Cramped flea markets, heaving food fairs and vibrant craft exhibitions – the UK’s market scene is as well-populated and embraced as ever, with stallholders peddling everything from artisan bread to handmade iPad covers.
But while the stock may vary wildly – a successful day’s trading will always hinge on the quality of the products, customer interaction, painstaking organisation, safety and security. Insurance doesn’t need to cost a lot to protect these areas, but it can offer an indispensable and in some regards mandatory contribution to your business plan, however modest or ambitious they may be.
Just as with any permanent work premises, stallholders need an employers’ liability certificate if they have anyone helping out on the store. Useful at such times as when your handy helper slips on some gravy, the only time where this doesn’t apply is when it’s a family member.
Any van or vehicle you’re using must be insured for business use, otherwise any problems you have driving to and from your pitch, or food, artwork or other stock you’re transporting won’t be covered.
If you have a long term pitch at a busy city centre market where parking is likely scarce, it can make more sense to do without a van altogether and rely instead on couriers. That way you’re not having to pay for insurance, tax and parking. Just make sure you check that any couriers you use are adequately insured, in case there’s any damage to your stock while in transit.
Public and product liability are not obligatory – necessarily – nor is stock or premises cover. This can vary depending on where you’re pitched, as some market managers will insist that you have this insurance in place.
It goes without saying that all these covers are pretty essential none the less, coming into play if a customer cuts themselves on a bespoke wind chime made from tin cans, or trips over a stray cable. Market stall cover packages will also likely cover your premises and stock from damage caused by water or fire, providing you have not been careless with over-enthusiastic festooning or have extension cables dangling over a hotplate.
Theft is a trickier area, but can be covered providing you’ve got the right security measures in place as per policy stipulations. This means that if you have your takings stashed in an unsecured Tupperware box below the counter and it’s stolen, you’re unlikely to be covered.
And if you’ve pinned all your hopes on taking a healthy profit from a particular event which is then cancelled, you won’t be left out of pocket for the provisions you’ve already made if you have cancellation cover in place.
Insurance policies can vary so it’s important to check the small print before you buy. If you’re unsure as to what is classed as an “essential” or which “good-to-haves” you should really think about for your stall, contact our friendly, local staff on 0800 281 453, or send us an email at firstname.lastname@example.org.
We’re happy to advise over the phone or email, and can make sure you’re protected with very little effort on your part should you decide it would be a good idea.