Compare business insurance quotes with Savvy to find the best policy for your market stall.
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Having a market stall can be an enjoyable and profitable stepping- stone between a part-time hobby and a full-time business. Many people also use a market stall to sell their homemade goods or produce grown on their farm or market garden. Whatever your reason for having a market stall, finding the right insurance is an important task to protect yourself in case something goes wrong.
You can compare quotes for all types of business insurance here with Savvy. Just answer a few simple questions about your business venture and the insurance you need, and within minutes you’ll have multiple quotes from a range of respected insurers to compare. Use our quick and easy comparison service to make sure you get the best-value insurance for your market business today.
Running a market stall will bring you into contact with members of the public. With crowds of people comes the responsibility to keep them safe and to make sure you’re covered just in case anything does go wrong. The types of insurance you may need if you’re thinking of running a market stall include:
Public liability insurance
Public liability insurance is essential for anyone thinking of starting up a market stall. It will cover you against claims that your business activity caused injury to a member of the public or damaged their property. It’s easy for a customer to accidentally trip over a power lead you’ve placed on the floor, which could lead to a claim for personal damages or injury. This insurance can offer between $5 million and $20 million worth of coverage and is compulsory for market stallholders in most cases.
What it covers:
Product liability insurance
Product liability insurance will cover you against third-party claims that a product you sold was faulty or caused material loss, sickness, injury or death. This type of insurance is important for anyone who sells fresh produce or beauty products, as anything which is ingested or put on the hair or skin, carries the additional risk of bacteria and virus transmission. Cover starts from $250,000 and can be bundled together with public liability into a business insurance package.
What it covers:
General business insurance
General business insurance may also be worthwhile if you have tools, portable equipment, machinery or stock to protect as part of your market business. This could include lifters or trolleys you use to load and carry your produce and even the trestle tables, awnings, canvas and lighting you may own which form part of your business equipment. Commercial vehicles aren’t included, so you may need separate commercial vehicle protection for your market stall’s van or ute.
What it covers:
What isn’t covered under my market stall business insurance?
The most common general exclusions include:
There is no set cost for an insurance policy, as each applicant is different and faces unique risks. There are many factors that can influence the cost of business insurance, including the following factors:
The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.
You can find out how much insurance will cost for your business by comparing quotes right here with Savvy. Whether you need insurance for a one-day event or a permanent market stall, you’ll be able to find a policy that is perfect for your business needs.
You’ve worked hard to set up your market business, so it makes sense to want protection in case things go wrong. Business insurance offers protection in case anything happens to your market stall equipment or products. It’s there to ensure your market income continues whether you suffer theft, vandalism or fire.
Most small to medium-sized businesses have some contingency funds, but rarely sufficient to cover the cost of a major catastrophe. For example, if your business in Victoria involves a market stall that catches fire, you could potentially lose all your stock and equipment. If this happens and you have adequate insurance to protect your business, you’ll have a much better chance of getting back on your feet quickly.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
