When you start up in business you will need insurance cover. Contact an insurer and explain exactly how your business will operate. They will then be able to recommend what cover you should have. This might include:
- employer's liability
- public liability
- premises, premises contents and stock, including accidental damage
- goods in transit (on the way back from auction, going to trade fairs and so on)
- goods in trust - for example items which you are selling on someone's behalf, or which you are restoring
- defective title
- business interruption
- business motor insurance
From time to time you may need to increase your level of insurance cover if you have something particularly valuable in stock.
Both BADA and LAPADA can provide details to their members of insurers who understand and work with the antiques trade.
Full accredited members of the British Antique Furniture Restorers' Association (BAFRA) benefit from access to favourable insurance terms, and discounted premiums are available to LAPADA members.
Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due. Enter them in the months when you will pay them.