Market stallholders should seek out specialised insurance cover this festival season
Many public liability covers are not suited to exhibitors
As the spring festival season warms up, AAMI Insurance has warned stallholders and exhibitors that they could be paying too much by taking out the wrong insurance cover.
Whether it’s a food, wine, art or music festival, most event organisers now require stallholders to have their own Public Liability Insurance cover in place as a condition of exhibiting.
This type of insurance is designed to cover a stallholder’s public liability for injury or damage that they or anyone working on their stall may cause to other people or their property.
However, according to Mr Paul Sciberras, Senior Leader, AAMI Commercial Portfolio, many insurers simply offer standard public liability policies designed for larger retailers with more permanent shopfronts.
“Typically, exhibitors and stallholders only operate for a short amount of time and have reasonably small turnovers,” said Mr Sciberras.
“In these circumstances, a standard public liability policy may provide a level of cover far beyond what is required, without the flexible policy duration options and affordable premiums. This will only further eat into whatever profits the stallholder is making at the event.
“A specific market stall insurance cover is tailored for exhibitors and is a more convenient and cost-effective alternative to those standard policies.”
Mr John Kerr is one stallholder who certainly feels lucky he was covered, after an accident at Western Australia’s Boyup Brook Country Music Festival in February this year.
Mr Kerr runs a small business called Tin Ranch, which sells vintage-style tin signs as home decorations. He has been operating for around 18 months and attends at least one festival or market each month.
As he was packing up his stall at Boyup Brook, a strong gust of wind picked up part of his gazebo, crashing a metal frame into a nearby parked vehicle.
“I was shocked when it happened. The stalls formed a bit of a wind tunnel, increasing the force of the gust. It even blew over one of the neighbouring stalls, smashing a lot of the owner’s glassware,” said Mr Kerr.
The damage to the car added up to more than $1000.
“I was really pleasantly surprised with how easy the process was. The lady who handled the claim was very helpful and the whole thing flowed from there,” said Mr Kerr.
“Once I received the repair quote for the car, a cheque was posted out to me and it was all sorted in a matter of weeks. The whole experience was very simple with no hassles.
“Those of us who regularly exhibit at fairs and festivals often compare the equipment and stalls we use. Insurance is no different. I can certainly recommend the positive experience I had.”
A stallholder can go online to select either $10 million or $20 million worth of public liability cover for three-months, six-months or a full-year. They can also apply to extend the policy to cover any injury, illness or damage caused by their products by contacting AAMI over the phone.
“A certificate of currency is available for printing or emailing immediately upon purchasing the policy. With a minimum of fuss, you can send this on to the festival or event organisers to prove you are covered and get on with running your business,” added Mr Sciberras.
Insurance is issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI. Read the relevant Product Disclosure Statement before buying this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.