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Old 19th October 2004, 07:26 PM   #11
Curt415
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Quote:
Originally Posted by David Wallace
One thing an individual can do when they have considerable personal assets and/or wealth is to buy a balloon insurance policy that covers you for a million or so dollars. My insurance agent is trying to get me to buy one but I haven't given in yet. I already hate how much money flies out the window every month on insurance and all because we "fear the worse" whether that be related to auto, home, health, etc. Part of life I guess.

Haha, even as a professional in the business, I do hate having to pay for insurance month to month especially when nothing happens. I guess that's one of the cons in the field I work in. I look like a thief when all I'm trying to do is help my clients protect their assets. After the stories I've heard and the incidents I've seen in the business, I'm scared into believing insurance really is neccessary. That is unless we get some Tort Reform.

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Old 29th March 2006, 11:10 PM   #12
dawson
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I am new here. I have read all the posts. But are there any websites or books that I can read to learn everything about insurance. so we know why we need or need not to have any kinds of insurance and what they are for? Thanks

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Old 20th December 2006, 02:01 AM   #13
Allan21
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Home-based business insurance is often overlooked. Many home-based business owners own their own homes, and assume that their home insurance also covers their home-based business activities...

So aware of everything

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Old 28th February 2007, 12:14 PM   #14
Ranz
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They have all better ideas for your business; but at the start you can have your own decision and management, until such time that it is already ready for a conversion to a corporation. Inquire for the suited insurance for your new business. That is very important. Have an agent explain you all the things to be known in a home business insurance for your good.

Have a successful start.

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Old 12th June 2007, 04:49 AM   #15
gaelriad
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Thanks for all the information, Curt. I have a question regarding product liability insurance. I'm thinking of starting an import business and was wondering if I needed liability insurance for products from overseas. I would not sell them as my own brand, but I assume since the manufacturer cannot be sued (as they are overseas) then I could be if something were to go wrong. Am I liable?

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Old 14th June 2007, 08:00 PM   #16
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I am new here. I have read all the posts. But are there any websites or books that I can read to learn everything about insurance.

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Old 9th July 2007, 11:18 PM   #17
Curt415
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Quote:
Originally Posted by gaelriad View Post
Thanks for all the information, Curt. I have a question regarding product liability insurance. I'm thinking of starting an import business and was wondering if I needed liability insurance for products from overseas. I would not sell them as my own brand, but I assume since the manufacturer cannot be sued (as they are overseas) then I could be if something were to go wrong. Am I liable?


This situation is a bit more complex. You should purchase a General Liability policy that includes Products and Completed Operations. Most companies prefer not to insure Import/Exporters that bring in products from overseas because of the differences in laws between countries. You will be acting as the Manufacturer's Rep and i strongly believe coverage is absolutely necessary.

That is not to say there aren't companies available. There are a few companies I know off-hand that have offices in international countries for this very type of business. When dealing in international business, this is very important as each office will be familiar with local laws and therefore handling claims much more effeciently.

You wouldn't hire a divorce lawyer for a murder case. Don't buy insurance from a company that doesn't know your business. If you need some help, email me and I'll give you the names of these companies to help you on your venture. These companies will bring the lawsuit back to the manufacturer and subrogate against them if they are found liable

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Old 9th July 2007, 11:20 PM   #18
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Quote:
Originally Posted by dreammars View Post
I am new here. I have read all the posts. But are there any websites or books that I can read to learn everything about insurance.
To my knowledge, there aren't a lot of books that teach you about insurance. your policy is a book in itself. I wouldn't waste my time reading about it when your agent is paid off commission. Its his job to explain to you what you need and why you need it free of charge.

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Old 24th July 2007, 07:08 AM   #19
bestprice
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It should always be better to talk regarding this topic with an insurance agent.Searching through internet we can also get valuable information on home based insurance.

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Old 3rd October 2007, 02:25 PM   #20
GeorgioFootwear
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I was wondering what kind of insurance is best for my situation. I am starting up an online shoe business. I get my shoes straight from the manufacturer. Lets say someone falls or trips while wearing one of the shoes I sold can they sue me or theyd have to try to sue the manufacturer. The manufacturer is overseas so I don't see how theyd sue them.

A friend told me to incorporate but with my funds right now I can't afford to. Do I have a lot to worry about since I'm product based?

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