|
Most professional turners know that their homeowner's insurance policy does not cover their private business activities, inventory, teaching, equipment and property. Most of them have either done without insurance at great risk, or at great expense and effort, have found an agent to cover them. On the other hand, most of the rest of us assume that our homeowner's policy insures us even if we do some sales of our work or occasional teaching. Laws that regulate insurance vary from state to state. In North Carolina, it used to be that activities that were occasional in nature and did not amount to a substantial amount of income were covered by one's homeowner's policy. A few years ago, it changed to say that any activity that was commercial in nature, no matter how few dollars were involved, was not covered. That means that if someone came to my home to buy a piece and was injured, or if my shop burned, or my tools were stolen, or I taught a private class, I would not be covered. Each member should check with your own insurance agent to see if all of your activities are covered by your homeowner's insurance policy. As a service to our members (no part of the premiums go to AAW), the AAW has sought out group policies that individual members can purchase at reasonable rates to cover their commercial activities of woodturning. The first policy that we have found can insure AAW members in the USA with the exception of California, Hawaii, Louisiana, and Washington DC. This policy will cover woodturners whether they work from their home or from a separate studio. We have also found a second policy that will cover in all states but only if the studio is in the home. Applicant can not be located within 5 miles of the Atlantic Ocean, Gulf of Mexico or Bays in those areas. If someone can recommend insurers that will cover Canadian, foreign, or members in these excluded locations with separate studios, please let the AAW know. Smith, Bell, and Thompson Insurance of Hilb, Rogal and Hobbs, a large and well-respected national firm offers the policies that the AAW is sponsoring. They have been offering a similar policy to members of the American Crafts Council (ACC). The first underlying policy is with OCG, the Ohio Casualty Group. This policy includes $1,000,000 general liability, $1,000,000 for products liability, $10,000 medical expense, $300,000 fire legal liability, and with building and personal property for any amount of your choosing, from $2,500 up to $100,000. The second policy is with RLI Insurance Company and includes the same liability limits with options for personal property in any amount from 5,000 up to 50,000 for your in home studio operations. Each person's coverage will be the same except for the building and personal property coverage. Your premium will be based on your location and how much building and personal property coverage that you request. To apply, download an application, print it, fill it out, and mail or fax it to the address on the application. You must be an AAW member to apply.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||