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As a business owner, you invest time, energy, resources, dollars and sweat into the success of your product or service. You strive to cultivate happy customers who are loyal to your company. You harbor no malcontent toward those you serve. In fact, they are your greatest asset. Yet, sometimes things go wrong.

Without vendor insurance, you may watch your hard work crumble at your feet. Be informed on how to protect your investment and your dreams with vendor insurance.


What is Vendor Insurance?

This insurance covers concessionaires, exhibitors and vendors. In other words, those who sell, display, demonstrate or promote products and services at venues that the owner does not own or lease long term. These might include farmers markets, arts festivals, conferences, trade shows, conventions, mall and shopping center events, and other special events.

While artisans, craftsmen, food concessionaires and the like commonly benefit from this type of insurance, other businesses benefit from its protection as well. Any company that operates off-site, even if for one day per year, runs a liability risk without vendor coverage. Participation in trade shows, consumer shows, special events at malls and shopping centers, and more, opens your business to potential accidents and injury.

Vendor insurance protects your business and keeps it running while covering expenses related to liability issues and paying for litigation as you defend yourself in court. Types of coverage include:

  • Property damage liability.
  • Advertising injury liability.
  • Bodily injury liability.
  • Personal injury liability.
  • Litigation coverage.

Annual and one-day policies address the needs of various types of businesses. There is no need to purchase a full-year plan if your business attends one to two trade shows per year. Insurance agents at Marine Agency assist in determining the best fit for your needs.

As you might expect, restrictions apply. Typical exclusions include acts of terrorism or war liability, employment-related practices, aircraft, pyrotechnics, total pollution, nuclear energy liability, types of sexually-transmitted or other transmittable diseases, fungi and bacteria, and health dangers such as asbestos and lead.

Apart from exclusions, vendor insurance protects your company from potential cost and business damage, even dissolution, in the event of an accident or mistake.


Why is Vendor Insurance Needed?

Business-related mishaps and mistakes happen. No one plans for such things. That is why they are called accidents. However, wise business sense dictates that company owners arrange for protection in the event of unforeseen circumstances.

Also, while we would like to trust those who approach our booth, reality proves that the poor decisions of people ripple out to affect others. Drunkenness at festivals and scam artists seeking free money through lawsuits carry risks for your business. These are not scare tactics, but reality.

Underestimating the reality of such accidents and incidents may lead owners to believe that vendor insurance is unnecessary. However, according to a US Chamber of Commerce report, greater than one in three companies experience a lawsuit, and 73 percent admit their business suffered as a result.

These statistics still fail to impress on many business owners the value of insurance protection. In 2007, only 62 percent of owners made decisions to avoid lawsuits. This figure leaves a large percentage of companies wide open to the risks of liability.

In the same 2007 poll, 61 percent of those seeking assurance and protection reported that these decisions increased the price of products and services. However, with one-third of small business owners facing lawsuits, the risk of litigation and pay-out costs weighs heavy in this decision.

Litigation costs rise quickly. The going rate for representation ranges from $100 to $1000 per hour. This figure omits court costs or other fees. Also, if the lawsuit succeeds, judgments can devastate business finances and result in closing down your booth and your dreams.

Are the numbers clarifying the need for coverage? Vendor insurance provides protection for off-site events that may not be covered under standard business coverage. The cost of the insurance and resulting impact on product or service pricing remains minimal in comparison to the astronomical costs of litigation.

Also, some venues require coverage. Contracts may detail the amount and type of coverage needed to set up shop on a company’s property. Also, business investors and lenders may ask for protection of their investment with some level of liability coverage. Finally, your state may require insurance.


Where Can I Get It?

Marine Agency provides for your insurance needs. Vendor insurance policies that fit the needs of your business are our specialty. We offer annual policies for the life of your business as well as one-day vendor insurance policies for special events, trade shows, conferences and the like. Cost saving group options also are available to cover a group of vendors setting up shop at one event.

Contact us today to speak with a friendly and knowledgeable (a real voice, not automated) staff member who will explain the many ways that Marine Agency will ensure that you are insured and prepared for the unexpected!

Contact Us


    34 W Main Street #201
    Somerville NJ 08876

    Local: 973-763-4711

    Toll-Free: 84-INSURE-NJ (844-678-7365)

    Toll-Free: 800-35-MARINE (800-356-2746)

    Northern Delaware

    1218 Pulaski Hwy, Ste 490
    Bear DE 19701

    Local: 302-834-9641

    Toll-Free: 800-681-7261

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