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wool, paint, wood, jewellery findings), or you drive to a craft fair where you will have a stall. By doing so, you are using your private car for business and so you need to check that your vehicle insurance covers you to do that. I have known of a case where someone was coming home from a craft fair and her car caught fire due to a leaky pipe - she lost £1,400 worth of stock and because it was classed as business use, the insurance did not pay her for the contents, even though it was a fully comprehensive policy. If she had been shopping and had the same value of goods in the car, they would have happily paid as it was a private trip.

Key Person Insurance

If you run your business full time like myself, then I think this is a must. If anything should happen to me

82 | ukhandmade | Spring 2010

(either disability or death), what happens to my income, which my wife and son rely on? They may have to nurse me for years.

Premises/Buildings Insurance

Because I rent a studio, any one of my neighbours’ work spaces could go up in flames and I could lose everything, from stock, equipment to raw materials. Check with your landlord what cover they have and if your stock and equipment are covered (they must by law tell you what cover they have and if you are included on the policy). If you work from home, again check your buildings insurance policy - many policies could either be voided if you work from home, or a large percentage of any settlement may be excluded if you make a claim.

Contents Cover - I have, as part of my rented property insurance, separate sections of cover: •

Contents – this insures my stock

at cost price without any addition for profit (this also covers the stock in the event of a break-in); and •

Plant and Equipment - this

cover is to replace as new but is also available on an indemnity basis, where wear and tear is taken into account when settling the claim.

Goods in Transit

This not only covers me when I’m going to or from craft fairs, but consignment by consignment when I’m sending stock via a carrier to a gallery.

Money (cash loss) Insurance

For example, I’ve been at a craft fair all day and during the day, some Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98
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