Let’s start by discussing the issue of selling jewelry on Etsy. You should have insurance, to put it succinctly. Although Etsy has a seller security scheme, it is not comprehensive. It won’t protect you, for instance, if a client alleges that the item they received wasn’t what they ordered or if they were hurt while wearing your jewelry. Owning your own insurance coverage is crucial in these circumstances.
The same rules apply when selling handmade goods like blankets. Even though it might seem like a minor risk, accidents do happen, and clients may hold you accountable. This is particularly true if you’re selling baby blankets or kid-friendly things. In this situation, you should think about purchasing product liability insurance to safeguard yourself from any future lawsuits.
What about normal online sales, though? There are a few different forms of insurance you might require, regardless of whether you sell on Etsy or your own website. You should first think about general liability insurance. This will safeguard you in the event that a client or visitor sustains harm while on your property or as a result of your goods.
You can also think about looking into commercial property insurance. In the event of theft, fire, or other damage, this will safeguard your inventory, equipment, and other company assets. Last but not least, if you employ people, you’ll need workers’ compensation insurance to pay for any accidents they may have on the job.
What must you do in order to sell on Etsy then? You must first build your shop and create an account. The next step is to list your things and determine their prices. Once you begin earning sales, remember to record your income and costs for tax purposes. And, as we’ve stated, don’t forget to think about purchasing insurance to safeguard both you and your company.
In conclusion, obtaining insurance is strongly advised for anyone selling their crafts, even if it is not legally necessary. No matter what handcrafted goods you sell—jewelry, blankets, etc.—accidents do happen, and clients may hold you accountable. By obtaining the appropriate insurance coverage, you may defend your personel and business from potential lawsuits and monetary losses.