Idaho Artist Insurance Policy Information
Idaho Artist Insurance. As an artist or craft artist, you love your job. The ability to express your creativity and bring joy to your clients - and the world - is so incredibly rewarding. But, there are a lot of aspects that are related to your business that aren't as enjoyable as the art you create; insurance, for example.
Artists use their imaginations, talents and skills to produce drawings, paintings, statues, sculptures, or other types of artwork on contract or consignment. They often work independently. Completed artwork may be displayed in homes, museums, galleries, offices, restaurants, or other establishments. In addition to their ID studios, artists may have facilities for art classes.
Many artists don't realize that there are a lot of risks that are associated with their work. By carrying the right type of business insurance coverage, you can protect your supplies, projects, staff, clients - and your personal assets - from various liabilities and the financial devastation that could come along with them.
Why is insurance so important for artists and craft artists? What type of insurance do you need? Find out more about Idaho artist insurance for your art-related business below.
Idaho artist insurance protects your art and/or craft business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Is Insurance So Important For Artists and Craft Artists?
No matter what type of industry you work in, owning a business is risky. In the middle of painting a client's portrait, a light bulb could explode and rain down on her head. You and your team were hired to build and install a custom piece of furniture, and in the process, the client's property was damaged. A fire could break out in your studio, sending all of your projects and supplies up in flames. Someone could sue you, claiming that the images you took were defamatory. While visiting your gallery, someone could slip and fall on a wet floor.
These are just some of the incidents that could arise, and you would be financially liable for each one. You could be responsible for covering the cost of property damage, medical bills, legal fees, and settlements. Without the right type of Idaho artist insurance coverage, the financial impact could be devastating to your business; your personal assets could be affected, too. Insurance will help to pay for the costs of covered risks, thereby helping you avoid financial devastation.
What Type Of Insurance Coverage Should Artists Carry?
The work that each ID artist does is unique, so are the commercial insurance needs. When it comes to determining what type of Idaho artist insurance coverage you need, there are a variety of factors that need to be taken into consideration; the specific type of art you create, the materials and supplies you work with, whether or not you employ a staff, where your studio is located, etc...
However, there are some key forms of coverage that all ID artists should carry, including:
- Commercial Property - This form of coverage protects the physical property that you use for your art business from certain perils, such as fire, flood, storm damage, vandalism, and theft, for example. It covers both the physical structure of your property, as well as the contents within it. For instance, if a pipe bursts and your studio, canvases, paints, brushes, wood floors, ceiling tiles, and anything else were damaged, instead of having to pay for the damages yourself, your insurance would foot the bill.
- Commercial General Liability - This type of insurance protects you against any third-party injuries or property damage that may arise on your property or as a result of the services that you offer. If you and your crew ever damaged a client's property while installing a work of art or someone slipped on a puddle in your gallery, commercial general liability insurance would cover the cost of the associated damages and medical care. It would also assist with any legal expenses, should a third-party file a lawsuit.
- Workers' Compensation - If you employ a staff or you rely on volunteers, you'll also need to carry workers comp insurance. Should a volunteer or employee sustain an injury or become ill as a result of conditions within the workplace, your workers' comp policy would cover the cost of any necessary medical care. If the individual is unable to work while recovering, it would also partially reimburse missed wages. Should he or she file a lawsuit, workers' comp could also help to pay legal expenses.
These are just some of the types of insurance coverage that artists and craft artists should carry. Other coverage options might include commercial auto, inland marine, and commercial umbrella insurance.
ID Artist's Risks & Exposures
Premises liability exposure may be limited if there is no public access. If clients visit the premises, aisles must have adequate space and be free of debris. Flooring should be in good condition with no frayed or worn spots on carpet and no cracks or holes in flooring.
Artist supplies and works in process may present an attractive nuisance to children. Sufficient exits must exist and be well marked, with backup systems in case of power failure. Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls.
Products liability exposure is generally low unless the artist offers restoration services for high-valued pieces. If reproductions are made, they should be clearly marked to avoid disputes such as duplication, copyright, or trademark infringement.
Workers compensation exposures can be heavy due to lifting, falls from awkward positions, being hit by falling artwork, cuts, hernias, sprains, back strains, and foreign objects in the eye. There may be a wide variety of operations and hazards. If work is primarily done on computers, potential injuries include eyestrain, neck strain, carpal tunnel syndrome and similar cumulative trauma injuries that can be addressed through ergonomically designed workstations.
Welding operations can result in burns, damage to eyes, and inhalation of toxic fumes unless protective equipment is provided and there is adequate ventilation. Installing work in museums or other establishments may require the use of ladders or scaffolds. Inhalation of toxic fumes or allergens from paints and other materials can present occupational disease exposure.
Property exposures come primarily from fire as art studios are often full of combustible materials used in the creative process. Flammable paints, etching and finishing compounds, and chemicals used for cleaning must be properly stored, separated, and controlled.
Sculptures may be carved in a traditional manner from wood, stone, or other solid material, or by welding materials together. Welding should be conducted in a separate area away from combustibles. Ceramic artists may have kilns on premises that operate at high temperatures. The kilns may burn continuously and must be monitored to prevent overheating. Operating kilns without adequate ventilation systems can build up flammable vapors and heat that can result in fire or explosion.
Some artwork is extremely fragile and may be damaged by breakage, fire, water, or smoke damage. Poor housekeeping, such as failure to collect and dispose of trash on a regular basis, could contribute significantly to a loss. Studios may be targeted by thieves. Appropriate security controls should be taken including physical barriers to prevent access to the premises after hours and an alarm system that reports directly to a central station of the police department.
Equipment breakdown exposures are from the breakdown of heating and air-conditioning equipment. Breakdown of climate control systems may cause serious loss, especially to the artwork.
Crime exposures are from employee dishonesty and theft, particularly if the art items have high value. Hazards increase without proper background checks. All billing and disbursements must be handled by separate individuals, inventoried and reconciled on a regular basis. Artwork may be valuable. There should be theft controls, alarms, lighting and physical barriers to prevent access to premises, both at the studio and while off premises.
Inland marine exposures include accounts receivable if the artist offers credit, computer, are for fine arts, and valuable papers and records for customers' and suppliers' information. Some artists exhibit their work only at their studio while others provide artwork for exhibitions or sell through a consignor. Special packaging and handling are required for highly breakable or damageable works while being transported to and from exhibitions or consignment shops. If the artist develops their work entirely on computers, the work could be lost due to mechanical breakdown or hacker activities.
Business auto exposure is generally limited to hired and non-owned liability. If vehicles are supplied to employees, there should be written procedures regarding personal use by employees and their families. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and records kept in a central location.
Artist & Craft Artist Insurance
To learn more and ensure that your business is properly protected with the right Idaho artist insurance, speak to a reliable insurance broker about your specific needs.
Idaho Economic Data, Regulations And Limits On Commercial Insurance
If you are an entrepreneur, you need to have more than just high-quality products, great services, and a well-designed business model in order to achieve success. You also need to set up your operations in the right location.
It doesn't matter how high-quality your goods and services are, if your business is situated in a region that lacks the market you are trying to reach and doesn't have a strong workforce, chances are your company isn't going to succeed. Therefore, it's crucial to familiarize yourself with the economy of the state that you are thinking about starting a business in.
Whether you are considering establishing a startup in Idaho or you want to expand your existing operation by opening a subsidiary in the state, read on to learn more about Idaho's economic data.
Additionally we also provide a brief introduction to the commercial insurance policies you'll need to invest in.
Economic Trends For Business Owners In Idaho
The unemployment rate of a state is a good indicator of a state's economy. It indicates whether or not businesses are flourishing and if there are enough jobs to support the state.
As of December, 2019, the Bureau of Labor Statistics stated that the unemployment rate of Idaho was 2.9%, which was 0.6% lower than the national average, which was 3.5% at the same time. Throughout the course of 2019, the unemployment rate remained steady. According to economists, the rate of employment is expected to remain the steady in the upcoming years.
There are numerous locations in the state of Idaho that prove to offer a healthy environment for businesses. These locations include major cities and the suburban regions that surrounded them, such as:
- Couer d'Alene
- Idaho Falls
- Twin Falls
While businesses of all sizes and in various industries do well in Idaho, there are certain sectors that tend to do better. The top industries in this state include:
- Agriculture, with some of the top products being dairy, trout, lamb, wool, craps, seeds, potatoes, and several other types of livestock.
- Food and beverage processing, including canning and freezing plants.
- Healthcare and Biosciences, including nursing, dental hygiene, and physical therapy.
- Hospitality and tourism, thanks to the numerous tourist attractions, including annual concerts, festivals, whitewater rafting, and skiing.
- Manufacturing, specifically of electrical equipment, computer equipment, fabricate metals, and chemicals.
Commercial Insurance Requirements In Idaho
The Idaho Department of Insurance regulates insurance in ID. Idaho mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Idaho requires you to have worker's compensation insurance if you hire even one employee on a regular basis - unless you are specifically exempt from the law. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Idaho also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Arts & Recreation Insurance
Read up on small business arts and recreation commercial insurance.
- Amusement Parks
- Archery Ranges
- Athletic Fields
- Billiard And Pool Halls
- Bowling Alleys
- Cave Tours
- Dance Studio
- Disc Jockey DJ
- Drive-In Theaters
- Entertainers And Performers
- Event Planning
- Fairs And Fairgrounds
- Film Production
- Fine Art
- Guides & Outfitters
- Handball & Racquetball Courts
- Horse & Dog Racetracks
- Indoor Sports Complexes
- Interior Decorator
- Interior Design
- Motorsports Racetracks
- Photo Booth
- Recording Studio
- Recreation Centers
- Riding Stables
- Roller Sakting Rinks
- Shooting Ranges
- Skeet & Trap Shooting Ranges
- Ski Resorts
- Talent Agency
- Tennis Centers
- Video Arcades
- Wedding And Special Event
Commercial insurance policies for arts, entertainment and recreation are specialized policies that protect against the unique risks that arts and recreation businesses face.
Performing artists and companies, entertainers including musical groups, theatre groups, comedians and more, writers, performers, photographers, videographers, DJ's and so many other types.
Professional liability coverage (errors and omissions) is needed in these cases to protect their financial interests due to mistakes, errors or omissions by these professionals in doing their jobs. Fr example - a bride and groom did not like the way their wedding photos turned out.
Or a wedding planner might plan a lavish wedding, but the bride's parents who are paying for it did not like the way it went. There is a lot of gray areas with arts, and you need to be protected if your clients don't agree with you that your work was what the agreed to.
If your business is involved with children, you need to review your coverages very carefully so certain important protections are not excluded. Abuse and molestation insurance might be needed to fully protect yourself in this instance.
Minimum recommended small business insurance coverage: Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Commercial Articles Floater, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Bailees Customers Floater, Money and Securities, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
Request a free Idaho Artist insurance quote in Aberdeen, American Falls, Ammon, Ashton, Bellevue, Blackfoot, Boise, Bonners Ferry, Buhl, Burley, Caldwell, Cascade, Challis, Chubbuck, Coeur d'Alene, Cottonwood, Council, Dalton Gardens, Driggs, Eagle, Emmett, Filer, Fort Hall, Fruitland, Garden City, Genesee, Glenns Ferry, Gooding, Grace, Grangeville, Greenleaf, Groveland, Hailey, Hagerman, Hansen, Hayden, Heyburn, Hidden Springs, Homedale, Idaho Falls, Inkom, Iona, Jerome, Kamiah, Kellogg, Ketchum, Kimberly, Kootenai, Kuna, Lapwai, Lewiston, Lincoln, Malad City, Marsing, McCall, Meridian, Middleton, Montpelier, Moreland, Moscow, Mountain Home, Nampa, New Plymouth, Orofino, Osburn, Parma, Paul, Payette, Pinehurst, Plummer, Pocatello, Ponderay, Post Falls, Preston, Priest River, Rathdrum, Rexburg, Rigby, Riverside, Robie Creek, Rupert, Salmon, Sandpoint, Shelley, Shoshone, Soda Springs, Spirit Lake, St. Anthony, St. Maries, Star, Sugar City, Sun Valley, Troy, Twin Falls, Tyhee, Ucon, Victor, Weiser, Wendell, Wilder and all other ID cities & Idaho counties near me in The Gem State.
Also find ID local small businesses by General Liability Class Code and learn about Idaho small business insurance requirements for general liability, business property, commercial auto & workers compensation including ID business insurance costs. Call us (208) 325-5655.