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