What should I know about business insurance?
As I build more and more items for customers I have become more aware of the possibility of being liable should someone hurt themselves on something I have built, fall off a chair, bump into a table, etc. So, I recently got a quote from our local insurance agent for business insurance. It would cover replacement cost of all my tools and liability should someone hurt themselves on something that came out of my shop.
I have to assume that many of you who are selling things from your home-based business have some form of insurance. Does anyone have any pointers as to what should or should not be included? Should anyone wish to see specifics I would be happy to share the quote that I received. In short, I am covered for $20,000 replacement cost on tools and $300,000 per occurrence on liability. There are lots of other things included like glass breakage and such that I have no idea if I really need or not. But, as I understand it, these are commonly included in business insurance.
Any and all advice or comments are most welcome.
“We all die. The goal isn't to live forever; the goal is to create something that will.” - Chuck Palahniuk