We’ve Made Stock Insurance For Crafters A Lot Simpler

Anyone who’s been crafting for some while will have his or her own set of disaster stories. Maybe a mug of coffee has tipped over, soaking and staining a pile of ready-for-sale, handmade cards. Maybe an adorable new puppy found its way into a beautifully carded pile of fleece and used it as a toilet. Or maybe the shelf where you keep your finished ceramic products collapses and the whole lot comes crashing to the ground.   

While a sense of humour and natural resilience may allow us to laugh at them after the event…possibly a long time after the event … the actual incident can be heart sinking, financially devastating and even put a stop to your trading for a while. Having organised workspaces and a backup plan for craft fairs will minimise the impact of any unforeseen disaster but unfortunately, as we all know, life happens and sometimes, the curveball comes our way and there is nothing we can do to stop it. This is where having stock insurance for crafters can literally be a business saver. 

And it’s not only stock. Tools and equipment can be stolen or damaged, which not only means an expensive knock to the pocket to replace them, but also can mean a temporary hiatus in product, adding to the financial impact.  

It’s not just in the workshop that disasters can happen, or from the workshop that tools can be stolen. Exhibiting at craft fairs is the backbone of many crafting businesses and, without wishing to sound like a promotion for a blooper reel, being out and about can open another door to mishaps. Imagine … you arrive at a craft fair on a freezing morning with hours’ worth of Christmas themed produce really to sell. As you walk into the hall, you slip on some ice. While fortunately you don’t sustain any major injuries, your beautiful glass decorations take a flying leap. Or conversely, on an unseasonably hot day and after a long car journey stuck in traffic, you unpack your wax melts and find they have not only lost their definition but fused together in the heat.  Both of these could be catastrophic not only for the actual event, but for the financial health of your business. Having stock insurance for crafters in place, while it will not ease the disappointment of having hours of hard work gone in a moment, will ease the financial impact and enable you to pick yourself up and carry on making and selling. 

What is stock insurance for crafters and what have we done to make it simpler?  

We know that behind every craft stall or small craft business there’s a significant investment in materials bought, products made, tools accumulated, and equipment used to trade. But what if that stock was damaged at a fair, tools were stolen from a car, or a laptop was lost on the way to an event? 

Business items and stock cover gives you that extra layer of protection for the physical side of your craft business. It’s an optional add-on to your base public and product liability policy, and like everything at Craft Insurance, we’ve simplified it so you only insure what you have, at the level that makes sense for you. 

You can insure your stock through all stages of production, from raw materials through to finished, saleable products. This could be particularly relevant if you are out and about on the craft circuit, as it includes damage in transit as well as at the event. At large events you may leave your stall set up overnight, and stock insurance will cover you if the unimaginable happens and products are stolen or damaged; theft as well as damage is covered. 

We also cover electronic devices, used for making, promoting or selling your crafts. Laptops, for example, or cameras used for taking photos for your website. If you sell at craft fairs regularly, you will no doubt have a card reader, and these nifty little devices, as well as iPads and laptops, can be susceptible to theft. Our standard excess is £50, regardless of the amount of your claim; you’ll find this is a competitively low excess. 

Another point to consider is that you may wish to add to your insurance. While at first glance our quotes might seem to be higher than big name competitors, this is intentional as we charge a one-off price with clarity of what it includes. We do not charge an initial admin fee, nor do we charge a fee for making amendments to your policy. We work hard to be transparent and ensure you understand the process. To this end, we don’t use call handlers but communicate directly with all our customers. This means that not only do you not waste your time waiting in a call queue, but you also get individual, expert advice. If you prefer to do everything online, you can fill in the form on our website, and we will send you a quote based on what you tell us. This way, you are only paying for what you need.  

All our insurance packages are completely bespoke, as what is included will depend on your unique business needs. Public and product liability are the base cover, and you can then add to that as you weigh the costs versus the risks. As a family business we have learnt about craft insurance over the past few decades, and this knowledge has been passed down through the generations. So, while we are up to speed on all the latest policy changes, we also have a wealth of experience which we can share with you. We understand your journey from the kitchen table upwards, so pick up the phone and Naomi or Sam will be here to answer all your questions about stock insurance for crafters.