February 14, 2019 - 10:52am
Liability Insurance for a Cottage Bakery
I am at the point of needing Liability Insurance for my bakery. I am a home run cottage bakery operating out of about 150 sq feet. Currently I do about $400-600 a month in gross sales and am hoping to triple that at the farmers market this spring.
What are others paying for liability insurance? What is covered with said insurance? Any recommendations for companies?
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I run my cottage bakery as an LLC and don't have any insurance added, just like a number of others I know. I remember researching the topic a bunch when I starter a couple years ago, and never found a compelling justification to purchase liability insurance.
Bikeprof - do you sell at a farmers market? Or need it for your business license?
The farmers markets in my area all require that I have it and provide a Certificate if insurance with their location listed in order to sell there. I found a relatively reasonable price through the broker that handles our homeowners insurance.
These folks: http://www.fliprogram.com/ have been great for me. $300/year. You can continue to add additional insureds throughout the year for no additional $. It’s simple and easy to do. I purchase the insurance every year when the first event I do requires it. Sometimes I can get through a whole year without it. The prior company I used charged additional amounts every time I needed to add another insured, although if I remember correctly it was $10 per.
I use Campbell risk management, they specialize in farmers market insurance. I pay $275.00 for a one million dollar policy.