Posted on Feb 22, 2022
Cramped flea markets, heaving food fairs and vibrant craft exhibitions – the UK’s market scene is as well-populated and embraced as ever, with stallholders peddling everything from artisan bread to handmade iPad covers.
But while the stock may vary wildly – a successful day’s trading will always hinge on the quality of the products, customer interaction, painstaking organisation, safety and security. Insurance doesn’t need to cost a lot to protect these areas, but it can offer an indispensable and in some regards mandatory contribution to your business plan, however modest or ambitious they may be.
Market essentials
Just as with any permanent work premises, stallholders need an employers’ liability certificate if they have anyone helping on the store. Useful at such times as when your handy helper slips on some gravy, the only time where this doesn’t apply is when it’s a family member.
Any van or vehicle you’re using must be insured for business use, otherwise any problems you have driving to and from your pitch, or food, artwork, or other stock you’re transporting won’t be covered.
If you have a long-term pitch at a busy city centre market where parking is likely scarce, it can make more sense to do without a van altogether and rely instead on couriers. That way you’re not having to pay for insurance, tax and parking. Just make sure you check that any couriers you use are adequately insured in case there’s any damage to your stock while in transit.
Market “good-to-haves”
Public and product liability are not obligatory – necessarily – nor is stock or premises cover. This can vary depending on where you’re pitched, as some market managers will insist that you have this insurance in place.
It goes without saying that all these covers are essential none the less, coming into play if a customer cuts themselves on a bespoke wind chime made from tin cans, or trips over a stray cable. Market stall cover packages will also likely cover your premises and stock from damage caused by water or fire, providing you have not been careless with over-enthusiastic festooning or have extension cables dangling over a hotplate.
Theft is a trickier area but can be covered providing you’ve got the right security measures in place as per policy stipulations. This means that if you have your takings stashed in an unsecured Tupperware box below the counter and it’s stolen, you’re unlikely to be covered.
And if you’ve pinned all your hopes on taking a healthy profit from a particular event which is then cancelled, you won’t be left out of pocket for the provisions you’ve already made if you have cancellation cover in place.
Insurance policies can vary so it’s important to check the small print before you buy. If you’re unsure as to what is classed as an “essential” or which “good-to-haves” you should really think about for your stall, contact Watkin Davies Insurance Consultants who would be happy to help, just call us on 02920 626 226 or email insurance@watkindavies.com
"Very efficient, always friendly and helpful. I have used Watkin Davies for years, and they have always been competitive. I received great support recently when I had to make a claim, so I'd highly recommend them."
"I was very impressed with the quality of the service - it was outstanding. The advisor, Ms Spear went above and beyond to give me the best driving insurance policy. The policy I have received is exactly what I was looking for. Thank you so much Ms Spear!"
"I've used Instructorcover Plus for my driving instructor insurance for a number of years. Not only are prices competitive, even at renewal, but customer service is fantastic. Call operators are always cheerful and incredibly helpful. Everything is always sorted in a single call, saving valuable time. Highly recommend."
"Absolutely superb service from the team, particularly Natalie. Very easy and simple process"
"As aways very efficient"
"I have used InstructorcoverPlus for my driving tuition insurance for a number of years. Their prices are always competitive and everyone I speak to is friendly and helpful."
"Ceri was very helpful and knowledgeable on the phone"
"Karrie Brewer was so helpful today, especially as one insurance company would not quote, so had to shop around for us, many thanks"
"Kelly is amazing. Very helpful and friendly, did a great job today with helping me out to get insured. Amazing service!"
"Great service. Got my first driving instructor insurance with this firm. Price was competitive and customer service provided by Jane was great. I will definitely recommend the service."
"Team were very helpful when it came time to renew my policy, taking the time to check and make any amendments needed. Would highly recommend."
"5 stars!"
"Excellent service from Watkin Davies as per usual. I love the way they do all the hard work researching best quotes and provide you with your options. All the staff are very friendly and professional, I have to highlight Ceri who always does a fantastic job for me and my family."
"Really helpful and efficient customer service, friendly and knowledgeable too. I would highly recommend InstructorcoverPlus."
"I m a returning customer and what a wonderful experience. Emma is new to her role but she was very helpful and polite throughout. She got the quote done very quickly and managed to beat all my other quotations. I therefore didn't have to waste any more time. Further she offered me three instalments at 0% which is helpful in this current economic climate. The paperwork was sent straight away. Highly recommended."
"Once again, could not have been more helpful! Still a pleasure to speak to a 'real person' who knew what they were talking about!"