Local Community Insurance Services - Community Association Insurance; Voluntary Workers Insurance; Volunteer Personal Accident Insurance; Risk Management Process; Risk Management Insurance; Community Group Risk Management.

Do I need Insurance for my market stall?

Yes. Most market organisers require you to obtain adequate insurance before partaking in a market or fair. As a general expectation, market organisers require stallholders to take out a Public & Product Liability Insurance policy, which covers:

• Product liability which protects you if the goods you sell cause an injury or sickness to your customers; and
• Public liability which protects you if you cause an injury to someone in the vicinity of your stall, or you cause damage to third party property.

It is important you have both Public & Products Liability under the one insurance policy. Some insurance providers only offer Public Liability, which means you are not covered for the products you sell.

Some examples of what this policy may cover:

• Your tent/marquee comes loose in windy conditions and hits someone’s car because it was not properly secured.
• A person slips on a wet surface in your stall because you have not made it safe for people to walk on.
• If the products you are selling at your stall, like cakes, cause multiple people to become seriously ill.

How long does public & products liability insurance for stallholders last?

Coverage is available in 30, 90, 180 day or annual periods.

If you run multiple market stalls over the course of a year, you will require an annual policy.

If you run a one-off market, or maybe one here and there over a season, you can opt for duration of either 30, 90, 180 days.

Are there any locations that the coverage excludes?

The policy only covers the Public and Products Liability in the vicinity of the stall you are holding at a market or shopping centre. The policy does not cover you if you are selling from your home or from any other business location (e.g. a retail shop you own). The LCIS Stallholder policy is intended to cover hobbyists operating only at markets, not a commercial business.

Who is covered under this policy?

The Stallholders Public and Products Liability policy covers only an individual and the assistants/family members selling goods at a single stall. If anyone else is attending and selling their own goods, they will require their own policy, even if they are selling from the same stall.

What are liability limits? How much cover do I need?

A liability limit is the total dollar value your policy will cover you for. As a stallholder you have a crowd exposure which increases the risk from a single incident to one that could cause injury and impact numerous people. In simple terms, the larger the event is, the greater the risk and crowd exposure.

To facilitate potential crowd exposures, a higher cover limit of at least $20M is recommended for stallholders. By opting for a $20M limit rather than $10M limit, you are in effect doubling your protection for only approximately 25–35% increase in total premium cost. (Excluding fees and charges)

Do I need to pay excess if I make a claim?

An excess is the additional contribution amount you are required to pay when you successfully make a claim against your policy. To find out how much excess your policy has, check your Policy Schedule in respect of each claim type.

How can policy exclusions affect me?

In simple terms, policy exclusions are a type of risk or loss that is not covered by the policy. When obtaining insurance for a market stall you need to ensure you research the policy exclusions carefully to avoid any potential risk exposures related to your activity, the products you sell or your location.

Some market organisers may offer insurance as a part of the registration fee, while this can be convenient, you need to make sure you obtain the policy information so you know exactly what you’re covered for. All insurance products have policy exclusions. However, it’s important to note that not all policy offerings are the same and exclusions will vary substantially from each insurance provider. Always read carefully what circumstances an insurer excludes from the cover. Check whether the activities and/or products is covered by this easy to read exclusions list here.

The insurer’s ‘Policy Wording’ sets out the actual coverage terms, conditions, limitations and exclusions provided under the policy. Please access these documents on the links provided and read them thoroughly in conjunction with your Policy Schedule and call us immediately if you require clarification on any issue.