Business Owner Policy - Insurance

[Lindy]

.....images of granny standing over an open fire, with a cauldron hanging from sticks tied in a teepee shape- stirring and stirring......

Hey who let those pictures out of my soap factory!!! Sheesh now the secret is out!

I can only comment on insurance here in Canada and it is a different set-up.

SideDoorSoaps congrats on finding the right insurance company who is going to meet your needs!

 

[khermsen]

It is my understanding an LLC will protect personal assets. The product liability insurance coverage will pay for court and lawyer fees associated with a product lawsuit.

 

[Lindy]

In Canada (I don't know about the States) if you are proven negligent then all bets are off and your incorporation will not shield you. However, having said that, incorporation does protect your personal assets in most situations and negligence is relatively hard to prove if you are following best practices. Liability insurance does cover any damages found against you which is why you want a minimum of $1 million.

 

[Kenjifujima]

Yay for you! Te mando good thoughts your way is the perfect companion for you!


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