A legal requirement for any market trader is that they have public liability insurance. Without this, you cannot obtain or keep your licence. However, a market trader policy will usually be broader than this.
As well as the legally required category, market traders can usually benefit from the security of at least one other kind; cover for their stock and equipment. If you have any staff working for you, then employers’ liability insurance also enters the picture as a second legal requirement. You have to take this into account when you compare policies.
Depending on your products and your storage situation, you may want to make sure that you have insurance for goods in transit, too.
It’s unlikely you’ll find a market trader policy that covers the vehicle insurance and those you do find will probably concentrate on the core insurance offerings (public liability, etc.) and may have some but not all of the others. Making this comparison is much easier online as there are a great many tools to help you.
It’s essential, therefore, when comparing policies to take into account what is covered by each one and whether it’s sufficient for your needs and your legal requirements.
You should also look at the policy’s cost relative to its benefits. Every business is different, and which policy suits you the most is likely to be different from those best suiting your competition.
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