How long has AdultSure been offering insurance to the adult industry?
We’ve been in the market about five years now.
What prompted you to target this sector?
It’s something we fell into – we were approached by a sauna who was struggling to find appropriate insurance. We worked with them and our insurers to find them the protection they needed, and we quickly realised there was a great opportunity to provide protection to a neglected sector. Adult businesses are no different to other businesses, and they have the same insurance needs yet are often overlooked by mainstream insurers.
What types of adult businesses do you offer insurance products to?
A wide variety. Manufacturers, retailers, venues, event organisers, saunas, gentleman’s clubs, photographers, and videographers.
Are there any types of adult business that you won’t insure?
At the moment we cannot provide cover for individual content creators, for example those on Only Fans, but we can insure the platform. However, like with all insurance, regardless of whether it’s in the adult sector, it all comes down to the risk.
There are very few absolute no’s when it comes to our insurers, providing our clients have stringent plans in place to protect themselves. For example, if they are a retailer using a manufacturer abroad, we want to know what safety checks are in place. Do they have rights of recourse against the manufacturer if something was wrong with the product? If they export to the US, how do they protect themselves? Is their product certified? If it’s a sauna, are there non-slip floors installed in any wet areas? Are IDs checked at entry?
Which types of policy are the most popular?
The most requested types of protection are Public and Products Liability and Contents. We find however that a lot of clients have either never had to deal with insurance before or are unaware of the potential risks that they face.
For example, if they process names of customers or guests, they can be exposed under the GDPR regulation and have a need for Cyber Insurance. Or, if they are a commercial landlord, they can be protected against tenancy disputes or supported with chasing rent arrears, alongside their standard buildings and contents policy. For some clients we cover everything for them – their house, business, car, and even their travel for when they’re taking some time for a well-deserved holiday.
We work with our clients to understand their needs for insurance, establishing what they are looking for vs how we can help, and we create a policy that’s right for them.
How does the adult sector compare with other areas of business, in terms of claims?
The adult sector is no different to any other industry in terms of claims. If you’re a retailer with a physical shop, it’s no different whether you’re selling a vibrator or greeting cards. Someone can come in, trip over, and hurt themselves. The same can be said with event organisers. If you’re putting on a swinging night there are similar risks as weddings: what if someone trips over a decoration you’ve placed? What if the event needs to be cancelled?
Is there a premium a customer can expect to pay just because he or she trades in adult products?
There’s an age old saying ‘there is nothing more expensive than cheap insurance’, however we and our insurers know there is a juggling act between finding great coverage that meets your budget.
When it comes to premium, each client is rated based on their own circumstances, so the prices vary. If they’re a venue, how late are they open? If they hold stock, what is their sum insured?
The market for adult insurance is admittedly limited, and we’ve seen often that clients will purchase insurance online, where they’ve shoe-horned themselves into a product category or policy that isn’t actually fit for purpose. This puts them at risk of having claims declined and having policies invalidated if the worst were to happen. Where they’ve paid £1,000 previously for incorrect coverage, they could pay £5,000 for correct, comprehensive cover.
How quickly can a policy be put in place, from initial contact to being covered?
This varies, primarily depending on the risk. What I would say is don’t leave your insurance to the last minute, particularly when you are shopping around at renewals. In an ideal world we will know your business inside out on the first call and we can pre-empt additional questions that could be asked by insurers based on our experience. This way quotes can sometimes be issued within 24 hrs. However, where risks are complicated, whether due to overseas exposure or activities, quotes can take up to a week or two whilst the insurers and their underwriters review the details, especially if they need additional information.
Why should our readers use AdultSure?
We understand our clients just as much as we understand insurance. When you speak to us, you speak to a real person, not a robot and not a call centre. We know insurance isn’t one size fits all, so we create bespoke coverage that fits like a glove, meaning you can focus on running your business knowing you have the correct protection in place. If the worst is to happen we will be with you step by step, offering full support in the event of a claim.
Who should our readers contact if they would like more information or a quote?
Readers should call our office on 01924 499182, we’re open Monday to Friday, 9am to 5pm. Alternatively, drop us an email at [email protected] and if you reference this article we will give you £50 off!
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