If you’re looking to make some extra cash, having a garage sale is an excellent idea. You don’t want to lose all the money you make from a garage sale in a liability lawsuit, though. If you’re thinking about holding a sale in Astoria, OR, let us at Linda Dugan Insurance help you check your liability coverage before the weekend of your sale.
Maximize Your Earnings
One of the main reasons to have a garage sell is to sell things — and get money. There is an art to successfully selling items at a garage sale, though. To maximize your earnings, you can:
- clean items before placing them out for sale
- price items reasonably at ¼ to ⅓ of their original price
- combine your sale with neighbors’ sales to attract more people
- let people know you’re willing to negotiate on the last day of the sale
In general, success at a garage sale doesn’t come from selling a few items at prices that are just slightly lower than their initial values. Instead, it comes from presenting items well, attracting people and pricing items low so that they sell.
Check Your Liability Coverage
Accidents at garage sales are rare, but they happen occasionally. If someone is hurt at your garage sale, you might be held financially responsible.
Liability coverage, which is included in most homeowners insurance policies, provides homeowners with protection against covered incidents. If you have adequate liability coverage, and the accident is covered by its terms and conditions, your homeowners insurance policy might protect you from any lawsuits filed over the accident. This is the best way to protect yourself and your garage sale earnings from such a risk.
For help checking your liability coverage, contact us through our website. Even if you didn’t purchase your policy through us, our agents would be happy to review your coverage with you.