Commercial And Liability Insurance For Rented Studio

[ABinBoston]

I am renting a small studio and will be making pens there. I am having a hard time getting a commercial policy with liability insurance for a fixed location. So far I have found insurance for home based businesses, shows, transport, etc. One company quoted me, then said they do not want to write a policy for a pen mfg. company. Does anyone have insurance for liability, business equipment, etc?

 

I am in the MA area. Any help or referrals is appreciated.

 

Thanks

Edited October 27, 2016 by ABinBoston

[Beechwood]

I would suggest that you speak to a local insurance broker or agent and let them do some footwork for you.

 

It is possible that the issue of concern is Product Liability for a home based company, or just that Pen Makers was not in their list of approved trades.

 

Insurance cover for machinery, stock, raw materials and liability cover for shows and people coming to your premises should not be an issue.

 

Hiscox is a company that has a soecial pollicy for home based businesses

 

http://www.hiscox.com/small-business-insurance/home-based-business-insurance/

[ABinBoston]

Thanks for the reply. This is not a home based business. It is a rented studio. Pen makers not being in their approved trades was the issue with the one company I mentioned.

Edited October 27, 2016 by ABinBoston

[Beechwood]

Understaood, I would still go to a broker who specialises in smaller business such as:

 

https://www.charlesriverinsurance.com/small-business-insurance-massachusetts

[ABinBoston]

Thanks, I'll give them a call.

 

AB

 

 

Understaood, I would still go to a broker who specialises in smaller business such as:

 

https://www.charlesriverinsurance.com/small-business-insurance-massachusetts

[carlos.q]

Instead of labeling your business as a "pen manufacturing company" maybe you should try something like "artisan workshop" or "hand made luxury item workshop"...

[Beechwood]

Instead of labeling your business as a "pen manufacturing company" maybe you should try something like "artisan workshop" or "hand made luxury item workshop"...

 

 

Or office equipment providers including writing equiment.

[inkstainedruth]

We had a different issue when getting liability insurance for our small business. We run a food booth, mostly at just one event per year. Originally we had insurance through a company that specialized in transient-type businesses (on the recommendation of an acquaintance that makes and sells costumes). Now we have it through a regular insurance company, and did go through an insurance broker.

A few years ago the site owners for the biggest event the organization we belong to instituted a requirement for vendors to have liability insurance. A lot of people were whining about how this would push smaller vendors out (this is, BTW, an event we will probably never be able to get into). I told them that they really needed to get over themselves -- as food vendors, we have a policy for *twice* the amount of liability coverage than the site required (because it would be stupid for us not to). And it cost us a whopping $250 US per year, and I considered it a legitimate business expense. It's way less than what we have to pay to rent a tent, or a box truck to haul the equipment.

That being said, there may be issues with zoning for the space you're renting. Recently I noticed a coffee shop about a mile from me (and inside the Pittsburgh city limits) had closed, and the notice on the window said that the storefront could *only* be used for a similar business (i.e., another coffee shop).

Ruth Morrisson aka inkstainedruth

[ABinBoston]

I am renting an art studio zoned for light industrial. There are furniture makers and all kinds of artists in the complex. I have one valid quote from Liberty Mutual, and as a courtesy, I am waiting for another from one more large ins agency that specializes in commercial/mfg insurance, so it is looking like I will be able to get the insurance required by the company I am leasing from.

 

I saw on some insurance websites that there is a list of prohibited industries and vapor pens is listed on there, so I explained that what we make is unrelated. Maybe at a quick glance the underwriters saw vapor pens and said no based on that.

 

I can't wait to get my shop operational next week. I have been collecting tools, equipment and supplies for well over a year. I have 2 other businesses, one a computer consulting co, and the other an antique and classic auto appraisal co, so the pen co will be a part time thing.

 

This site has been an excellent resource for anything pen related.

 

AB

[ABinBoston]

Yay! Got suitable insurance. I just said ok to a policy that works well. Thanks to all for your help and suggestions.

 

AB