As a flea market business owner, you are responsible for managing inventory, assisting customers, daily setup and breakdown, stocking, record keeping, and possibly even human resources if you have a few employees. However, if an accident happens in your store or as a result of an item you sell, you might also find yourself responsible for legislative expenses and damages, which can quickly add up to exorbitant amounts that could put you out of business. Business insurance can protect you under these circumstances. There are several types  of business insurance you may want to consider, so we’re going to break them down for you.

Contents Insurance – Contents insurance is a type of policy that it would benefit nearly every market vendor to have. A basic contents policy will cover the items in your store — your point of sale system, any computers, shelving, furniture, and displays. Please be aware that these policies may or may not cover the actual stock; be sure to talk to your insurance agent to see if that is covered in your basic policy, or if you will need to add stock insurance. This helps ensure that if your store were to be damaged in a flood or fire, you will be able to open up and start earning income again as soon as possible.

As a flea market vendor, you likely spend a fair amount of time bringing new products to your store. Whether this is in a business vehicle or a personal one, if you were in an accident or had products stolen out of your car, you could easily lose hundreds or thousands of dollars in an instant. Goods In Transit insurance covers products before they arrive at your store, so your stock is protected wherever it is.

Liability Insurance – Any business that interacts with the public should consider adding liability insurance. This insurance helps protect your business from the costs of legislation and damages if a customer becomes injured in your stall or becomes ill as a result of something you sell. A lawsuit can quickly get incredibly expensive, and in many cases liability insurance may be all that allows you to remain in business.

Worker’s Compensation – If you have any employees working for you at your flea market shop, worker’s compensation can protect both you and your employees in case they were to become sick or injured due to their job. This insurance protects you from lawsuits, and provides your employees with income and assistance with any medical expenses. In some areas, this insurance is actually required to have if you have employees.

These are just a few of the many types of business insurance available. Depending on where you sell, what you sell, and how much you sell, there are a variety of policy types that your business might benefit from. To make sure your business is as protected as possible with affordable insurance policies, speak with an insurance professional to find a pre-made or custom-built policy for your business.