Who all carrys insurance and the pros and cons of not having it

I was just wondering about insurance,, I have it but was wondering if I really need it..Would like feedback on this please...

thanks

Barb

I do, just feel like I would be taking on too much risk without it. I think it was the very first thing I did. I have had to have a certificate sent to one festival proving that I was insured so that I could rent a booth, but I just feel like I am protected, and so are the people I paint by having insurance. I use it as a selling point for myself, a reason to hire me, because I am insured. I think it makes good business senses.

As was my thought..I got it right away..i feel better knowing i have it just in case..I have only been asked by a few customers for it..bigger events.Im glad I had it..and I will continue to keep it..I was just wondering what most did..or if they even had it...

thanks for your input...

Do you really need it?
Well, you won't know until you do. That's the reality of insurance. I may never need it. Then again, I might.
I know that's not the logic you're looking for, so here's mine and why I carry insurance.

1. I believe in supporting the highest standards for our industry. For me, that means presenting a professional image. In the professional world, businesses carry insurance. Having insurance sets my business apart from the "craft paint hookers" and newbie face painters in my area. I have acquired some large $$$ gigs in part because I had insurance and competition did not.

2. Our products are relatively "safe" but allergies exist and human error exists. I carry car insurance not because my car is inherently unsafe or because I drive without care, but because accidents can happen.

3. We work with kids, and more importantly, potentially uppity parents. Face painting is a luxury item (as opposed to necessity), so the parents we work with may have more financial flexibility and ability to engage in lawsuits. I do not have similar ability or financial mobility to fight back. While having insurance does not prevent someone from suing me, it does limit the amount of money I might have to pay out of pocket. I plan to become an LLC for similar reasons.

4. Insurance costs about two gigs depending on your pricing. If you work more than two gigs in a year - you've paid for it.

thanks so much for the info..I would never go with out it..I was just wondering about other painters

If you are operating a business you need business liability insurance. If you have a large kit you should probably insure it for loss or theft.

If you don't have liability insurance you can be sued and your personal assets are at risk.

I've always had insurance, and kit replacement insurance.

There really is no negative to having insurance other than shelling out the $200 or so dollars that it takes to buy it. When you get insurance, you have to make certain promises- like using only skin safe products. A painter set on acrilics and craft glitter will not be able to continue those practices if she gets insured. So I guess that would be considered a con from her perspective. I will admit, that I didn't start with insurance right out of the gate- it took me a about 6 months to get there (which happened to line up nicely with the registration period! ). But it was always in the plan because I knew it was an important part of legitimizing my business and keeping myself and my customers protected.

I have insurance, defo worth having. Not only do you have piece of mind on the rare occasion that something may happen. You also look more professional for clients.