I have a secondary insurance account for all my shipments that go
through Fedex. The company’s name is Parcel Pro (for those
interested in contacting them email me privately) and rates run from
$15.00 for $100.00, $37.00 for $10,000.00 and up to $150 for
$50,000.00 in insurance for a one pound package priority overnight.
Each additional pound is around $2.00. Thankfully, I have never had
to make a claim though I did lose a package that was not insured
(figures…damn that murphy!).
Though this will not solve the problems of those who have to ship
massive amounts of work to shows, it may be an option for some who
have smaller amounts to carry. Myself, I have a retail show in
Sarasota FL in December to go to. I probably won’t be flying as I
hate to ship my display, but if I were, I could at least make some
arrangements for my work to be shipped. It may be easier to break
down the amount of work and ship it via registered mail if you we can
get show organizers to do thier part. I know most of the designers
who go to the major shows will ship thier mechandise through armed
security companies like Wells Fargo and the like. I can’t imagine
how much that costs!
We will all have to weigh the financial cost of documentation and
shipping expense with the cost of personally driving our mechandise
to each and every show.
The people to help us with lobbying the government about our shipping
problems related to the new rules is MJSA (Manufacturing Jewelers and
Suppliers of America). They already lobby on behalf of jewelers, and
have done so successfully for years. Remember the Luxury Tax? Those
who are members should ask MJSA what plans are in store to lobby for
such changes related to the new air security rules. It is in the
interest of the government to help industry deal with the new reality
so as to prevent further ecomonic damage to an important industry.
Larry Seiger
Your letter was very helpful. Regarding insurance, as a one man job
shop newly started, do you have any suggestions regarding liability
insurance and other types needed in my operation. Are there
companies that supply these at reasonable prices? Most of my
business is a one day turn around but some is not.
Your letter was very helpful. Regarding insurance, as a one man job
shop newly started, do you have any suggestions regarding liability
insurance and other types needed in my operation. Are there
companies that supply these at reasonable prices? Most of my
business is a one day turn around but some is not.
You first must analyze your risks. How much of other people’s work do
you have in your shop overnight? What would be your liability if
something were to happen? Are you at risk of burglary, fire, do you
work from home or in a rented studio. If at home what would you do if
a fire caused your house to be compromised, if in a rented studio and
there was a fire you would be held responsible for damage of the
building, you need to protect yourself in the case of extreme, though
unlikely catastrophe. I would suggest speaking to a n insurance
professional who specializes in jewelers or other businesses, though
business liability insurance and product liability can be purchased
from other insurance companies. If you work from home, your home
insurance company would probably drop you if they knew you had
business liability coverage as well. It is a catch-22 that even I
have not yet found a way around, though i’m working on it.
One thing that is equally important is health and disability
insurance. If you get sick and are unable to work, which, depending
on how old you are probably won’t be as much of a problem as just
plain getting sick, also need s to be dealt with and may be even more
important than other types of insuranc e.
Make sure you get good advice on these topics. It is easy to have so
much insurance that you don’t have money for anything else!
Good luck!
Larry Seiger