The Craft Emergency Relief Fund+ (CERF+) has recently published a pocket booklet, The Business Insurance Guidebook for Artists, which is available for purchase for $3.00 including postage or for free download at: http://studioprotector.org/OnlineGuide/Safeguarding/GettingtheRight... .
CERF+ has been advocating business insurance for artists for the past 10 years and has done extensive research and education on this very topic. This booklet is the best $3.00 you'll ever spend on your business.
martha (shameless promoter of CERF+ and former board member of CERF+)
I just saw this thread and called RLI today. I was quoted over $800 a year! Yikes! That was for $25K inland marine coverage and $1 million liability. That's insane. I don't understand why it was so high.
Through ACT I can get the same liability coverage and $10K inland marine coverage for $265 or $50K inland marine coverage for $450. Plus - the deductible with ACT is only $100 vs $250 with RLI. I'm definitely giving ACT a try.
Karole Bowlds > Renee SullivanJune 28, 2012 at 1:00pm
Why Inland Marine??
I pay under 300.00 per year, I am covered in my home studio- equipment and all and liability, on the road-for inventory and equipment, at the shows for theft, damage, liabililty, inventory, equipment, cash/ credit reciepts etc. If travelling to/ from shows I am covered. It's a Small, Home Business policy. Why do any of you need Inland Marine policies?? Those are for contractors- painters, pavers, well drillers, roofers, yard care, etc- basically building and maintenance equipment- with VERY expensive equipment, who use that equipment at other peoples homes and businesses. You need to make your needs clearer to the people you are getting these quotes from.
I live in California and was trying to get liability and something of an "Inland Marine" policy, and man, oh, MAN! What a hassle! I went to State Farm and they quoted me $1200 a year.
I went to RLI here in California and got shuffled around (very politely, though!) to various people because out here, they didn't really know or agree that I needed an inland marine policy. They finally sent me over to someone who was going to set me up with a home based business policy. By that time, my back was up against the wall in terms of coverage, as my show was going to start within a day and I had to be able to show proof of insurance. That was my bad, by the way, as I had started looking last minute and should have started my research at least a month or so earlier!
Anyway, I signed up online with an annual policy from ACT: http://www.actinspro.com/policy/annual-policy-MAC-2388763-005129, pretty much because it was the easiest option at that 11th hour, and in looking over the policy, it seemed like exactly what I needed. Best of all: it cost $265, not $1250!
Now, I haven't had a claim, so I can't vouch for the service, but when you live in California and get nothing but hellishly expensive insurance quotes when you're just starting out and have no budget, ACT looked pretty darn good!
I hope that helps someone!
Rich Terry > Shelley FinanceJune 13, 2012 at 7:22am
Inland marine is generally used for contractors who frequently have expensive equipment, tools, etc., on job sites. Not all agents are familiar with what we do so they are not familiar with the policy type.
Does anyone know have any experience with this insurance? Claims, customer service- I can't find any info on them, not listed with the BBB, I can't find any reviews on them, or Stratus, at all, or find them on Great American, their insurance provider. RLI quoted me the same price, 265, but they charge 20 for additional insureds, while ACT doesn't. I need to make a decision- I've never heard of ACT, but RLI has a good reputation and I know they are solid. Do I save money (about 100-140 a year) or go with a company I know will be around? If someone can tell me any feedback on this company, I'd appreciate it!
I took a look at their rates and they are the best I've found thus far. We still haven't cleared 50k per year, but both of us demonstrate and teach. Our last year's bill was $660 - way above these guys.
Funny you should ask this, Gus! Our newest advertiser for this site is www.actinspro.com. Did you see those rates on the ad, there in the middle of the site? I'll be posting more about this company really soon, but I wouldn't buy anything until I looked at this new opportunity.
I checked out the new ad on the home page for the ACT (Artists, Crafters, Tradesmen) Insurance Program. The cost is competitive with all the other quotes I heard on this post. But signing up is super easy and your policy is emailed to you. Adding additional insured is also free. The site is www.actinspro.com
Replies
The Craft Emergency Relief Fund+ (CERF+) has recently published a pocket booklet, The Business Insurance Guidebook for Artists, which is available for purchase for $3.00 including postage or for free download at: http://studioprotector.org/OnlineGuide/Safeguarding/GettingtheRight... .
CERF+ has been advocating business insurance for artists for the past 10 years and has done extensive research and education on this very topic. This booklet is the best $3.00 you'll ever spend on your business.
martha (shameless promoter of CERF+ and former board member of CERF+)
I just saw this thread and called RLI today. I was quoted over $800 a year! Yikes! That was for $25K inland marine coverage and $1 million liability. That's insane. I don't understand why it was so high.
Through ACT I can get the same liability coverage and $10K inland marine coverage for $265 or $50K inland marine coverage for $450. Plus - the deductible with ACT is only $100 vs $250 with RLI. I'm definitely giving ACT a try.
Why Inland Marine??
I pay under 300.00 per year, I am covered in my home studio- equipment and all and liability, on the road-for inventory and equipment, at the shows for theft, damage, liabililty, inventory, equipment, cash/ credit reciepts etc. If travelling to/ from shows I am covered. It's a Small, Home Business policy. Why do any of you need Inland Marine policies?? Those are for contractors- painters, pavers, well drillers, roofers, yard care, etc- basically building and maintenance equipment- with VERY expensive equipment, who use that equipment at other peoples homes and businesses. You need to make your needs clearer to the people you are getting these quotes from.
I live in California and was trying to get liability and something of an "Inland Marine" policy, and man, oh, MAN! What a hassle! I went to State Farm and they quoted me $1200 a year.
I went to RLI here in California and got shuffled around (very politely, though!) to various people because out here, they didn't really know or agree that I needed an inland marine policy. They finally sent me over to someone who was going to set me up with a home based business policy. By that time, my back was up against the wall in terms of coverage, as my show was going to start within a day and I had to be able to show proof of insurance. That was my bad, by the way, as I had started looking last minute and should have started my research at least a month or so earlier!
Anyway, I signed up online with an annual policy from ACT: http://www.actinspro.com/policy/annual-policy-MAC-2388763-005129, pretty much because it was the easiest option at that 11th hour, and in looking over the policy, it seemed like exactly what I needed. Best of all: it cost $265, not $1250!
Now, I haven't had a claim, so I can't vouch for the service, but when you live in California and get nothing but hellishly expensive insurance quotes when you're just starting out and have no budget, ACT looked pretty darn good!
I hope that helps someone!
Inland marine is generally used for contractors who frequently have expensive equipment, tools, etc., on job sites. Not all agents are familiar with what we do so they are not familiar with the policy type.
Stratus is not an insurance carrier so they aren't rated. They are more like a brokerage, finding the right coverage through many different carriers.
Feel free to get in contact with them. I am sure they would love to answer any questions you have.
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