Owning an art studio is a wonderful way to bring improvements to your community and the surrounding business areas. It’s also a potentially lucrative way to earn a living, and it allows you to indulge in either your own artistic side or your collectibles hobby. Art studios, like other small businesses, need to protect company profits and assets while also providing the best protection they can for their customers. This is accomplished with business insurance coverage.
General liability insurance is a broad level of coverage for your art studio. It grows as your company grows so that new products and new business locations are automatically protect right from the start.
Example: A visitor trips on an easel during an exhibition and injures themselves. General liability would help cover their medical costs and any legal fees if they decided to sue.
Workers comp insurance is required by law in most states when you have employees. This insurance coverage pays for the employee’s medical bills and recovery expenses if they are ever injured on the job.
Example: An employee hurts their back while moving a heavy sculpture. Workers’ comp would cover their medical expenses and time off work for recovery.
General liability coverage is included in another business insurance known as a business owners policy, or BOP. A BOP protects your art studio against losses of your physical business assets, such as your art studio inventory or the furnishings inside. It can also protect intangible assets such as specialized computer software. BOPs can be custom tailored to provide only the business insurance coverage you need. Examples of other options include:
Example: A pipe bursts in your studio, damaging your artwork and property. A BOP helps cover the repairs and the cost of replacing damaged pieces.
An umbrella policy provides you with additional business insurance protection over the maximum limits of your existing policies.
Example: A large class leads to a major injury on your property, resulting in a costly lawsuit. Your general liability policy only covers so much, and excess liability picks up the rest.
At USA Insurance in Burbank, CA, we’ve spent almost 20 years perfecting our expertise in commercial insurance. We’re licensed in all 50 states, and our experienced agents will make sure your art studio has the right coverage. You’re more than just a policy to us—we’re here to protect your passion, so you can focus on your craft.
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