Skip to Content.
Sympa Menu

market-farming - Re: [Market-farming] how much insurance?

market-farming AT lists.ibiblio.org

Subject: Market Farming

List archive

Chronological Thread  
  • From: idyllwild farm <idyllwildfarm AT gmail.com>
  • To: Market Farming <market-farming AT lists.ibiblio.org>
  • Subject: Re: [Market-farming] how much insurance?
  • Date: Sun, 27 Apr 2014 13:55:12 -0400

We have two markets that require 1mil and that the market be listed as co-insured. For a good market it's a cost of business...
Mike

On Apr 27, 2014 6:50 AM, "Sue Wells" <farmersue AT myfairpoint.net> wrote:

My insurance is $1,000,000 per occurrence, and $2,000,000 for general aggragate, products-comp/op agg.  And the city is added as an additional insured. (Which is $50 extra).

I have had this for many years. For the first time, my other Market has required insurance this year.

Sue

Vermont     

 

From: market-farming-bounces AT lists.ibiblio.org [mailto:market-farming-bounces AT lists.ibiblio.org] On Behalf Of Kathryn Kerby
Sent: Sunday, April 27, 2014 2:50 AM
To: Market-Farming
Subject: [Market-farming] how much insurance?

 

We were getting ready to attend an orientation next week on a new farm product sales venue opening up near us. It’s not a farmers’ market per se, but one of those new food hubs that are starting to sprout up.  We worked with them a few years ago when they were under different management, which went smoothly  We were getting ready to do so again this year, until we heard they were going through a reorganization.  Hmm.  So we got the info packet to see what had changed in the reorganization.  Amongst other things, they have a new list of “qualification criteria”, and one of those items was liability coverage for farm products.  No problem, we’ve got it and we’ve had it for years.  But then I read the fine print – we need $2 million per occurrence, AND we need to add that venue as an additional insured on our policy.  Excuse me?

I have already called my insurance broker to find out what that extra insurance would cost us, and what the implications would be to add that venue as an additional insured on our policy.  I’ve been doing some reading tonight on what other farmers’ markets and the like are requiring.  More and more markets are requiring some kind of liability insurance, but the per-occurrence rates have been a lot lower in the few instances where I could find specific numbers listed.  One market for instance, wanted $100,000 per occurrence, another wanted $1 million aggregate but no specific per-occurrence, a third wanted $500,000 per occurrence, etc.  None of them said anything about being listed as insureds on the individual farmer’s farm policy.

 

So now I’m wondering if I’m just not seeing a true representative sampling of the range of requirements, or if this new venue is perhaps setting a high bar in anticipation of what’s to come down the pike in the near future, or maybe they’re just really out of touch with what everyone else is doing.  Frankly, I’m not sure we’ll bother at this point with that new venue.  There are some other hoops they want us to jump through which I remember thinking “well, hmm, that’s a little odd but OK…….”  But if this additional insurance is going to really boost our yearly premiums, I’m going to have to think long and hard about whether it’s worth it.  So I’m very interested in what other folks are seeing in their markets and/or other marketing venues, in terms of required insurance and at what levels.  Thanks all……..

Kathryn Kerby

Frogchorusfarm.com

Snohomish, WA


_______________________________________________
Market-farming mailing list
Market-farming AT lists.ibiblio.org
http://lists.ibiblio.org/mailman/listinfo/market-farming

Market Farming List Archives may be found here:
https://lists.ibiblio.org/sympa/arc/market-farming/
Unsubscribe from the list here (you will need to login in with your email
address and password):
http://lists.ibiblio.org/mailman/options/market-farming



Archive powered by MHonArc 2.6.24.

Top of Page