covering yourn backside

[rockriver forge]

Hello everyone & Merry Chistmas;
My question for everyone is, does anyone carry any insurance to cover themselves for having people working in their shops, or for going to fairs and other outside the shop activities? I have done these things, but with the way things are these days I'm thinking that I need to cover my backside. Thanks for your input. Roger

[John Martin]

I will be doing a demo stand at the some of the fairs locally this year RRF, and I will talk to the host about it, I don't know anything about it yet, since this year will be my first time.

[dablacksmith]

i got the same as apprentice man from hartford ... dosnt cover haveing people working in your shop tho ... the museum ime set up at required it .. i went for years with nuthin! but i didnt own much so not much for a lawer to get.. in fact i still dont own much but the museum is covered if i burn the place down.....

[rockriver forge]

Thanks for your quick reply, (it is Christmas )

I do have a price for Insurance, and it runs about $925 per. year.
Is that about right? Is there a better rate?
Thanks again, Roger

Edited December 26, 2008 by rockriver forge

[David Einhorn]

My insurance agent said that he could only get me a policy for decorative non-functional objects that I made that would sit on a shelf to be looked at, and not anything functional such as furniture or cooking utensils or toys, etc. as those items, he said, would be a very very expensive policy costing many thousands of dollars per year.

Be careful that the policy you purchase actually covers guest smiths, visitors, the types of items you actually make, demonstrations, and everything else that you do. Actually read the proposed policy and make sure you are covered for what you make and do.

[Jymm Hoffman]

I also use the Hartford for liability insurance. If someone is in your shop, you need to check with them. I make students sign a waiver acknowledging the work is dangerous and will not hold me or the site liable for hurting themselves, plus I have the right to kick them out if they do not follow my instructions. If you have employees, different story, workman's comp. etc.
How does any of this hold up in court? I don't know and hear lots of horror stories. Bottom line, what risks are you willing to take and how much are you willing to spend?

[Steve Sells]

My new shop is covered by my home owners policy, My agent was here 3 weeks ago.

As for Liability waivers, I used to run my own company for a number of years with 7 full time and 3 part time employees. Also I still have the Martial Arts school, and my little sister is a business lawyer.

Waivers do not remove liability, but they may reduce the level of penalty's from an action because that signature shows they were informed of risks. But no court will allow anyone to sign away constitutional rights in any contract. So says my Sister of Indiana and Michigan Bar.

[Woody]

In addition to my Liability Policy, I have a $1,000,000 umbrella policy that kicks in if a claim were to excede the limits of my liability policy, it only costs a couple hundred a year for this additonal protection.

Remember there are only two types of people in the U.S. Those that have been sued and those that are about to be sued. With that in mind, look at what you have and what you want to keep then purchase the appropriate amount of insurance to protect it and yourself.