Artist Insurance and Theft: What You Need to Know

Artists and crafters often purchase annual liability insurance so that they can qualify to attend art and craft shows, and they may not realize that this insurance coverage can protect their business in ways they may not have thought of.

One of these benefits of artist insurance is that it can protect the policyholder from theft at a show, at home, or in transit.

Document the Theft

It is important not to confuse protection against theft with protection against mysterious disappearance. Most policies, including the ACT policy, will only cover theft, which means that there must be documented, visual evidence of the theft in order to be reimbursed.

So, if you discover that someone has broken into your studio or your vehicle and stolen your work or your supplies, call the police and report the theft and take pictures of any damage the thief caused as evidence of the crime.

Keep Accurate Records

A general liability policy will reimburse the value of supplies and materials that were stolen. It will not reimburse the retail value of your work.

In order to be reimbursed, you must have the receipts for the supplies and the materials you use. It’s also wise to keep those for tax purposes. To read more about that: check out our blog post on artists and taxes.

It is also helpful if you keep take pictures of all of your work and keep records of its dimensions and the materials used to make it.

Protect Your Work from Theft During the Show or Fair

Because theft at art and craft shows is fairly common, and it is almost impossible to document these cases, it is essential that you take the right steps to protect your items from theft during your event.

A few tips to prevent theft during the show:

1. Greet every patron who comes to your booth. Entrepreneur Magazine quotes security expert Chris McGoey saying, “Don’t just shout “Good morning” over your shoulder, but make eye contact and greet customers like you are happy to see them.” This simple step can discourage a potential thief because it keeps them from feeling anonymous.
2. Entrepreneur magazine also emphasizes the importance of keeping your store [or, in this case, your craft booth] neat and orderly. This allows you to immediately spot a place where something has gone missing. This may discourage thieves because they will know that you will notice immediately if something is gone.
3. Make sure that you arrange your booth in a way that allows you to serve your customers while keeping an eye on your inventory.
4. Never leave your booth unattended.

We hope this is helpful. Good luck artists and stay safe on the road this summer!