Liability Insurance

Business By christinasconfections Updated 16 Aug 2010 , 5:30pm by jason_kraft

christinasconfections Posted 16 Aug 2010 , 4:46pm
post #1 of 2

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

1 reply
jason_kraft Posted 16 Aug 2010 , 5:30pm
post #2 of 2

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.

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