What kind of insurance do artists need?

What kind of insurance do artists need in Australia depends on whether they are hobbyist, freelance, studio owner or selling work, but key insurances include public liability, professional indemnity, property and transit insurance for artworks, and income protection. Public liability insurance is most important, covering $5M to $20M if someone is injured at your exhibition, market stall or studio, or if your artwork damages property, costing $300 to $600 per year for $10M cover, required by most galleries, markets and councils. Professional indemnity covers advice or design errors if you are commissioned and client sues for faulty work. Property insurance or studio insurance covers your art materials, easels, kilns, computers and finished works against theft, fire and flood in studio, costing $300 to $800 per year. Fine art insurance or inland transit insurance covers artworks in transit to gallery or buyer, and while on exhibition, covering damage, theft and breakage, with sum insured based on value, costing 1% to 3% of value per transit. If you sell online and ship, courier insurance is needed. Product liability if you sell ceramics or jewellery that injures someone. Income protection and personal accident if you cannot work due to injury. If you employ assistants, workers compensation is mandatory. If you teach workshops, you need teaching liability. Many artists get package via Duck for Cover, Artist Insurance through NAVA, or Aon for $400 to $800 per year combined.