Metal Clay Business Resources - Insurance
This page is all about craft insurance.
If you are running metal clay, PMC or Art Clay training, you need to be insured. Public and product liability insurance is important if you are selling your jewellery items.
The following companies offer craft insurance.
Craftcover – UK
GM Imber – UK
Hiscox – UK
Ian W Wallace – UK
T H March – UK
Jewelers Mutual Insurance – US and Canada
Fractured Atlas – US
Product Liability Insurance
While product liability insurance isn’t a legal requirement, you may find that people you sell your work to will ask about it. On top of that, if you are found liable for injury, damage or death caused by one of your products, you can be sued.
By law, products that you sell must be safe for consumers to use. However, no matter what precautions you take, sometimes things will go wrong.
Even though product liability is not mandatory under UK law, the amount you can be sued for will depend on the severity of the incident and it’s important to note that there is no upper limit to the potential payout.
Product liability insurance protects you against both expensive legal fees and any potential compensation costs.
Public Liability Insurance
Public liability insurance is an important type of business protection for many companies operating in the UK.
This form of protection covers your company if members of the public or your clients suffer an injury, or their property become damaged, because of your business. In the event of your business causing such an incident, the insurance covers:
- Legal costs and expenses, as a result of defending a claim
- Payments of compensation for an injury to a member of the public
- Compensation payments awarded for damage to a member of the public’s property
Public liability cover is important business insurance to have if your company is public facing. But it should also be considered for a company that might, at any time, come into contact with members of the public.