Me – “That costs $.25”
Yard-saler – “I’ll give ya a dime!”
Me – “sold!”

Yard-salers are notorious for their unbelievable ability to haggle. Do you think they’re like that all the time?

Cashier at Macy’s – “that purse costs $79.00”
Yard-saler – “I’ll give ya $.84”
Cashier at Macy’s – “Please maam, I don’t want to have to call security”

While a yard sale may transform your cleaning chores into a profitable day, it can also create a setting for a legal and insurance nightmare. For example, you’re legally liable if someone at the yard sale slips, trips, or falls and injures themselves. Such scenarios are exactly why you must know what your homeowner’s insurance covers before you take on the responsibility of inviting yard sale-goers onto your property.

Given today’s litigious mentality, it may be prudent for you to add to your liability protection. You might consider raising your homeowner’s policy’s liability coverage to $500,000, depending on your specific needs and property. An excess liability or umbrella policy can provide additional protection and won’t typically cost more than $350 a year for $1,000,000 worth of coverage.

The Insurance Information Institute has an excellent guide on the insurance needs for various types of yard sale events:

* Charity or fundraiser event – your homeowner’s insurance policy will most likely be adequate coverage during an event to raise money for a charity or non-profit. However, you might also consider contacting the entity to ask if they have any insurance protection to extend to you for the event.

* Occasional or one-time events** – the occasional yard sale that’s designed to sell personal items that you no longer want is also typically covered under your homeowner’s policy, but do consult your insurance agent to ensure you’re adequately covered.

If you are not sure what your homeowners insurance covers, give RogersGray Insurance a shout to discuss – 800.553.1801 or call your RogersGray Account Manager if you’re already a customer!

** there are some specific rules that apply to recurring and routine yard sales, businesses, and sales over $2,000. Please consult your Agency for more information if these rules may apply to you.