I am in the process of getting a Level I Homestead License and I was curious as to what level of liability insurance people acquire. Also, is there a way to cut down on liability insurance if I make my business be an LTD instead of a sole proprietorship.
Thanks in advance...Christina
You will want general liability as well as product liability, I would recommend $1M of coverage (there probably won't be a significant difference in premiums for lower coverage amounts).
I doubt liability insurance will cost less if you set up an LLC, but creating the LLC is still an important step to shield your personal assets from business risk.