This is an important announcement from the AAW.
Our commercial insurance program has changed.
Our commercial insurance program has changed.
Most professional turners know that their homeowner's insurance policy does not cover their private business activities, inventory, teaching, equipment and property. Most of them have either done without insurance at great risk, or at great expense and effort, have found an agent to cover them. On the other hand, most of the rest of us assume that our homeowner's policy insures us even if we do some sales of our work or occasional teaching or selling tools or videos. Laws that regulate insurance vary from state to state. In North Carolina, it used to be that activities that were occasional in nature and did not amount to a "substantial" amount of income were covered by one's homeowner's policy. A few years ago, it changed to say that "any" activity that was commercial in nature, no matter how few dollars were involved, was not covered. That means that if someone came to my home to buy a piece and was injured, or if my shop burned, or my tools were stolen, or I taught a private class, I would not be covered. Each member should check with your own insurance agent to see if all of your activities are covered by your homeowner's insurance policy.
As a service to our members, the AAW has sought out a new insurance program that individual members can purchase at reasonable rates to cover their commercial activities of woodturning. The program that we have found, can insure AAW members in all states of the USA. If someone can recommend insurers that will cover Canadian or foreign members, please let the AAW know.
AMJ Insurance, Inc., a well-respected national firm offers the policies that the AAW is sponsoring. They have been offering similar policies to members of the American Crafts Council (ACC) for several years. AMJ Insurance will primarily use national insurance companies like Travelers, The Hartford, and others. The AAW endorsed program offers specialized policies that can be customized to fit the needs of our member businesses. These policies can include coverages for:
* Business Contents coverage for shows
* Goods in Transit
* Loss of Business Income
* Accounts Receivable and Valuable Papers
* Goods on Consignment
* Liability -Premises and Products
* Coverage if you sell tools or videos
To apply and receive a premium quote, down load an application click here, print it, fill it out, and either scan it to a file and email it, mail or fax it to the address on the application. You must be an AAW member to apply.
If you have any problems or questions, contact
John Hill - AAW Insurance Advisory Committee
