Liability Insurance Intro
Commercial General Liability insurance is a major budget item for farmers and markets. But it is something that everyone needs to protect their farm, the market and its sponsors in case of a lawsuit. The Farmers Market Federation of NY has contracted with insurance companies to provide access to affordable insurance to all members. The program is available to both farmers markets and the farmers and vendors participating in farmers markets.
ANNOUNCEMENT: For the 2014-2015 year, the Federation will be switching to Campbell Risk Management as our Federation-sponsored and farmers market vendor policy.
Our application form for this insurance is here: Apply Online.
Here is some information about the new policy and what this switch will mean for you and for the Federation:
Campbell Risk Management currently provides the Federation’s market insurance and their vendor insurance program offers several advantages over our current arrangement with Travelers:
For all of these benefits, there will be only a slight increase in cost with the new policy. The basic policy will be a flat rate of $325 (plus $25 for your Federation membership) which covers vendors grossing up to $12,000 in annual sales. This includes as many markets needed and any additional insured certificates at no extra charge. The premium increases slightly for those with more sales, maxing out at $425 which will cover up to $825,000 in sales at unlimited markets.
You may also choose to keep your policy with Travelers, but there are some changes to their program for this year:
For any questions about this switch, contact Galena at 315-637-4690 or our agent at Campbell Risk Management, Larry Spilker at 1-800-730-7475 ext 203.
Here is the infomation about the old Travelers Policy, in case anyone has questions about their current coverage:
VENDOR MARKET LIABILITY PROGRAM
The vendor liability program provides $1 million per occurrence in both general and product liability coverage. The premium extends to all markets the vendor participates in, providing they are disclosed on the annual application. Markets added after the original application date may be subject to a $10 per market fee. In addition, the premium will provide unlimited additional insured certificates.
The program covers farmers and vendors participating in farmers markets ONLY. It will not cover a farm stand, retail store outlets or other forms of marketing. The program covers a wide range of products, however, it will not cover:
Wine or other alcoholic beverages
Certain types of crafts (call for more information)
The policy period for the Vendor Liability Program begins on April 1st and extends to March 31st. Premiums are not prorated for entering the program after April 1. The premiums are due up front and once coverage is extended, the premium is fully earned.
Per request of the insurance company, the Farmers Market Federation of NY will act as billing agent for participants in the Vendor Insurance Program. Premiums are paid through the Federation office. All requests for additional certificates must be made through the Federation office. Please allow a minimum of two weeks processing time for additional certificates.
Membership in the Farmers Market Federation of NY is required to participate in the Vendor Insurance Program.