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Insurance for a hobby shop wanting to sell the odd piece

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  • #31

    Re: Insurance for a hobby shop wanting to sell the odd piece

    Originally posted by iamtooler View Post

    what company are we talking about?
    The company we were dealing with was The Personal
    Darrin

    Timber Elegance
    My Etsy Store

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    • #32

      Re: Insurance for a hobby shop wanting to sell the odd piece

      I just find that it really sucks, that the company I need to talk to, is bent on using any info I give them against me. It means I can stick with the status quo and hope for the best, what I sell is not a high risk item, or I can ask questions to get things done right and run the risk of losing my insurance or losing my biggest market. Just for clarity, I don’t sell 6 figures. Hell, I haven’t sold 5 figures yet. If I had to pay $6K a year for insurance, I would never catch up. Now that is a high number, but I can’t ask the insurance company what it would actually be, because if do and it is $6K and I say, “OK. I wont’ bother” then I have to either stop selling to my biggest market or risk my insurance abandoning me when something not related to export happens.

      Sorry for rambling, just a little rant.

      Darrin

      Timber Elegance
      My Etsy Store

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      • #33

        Re: Insurance for a hobby shop wanting to sell the odd piece

        Originally posted by darrin1200 View Post
        I just find that it really sucks, that the company I need to talk to, is bent on using any info I give them against me. It means I can stick with the status quo and hope for the best, what I sell is not a high risk item, or I can ask questions to get things done right and run the risk of losing my insurance or losing my biggest market. Just for clarity, I don’t sell 6 figures. Hell, I haven’t sold 5 figures yet. If I had to pay $6K a year for insurance, I would never catch up. Now that is a high number, but I can’t ask the insurance company what it would actually be, because if do and it is $6K and I say, “OK. I wont’ bother” then I have to either stop selling to my biggest market or risk my insurance abandoning me when something not related to export happens.

        Sorry for rambling, just a little rant.
        I wonder if your best bet is to talk a large number of insurers? Give them all exactly the same information and don;t stick with locals .... take your business out to the bigger centres and find out who's willing to work with you? If the information is going to go out to one company and the risk of worsening your situation is "x"%, then taking it more public is not likely to make the risk worse than "x".

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        • #34

          Re: Insurance for a hobby shop wanting to sell the odd piece

          I'm not 100% sure of this but isn't there just a few insurances companies in the world and the rest are just sellers. Don't know the real terms now. I do remember having dif agents but the company that came around to check on things was the same over the years. Pricing difference is how much the middle man wants i discovered. There biggest concerns was always where the air compressor was located ( had to put in a separate room ) and how good the dust collection system worked. Remember this was a full time business and not a hobby play shop. I think the US thing will be a concern if full or a once of...

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