Farmers markets are the only places to buy fresh fruits and vegetables at affordable prices. But if you don’t have farmers market insurance, you could be out of luck when something goes wrong. Here are a few important tips on how to get the most out of your farmers market insurance policy.
1) Shop Around For A Good Deal
Shop around for different policies from various companies so you can compare apples-to-apples rates. You may also want to shop around by asking friends or family members who they use for their farm market insurance. They might know about other options in your area that aren’t listed online yet.
2) Make Sure That It’s Right For You
You need to make sure that the coverage is right for you. If it doesn’t cover everything you would like to protect against, it isn’t worth buying. Also, check out with your local government officials to see what types of risks they will insure. Some cities only offer liability insurance, while others include property damage as well.
3) Know What Type Of Coverage Is Best For You
There are two main categories of farmers market liability insurance: general liability and commercial auto. General liability covers any claims made against you because of injuries caused by someone else. Commercial auto protects you against damages done to vehicles used during sales events.
4) Consider Adding Additional Coverages
If you’re not already covered under homeowners’ insurance, adding additional coverages such as flood insurance and earthquake insurance can help reduce your risk exposure. Flooding and earthquakes happen more often than people realize. So even though these disasters are rare, having them included in your policy makes sense.
5) Be Aware Of Exclusions And Limitations
Exclusions and limitations exist within all insurance policies. These terms mean that certain situations won’t be covered by your policy. This includes anything related to intentional acts, natural disasters, and lawsuits brought by third parties. Read through your policy carefully to ensure that nothing falls outside its scope.
6) Check With An Agent Before Signing Up
It’s important to work with an agent who has experience working with farmers market insurance. He knows the ins and outs of this type of business better than anyone else. Plus, agents usually receive discounts off the standard rate.
7) Don’t Forget About Liability Protection!
Liability protection is one of the best ways to protect yourself financially. Even if you’ve never been sued, you still need to purchase this kind of coverage. The reason why? Insurance companies typically require a minimum level of coverage before issuing a policy. Without it, there’s no way to prove that you meet the requirements necessary to obtain a policy.
8) Keep Your Policy Updated
Make sure that you keep up with changes to your policy. Farmers market insurance tends to change frequently due to new laws being passed and updated regulations coming into effect. By keeping track of these updates, you’ll avoid paying higher premiums later down the road.
9) Get Quotes From Multiple Companies
When shopping for farmers market insurance, don’t just go with the first company that comes along. Instead, ask multiple providers for quotes.