How many of you right now are making candles and soaps without insurance? At one time I was one of the non-insured candle makers. Looking back on my immaturity I shiver. The possibilities of what I could have lost haunt me.
I don’t want that to happen to you. You have put a lot of time into your business to flush it down the tubes. Take your business seriously because running a business is serious.
First, I am going to bust 2 myths.
Myth #1 - I don’t need insurance because I only sell candles and soaps once in awhile.
It doesn’t matter if you have a full fledged business or just selling a couple candles or soaps once in a while. You are still considered a business. None the less you still need insurance.
Don’t ignore this pivotal aspect of your business. Yes, it does costs money. But the benefits of having insurance out weigh the potential hazard of not having any. You could lose everything. Plus, having insurance can open more doors for your business.
Myth #2 - I don’t need insurance because it is just a hobby.
Insurance is recommended for candle and soap even if it is a hobby. They consider the soap and candle business a high risk group. It is so high risk that if your homeowners’ insurance group finds out you are making candles in your house, they drop you like a ton of bricks.
It doesn’t matter to your homeowners’ insurance if you are making them for friends and family. This creative outlet is still considered high risk because of the nature of soaps and candles.
Finding Insurance For Candle And Soap Makers
It is difficult to find insurance for candle and soap makers.
Here are various types of insurance coverage and why you need them.
- General Liability – This is considered “umbrella liability” . This covers legal costs due to claims of negligence or lawsuits for unintentional damages and injuries.
- Product Liability – Protects your business when lawsuits are filed in the event of injuries or damages caused by defective items sold or manufactured.
- Home Based Business Insurance – This insurance covers your area of work out of your house for losses due to theft, natural disaster, or fired. Your home business is “not” often covered by homeowners’ insurance.
Seek out help from art or craft specific groups. If you are having trouble finding the right insurance, the questions to ask the agent, etc find guilds, groups, forums and organizations that would offer you some helpful advice. ( FYI – Some of them are memberships and you have to pay to become a member)
- Indie Beauty Network – Provide the option to pourchase insurance coverage for candels and soaps as long as join there network.
- Ohio Arts and Crafts Guild – Affordable membship with option to buy liability insurance.
- American Craft Council
- The Association of Business Artisans – Doesn’t provide coverage but working on offering affordable coverage.
Most suggested insurance policies $1,000,000. Don’t feel obligated to take what they have to offer especially if they are too expensive. Do your research. It is a big investment, but one that will protect you and your business.
Small List Of Insurance Companies:
- Benchmarkinsurance.com
- auto-owners.com
- 1stinsurance.com
- graindealers.com
Many Blessings,
Other Great Reads:
- Top 10 Mistakes Made In Your Candle Or Soap Business
- Top 5 Mistakes In Trying To Sell From Your Blog
- Lessons Learned From My 11 Years Old Vocabulary Test
- Sure Fire Ways To Increase Traffic To Your Blog
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Hi there Dawn & Happy Thanksgiving!
This is a Great topic and much appreciated valuable information!
Warm candle light regards, Ms Sweetie
Candle Sweetie
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