Hi guys just wanted some help or advise if you have any please

As I am about to start my web business (only sell at the markets at the moment) I am looking into insurance. Som companies won't insure you as I obtain thinks from the US. Was just wondering if you actually have insurance, what type and any advise who you go through, am talking with GIO at the moment as AAMI wont insure me.

thanks
Michelle

Wait a minute, what type of insurance are you looking to get? For Public liability or business insurance? I only have public liability for the markets. Were you advised by a lawyer to get business insurance? If so, why? Sorry, just a bit confused, but trying to help. Sorry for the extra questions!

Gena

AAMI won't insure anything unless they think they can make money ie not pay out. In my previous life I was a paralegal and did work with AAMI. DH is an insolvency lawyer.

Technically even markets should not ask you to have your own insurance. It should be part of what you pay for your stall. Think of it this way. Someone gets hurt. They have to have a major injury these days not like before the fall of FAI when you could get $5000 or so. Injury need to be worth over $30,000. Sorry off the track. They sue and there is your insurance company, the one acting for the markets and the one acting for the owner of the property you are using for the markets. That's three insurance companies making the Plaintiff jump through rings and they fight internally over who is paying what. Rising everyone's insurance.
That was my little rant. I stopped doing markets because of this. When I take a stand I do. I was the only one who left the markets the rest caved and paid $200 a year.

If you are looking a product liability that is different. DH and I have taken the view that I could afford to pay any claim that could arise. But that is your call. I have a friend who used Suncorp and she makes girls clothes and crocheted flowers to add to metal clips. I do not know how much she paid per year.

The silly part about not wanting to insure because you get things from the US is that most of that comes from China. I think Gena will agree it comes from somewhere in Asia to the US and to you. The US have tougher guidelines about kids stuff with their CP????. Sorry ignored most of those posts as the did not affect me.

My ribbon and hardware comes from China. The same place that Tabby Wabby, All About ribbon and so many others get their ribbon printed - same factory. Although Tabby Wabby are looking at somewhere in the US to print.

I hope I have not confused you further. I get annoyed with insurance companies ripping us off. I am sure they think we make more than the claims officers.

Janine

Oh I think GIO might be the same as Suncorp. You know same people different name.

Just read your replies again, thank you. But have had no luck with Suncorp or AAMI, as soon as I say childrens hair accessories the conversation stops. Children can make a claim up untill the age of 21 against you if they injure themselves on our hair products, thats why they wont insure me and have now been advised to go to an insurance broker.

Thanks again Guys
Michelle

I do have another solution. You will need to talk to your accountant. You can trade under a company name (usually called a $2 company). The company will never have much in the way of assets so if someone sues there is no money. It will cost around $1000 to set up ($900 of it is ASIC fees) and about $220 per year as the registration fees. But as I said talk to your accountant they do these all the time believe me.

As of January this year I am trading this way.

We know that to harm themselves on our products is highly unlikely but may happen

HTH
Janine

Hi Janine,

Will keep that in mind when I go to my accountant in June.

Thanks
MIchelle

Hi everyone,

I used to have this insurance for the markets, it cost me about $250 for a full years coverage. It is for people who make items that they sell for markets and things like that.

I will look up the link later tonight and post

Trace

Thought I had found a provider, spoke to CGU twice they said they would cover me (incl baby clips) so I rang to accept their Quote and after spending over an hour on the phone they said NO!!!! It is enough to make me cry.. So annoyed they were kind enough to give me the name of three insurance brokers though. Not sure if you girls say that they can be used on babies when you call to get your insurance cause as soon as I mention this to other insurers I get knocked back as well.
I don't no if I should bother but if some poor child chokes I'll have no cover.

Very Annoying
Michelle

Hi Michelle,

this is the company you need for your insurance

http://www.vwa.org.au/des_publiab.htm

this is all you will need to have to be able to sell your bows at the markets

Trace

Hi Trace,

Thanks, they are the first people I tried and I was told as I mentioned babies they knocked me back. About to try another company. Wish me luck!!

Hi Trace,

Just checked my emails again City Rural insurance brokers were refered to me by VWA but they were quite expensive. I am giving them another call to see how I go. The reason I got knocked back by VWA was some of the goods are imported and they don't insure any imported products, I told them I import raw products (clips, headbands etc) and embellish them with ribbons and things, thats why they won't cover me. Maybe I say the wrong thing or tell them too much but I think I need to incase something happens. Anyway I will let you know how I get on

Michelle

Hi Guys,

Finally I have found a place that will insure me for both may markets and website for liability. They are City Rural Insurance Brokers in SA Yipee!! I will feel so much better now selling things. I know the chances of something happening are slim but am usually the one who if I have insurance nothing will happen, but if I don't something will.

Now to get back into some bow making!!

Thanks Guys again for your advice.
MIchelle

Tracey wrote:

Hi Michelle,

this is the company you need for your insurance

http://www.vwa.org.au/des_publiab.htm

this is all you will need to have to be able to sell your bows at the markets

Trace

I know this is an old thread, but I just wanted to say a big THANK YOU to you lovely ladies.. I've been TRYING to get quotes for insurance and after MANY phonecalls I remembered I'd bookmarked a thread on here.. I had soo many knock me back, because I "manufacture" or because I make baby items or because I want to do markets yada yada, the only policy I could get was around $1000 per year and that was after being told it may be up to $4000.. Rang these guys and they'll cover me for liability & markets, and for under $200 a year - HUGE difference to someone just starting out!!! Thanks so much for sharing

Hi Tarsha,

glad to see that you found this link helpful. I know that this company is for people who handmake items to sell and it is a great price to pay for insurance

Trace