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Business Insurance For Market Traders

Market traders’ insurance is designed to provide the key protection required for businesses in this sector, namely public liability insurance, cover for stock and equipment and, where appropriate, employers’ liability insurance. We all know that accidents happen, lets get peace of mind that your are covered correctly and competitively going forward. Public liability insurance for market traders is not obligatory, but it is accepted as being essential for any trader who comes into contact with members of the public. Employers’ liability insurance is actually a legal requirement. Cover for stock and equipment is highly desirable as theft or damage could seriously impede the ability of the business to trade. All traders, regardless of whether they operate inside or outside and the frequency with which they trade, should consider their insurance needs.

Which Covers Are Right For Your Business

While public liability is not a legal requirement, it is crucial. It may be contractual requirement of the market organiser. This protection will cover you for costs that spring from your legal liability if a member of the public or another stallholder is injured or suffers damage to their property as a result of your negligence. An example might be if your stall were to collapse and cause injury to a passer-by, or if someone tripped over a cable. It is important to remember that an aggrieved party would need to demonstrate negligence on your part – but it is easy to see how valuable such cover could prove.

Our Experience & Relationships

Moneycornershop.com is a proud member of the Purple Partnership – Who have been voted the Best Broker Network in the UK – 3 times in the last 4 years – Which means many insurers provide exclusive deals for us, with competitive pricing and enhanced policy cover. Moneycornershop.com has been working with small-and medium-sized enterprises all across the UK, so we understand that each individual business has its own unique risks and challenges. Our knowledgeable customer service team has the skills and expertise to put together a flexible policy that fits your specific requirements, and has the ability to develop and grow along with your business. When this is combined with the great service our team provides, you can see why people choose to let us arrange their insurance. We have over 50 years collective experience and relationships with underwriting specialists which have the capacity and understanding of the industry to write and place any risk.

When arranging market traders’ business insurance, it is important to shop around for the best cover at the cheapest price. Moneycornershop.com will help you compare quotes from the leading providers in this sector by clicking on the link below. This insurance is designed for market traders, craft fair traders and general traders at any licensed stall based event in the UK

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Employers Liability 

This is obligatory is you have a person or people working for you on your stall or in a support capacity, such as someone to help transport items to and from your base. If you already have employers’ liability insurance at your main place of work (assuming that is different from the stall itself), then the policy may cover your employees while they are on the stall itself. The important thing is to check your policy and talk to your insurer if necessary.

Product Liability

This is important cover if, say, you sell home-made food – it would come into play if customers contracted food poisoning and sought financial redress from you. You should check with your insurer if you are selling products manufactured by another business. If you are selling food or drink products on your stall, you must register with your local authority. You’ll then be subject to inspection and be told if you need to have a certificate or licence.

Property Liability 

This will protect you against damage to your goods or to your stall in a fire or through water damage. Cover against theft may not be available unless the items are locked. You may be able to get insurance against the theft of cash but, again, security restrictions will apply.

Commercial Vehicle/Goods in Transit.

This is insurance for your business transport and any items to take to and from market. Again, these may already be covered by an existing policy, but it is essential to check the extent and the scope of cover and to supplement your protection where necessary.

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What Other Insurance Should You Consider?

The insurance you need will depend on your specific type of business and the individual risks it faces, but these are popular covers for tradesmen:

Your business is all about selling. But what happens if your stock is damaged by fire or flood, or it is stolen? This could seriously affect your ability to trade and cause a major problem for your cash flow. Stock cover is the answer for peace of mind that you won’t be stuck with nothing to sell and no cash to buy new stocks or supplies.

Business Interruption Insurance 

If something happens and you can’t work, you won’t have an income. But you’ll still find that suppliers need paying and you’ll have to pay your living expenses too. Business interruption insurance is one of the most important types of insurance you can take out, and is designed to help tide you over financially during times when you can’t trade.

Market Trader Public Liability Insurance

Public liability insurance usually comes up first when it comes to tradesmen insurance, this cover can protect you if you’re sued because someone is injured or their property is damaged. Moneycornershop.com has the capacity to offer between £1 million and £10 million in cover, to protect you against legal fees and compensation costs. You can include business buildings cover to protect your business premises, including fixtures and fittings.

  • You can also include plant and machinery insurance, which can provide protection for plant and machinery, whether you own it or hire it.​
  • Personal accident insurance covers you against serious injury, or even death – paying out for the likes of lost income and medical costs.
  • You can include business buildings cover to protect your business premises, including fixtures and fittings.
  • Business equipment insurance to cover your business contents and office equipment.
  • Business legal protection insurance can cover your commercial legal expenses and the cost of legal action.

 

What Type Of Market Trader Are You?

We provide tailored insurance for most types of market traders:

    • Market traders,
    • Craft fair traders
    • General traders
    • Any licensed stall based event in the UK

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Why Join Moneycornershop.com?

  • Join a huge network of happy customers
  • Arrange your cover today – Free Quotes
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