If you’re making a partial or full-time income as an Etsy seller, then you’ve already accomplished something unique and amazing!
You followed your passion and you were able to make a profit off of it.
But whether you’re selling handcrafted artisanal goods or you’ve been talking to contract manufacturers about scaling up and/or selling new or different products, it’s important to remember that there are risks involved with owning and operating your own business.
Insurance isn’t just for major corporations with locations around the country and massive in-house legal teams. It’s increasingly a must-have for Etsy sellers as well.
Looking for Etsy Sellers Insurance? Here are Two Coverage Options That You May Wish to Consider
1. Commercial General Liability Insurance
You might have looked at this one and thought, “Hold on a minute! I don’t have a physical brick and mortar store. Why would I need commercial general liability insurance?”
And the answer ultimately boils down to the simple fact that running your Etsy shop comes with all sorts of risks and almost any business can benefit from having a commercial general liability policy to protect them from unexpected events and litigation. For example despite typically being a home based business, you’re still sourcing supplies/materials, managing inventory, creating your products, and writing the product descriptions that will ultimately appear on your listing.
Commercial general liability insurance can cover you against products liability and false advertising claims. If a customer experiences bodily injury or property damage due to your products or your competitors feel you may have slandered them in an edgy post or marketing campaign, this insurance policy can cover judgement costs as well as the cost of defending yourself.
2. Business Property Insurance
When you’re selling out of your own home, it’s easy to operate under the assumption that everything’s covered under your homeowners insurance.
But in practice, that’s not necessarily the case.
In the event of a fire, for instance, many items that you use for business purposes would likely not be covered under your standard home insurance policy. Business property insurance makes it possible for you to get fair value back if the materials you use for your shop or your finished inventory are ever damaged by an insured peril.
Here’s Why You Should Speak to an Insurance Broker for Your Etsy Sellers Insurance Needs
Etsy shops may have their differences but there’s one big thing they all have in common:
Not getting insurance coverage can have lasting long-term consequences.
When you work with an experienced and well-connected broker, you can get personalized insurance advice for your Etsy shop.
If you’re looking for Etsy sellers insurance, contact ALIGNED for a FREE quote today. We’ll work with you to ensure that you get a great plan at the best rate possible.
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