Art Studio Business Insurance

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 For Art Studio

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. General liability helps keep your company from suffering severe financial stress when accidents happen that involve your customers.

General Liability Insurance Includes:

  • Premises Liability – People visit your art studio each day. Whether they purchase products or they simply stop to browse around the beautiful artwork, part of your job as a business owner is to make sure the environment is safe for them. If a customer or visitor has an accident while they’re at your studio, your premises liability coverage will pay for the medical bills and recovery expenses that arise due to that accident.
  • Products Liability – When you sell products to your customers there is a slight chance that one of the products you sell will bring harm to your customer in some way. Whether the product causes physical injuries or property damages, they may hold your art studio legally liable. Products liability helps pay for damages that arise, and can pay for your legal defense fees as well.
  • Completed Operations – If your art studio provides services to clients and customers, one of them may bring a lawsuit against your company after your services have been rendered. Completed operations helps pay litigation and defense expenses, plus pays for settlements and awards.

Business Owners Policy

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:

  • Buildings and Contents
  • Business Income and Extra Expense
  • Electronic Data
  • Newly Acquired or Constructed Buildings
  • Employee Dishonesty Coverage

Business Auto Insurance For Art Studio

If you or your art studio employees drive for business purposes, a business auto insurance policy can protect you from the financial fallout caused by auto accidents. If people are injured in the accident, this insurance can pay for their medical bills. It also pays for the repairs or replacement of property that is damaged, and can protect you from other hazards such as uninsured motorists or hit and run drivers.

Workers Comp For Art Studio

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.

Commercial Umbrella

An umbrella policy provides you with additional business insurance protection over the maximum limits of your existing policies.