Not all insurance companies are alike. Be careful not to choose the wrong liability insurance. This can be detrimental to your business and can hinder your potential to grow. These are the types of bad investments that can have serious ramifications in the future. Cover all your bases and choose insurance from the right provider.


Non-admitted Insurance

Non-admitted insurance is also known as excess and surplus lines. This type of insurance is not covered by the state.  a red flag for someone searching for the right farmers market insurance. These companies are not scrutinized to the same degree as admitted carriers.  While they must still follow various state laws, these laws are much less restrictive. This gives them more flexibility with underwriting. But their policies are not guaranteed. These carriers do not have access to state-backed funds.  Moreover, if the company goes under, your eligible claims may no longer be covered.

States do not guarantee non-admitted insurance policies. If your provider goes out of business, claims against your business may not payout. In an instant and without notice, you can lose all your invested premiums.  You can also lose the ability to file eligible claims.


Admitted Insurance

This is the type of insurance we provide at Campbell Risk Management.  It means the insurance company has been backed by the state with the state’s insurance commission.  Admitted insurance providers file paperwork with the state’s insurance commission. The benefit of this paperwork is if the insurance agency goes under, your policy is covered. All eligible claims will continue to be paid out for the life of your policy.

With admitted insurance, the state (where your policy is underwritten) backs your policy. State funds guarantee your policy pays out. Moreover, this applies even in the event your provider goes out of business.


Choose the Right Insurance Company

Farmers markets and vendors are the lifeblood of America; vendors the lifeblood of markets. Insuring your farmers market operation ensures continued success. When choosing an insurance carrier, make sure you choose one offering admitted insurance.

For more than 30 years, Campbell Risk Management has offered policies for liability insurance in all 50 states. We offer the most comprehensive coverage on the market today. Get a free quote today or call us at (317) 848-9075. We can show you how Campbell Risk sets farmers markets and vendors up for success!

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