you cause to someone's house ( you accidently knock over a 56 inch plasma TV)

                Product Liability is designed to protect you if any of your products you sell causes an injury of some kind ( little billy chokes on a loose piece) This is as long as you source your materials from UK based sources.

                Most insurers will combine public and product liability into one policy. You will also find that nearly every trade show / event that you attend will request you have public liability in place before you can even set up.

                If you have any queries or questions please feel free to get in touch by sending a direct message or posting on this thread

                Kind Regards

                Tim

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                • #9
                  I went to GM Imber - they were really helpful, and I got public and product liability - with £5000000 public (essential for a great many craft events these days!), for the minute sum of £55! I think that is marvellous!
                  My Facebook page

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                  • #10
                    Thanks for our advice everyone! Tim when you say - ' This is as long as you source your materials from UK based sources'. Does that mean anything I buy from abroad isn't covered? I take it that if it has been bought from the UK but been sourced from abroad then that's ok? Soory to sound dim!

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                    • #11
                      hi ive just looked at GM Imber which policy should i go for /form download as i have recently begun to make jewellery from home i have sold a few pieces but i have no emplyees etc but i would like to try a craft fayre, please help x
                      https://www.facebook.com/pages/Craft...41589212564366

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