When the summer weather hits, even though it can be unpredictable, the fairs and markets start to pop up. Is there anything more enjoyable than meandering through the market stalls and booths to see what goods and foodstuffs they have available? It’s at these markets that you can get personalised items or products you’ve never seen before. If you’re a market stallholder, you know that the warm summer months are your opportunity to make the most money. It’s also important, however, to protect yourself, and market trader liability insurance can help.

One of the biggest problem market traders have is that they focus on selling their product and making their booths look inviting instead of making sure that they protect themselves. The UK employs over 32,000 businesses at fairs and markets, so it’s important to make sure that you stand out. Equally important is making sure that your business is protected from lawsuits with market trader liability insurance.

The Insurance Market Traders Need

The first type of insurance you should definitely have if you’re a market trader is public liability insurance. This isn’t legally required to run a market stall, but it’s definitely a very good type of insurance to consider obtaining. It’s also important to note that many fair or market organizers will request to see a copy of your public liability insurance before they’ll allow you to trade. There are different levels of public liability insurance, which is why it’s a good idea to look at which fairs and markets you plan on working and to contact their organisers to ask what type of public liability insurance they require. Keep a list, then speak with your insurance provider to get the best deal that you can get.

Product liability insurance is also very important, especially if you’re someone who sells any sort of foodstuffs. This insurance protects you on the very slim chance that your customer is ill as a result of your products. It’s important to note that you should contact the local authorities to register and insure that you’re fully inspected and have all of the insurance and certificates that you happen to need.

Another option to contemplate is stock insurance. This is a type of market trader liability insurance that helps to protect all of your goods in your stall. This means should some accident happen where your stall is flooded, or damaged by fire, you’ll be able to put in a claim for it. It’s also a good idea to look into getting commercial vehicle insurance so that while you’re traveling to and from events you will be protected in the off chance that something happens. While your business might be covered by your existing policy, it’s a good idea to double check just to make certain that’s the case.

Owning your own market trade business can be extremely rewarding in a number of ways; just make sure that you focus on protecting yourself with market trader liability insurance so that your business can be sustainable.