What are the costs of vendor insurance, then? With ACT, not much, to be honest. You’ll get some of the most robust vendor insurance on the market at an objectively cheap price.
You can get a full year of vendor insurance coverage for $279. If you are only planning on selling at a few events, but still want to protect your business, you can buy a 1–3 day event policy for just $49. In other words, there’s a good chance that you could recoup the costs of a vendor insurance plan with just a few sales at the event.
You can get the coverage details for both plans here. Below is a general idea of what you’ll get with an ACT Annual policy:
- General liability, which protects you from accidents and injuries that can occur while you’re selling
- Products and completed operations coverage, which protects you if the item you sell causes property damage or injury to the buyer after it’s been sold
Long story short, the benefits of vendor insurance far outweigh the costs. Even if you go through a whole year worth of events without getting sued (fingers crossed), there’s still definite value in the piece of mind you’ll have knowing that, if something does go wrong, you have coverage you can rely on.