Insurance......for small buisness....

Im in the works of plans to start a one man buisness building/maintaining saltwater tanks. Havent got into the politics/legal aspects yet but need to to get stuff running. ANy one here have any knowledge of what kind of protection i would need (if any) for a venture like this. I currently service about 6 houses and a dentist office.....i am getting a bit intimidated by horror stories of a coworker who was threatened to be sued when a tank crashed. I plan on keeping it small with only me....i was thinking a waiver instead of insurance....depending on the cost. Any thoughts here >>>>? :-/

 

just to let you know insurance would be the way to go for any small or big biusness its not that expensive where i live and its a good piece of mind good luck

 

I agree with the insurance, plus waivers don't always hold up in court (can't possibly think of every eventuality)

Additionally, I would add, INCORPORATE!  It costs about $500 here in PA , I recon it is about the same across the country.  It protects all your PERSONAL assets.  Car, home, bank accounts, etc.  If you are sued, they can only get from the insurance, and the company assets. ;D

Pretty reasonably priced peace of mind.  You could also look into LLC (limited liability corporation) instead, but I am not sure of the details on that.  When we had our small business, we incorporated. ;D

 

Professional Liability Insurance. Talk to your local property and casuality guy. He should carry it. I'm in the life insurance, disability income, long term care and investment business so I can't help you. Sorry.

 

Also, check with your local Small Business Association...they may have group rates...advice, etc.

 

Thanks guys, Im looking into it on monday.