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Old 9th August 2006, 03:48 PM   #1
python2
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Question A Question About Business Liability Insurance

Hi everyone,
I have a full time job and I'm starting a part time locksmith business. I'll be specializing in home and auto lockouts. It will be a sole proprietor. I'm going to be bonded and was wondering if anyone thinks that I should be insured to cover liability. Customers will have to sign a waiver before I perform any work and there will be no overhead so I won't have to worry about vendors if I get into any financial trouble. Any help will be greatly appreciated.

Thanks,
Tim

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Old 12th August 2006, 05:19 PM   #2
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Thanks for all the suggestions. They really helped alot. Now I know exactly what I need to do.

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Old 30th January 2007, 02:11 PM   #3
wur89
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Why not maybe call around to a few other locksmiths or other similar business people and see what type of arrangement that they have or could recommend insurance wise? I would say to be on the safe side, yes but you should check first.

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Old 28th February 2007, 02:45 PM   #4
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Then it should be. You should also be insured in your part time job. For you to have also a security and safety in your everyday work. Insurance is the best way for future life.

Check then as early as possible any insurance you can avail of.

Till then.

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Old 30th May 2007, 01:10 AM   #5
Curt415
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Default Liability Insurance

I would suggest purchasing General Liability insurance ontop of your bonding.

General Liabilty offers defense for Property Damage and Bodily Injury.

I'll use the typical example of what can happen. Imagine working onsite at one of your client's homes. Your tools are all over the place and the client's child runs by your workspace. The child trips over your toolbox and breaks his arm.

This is worst case scenario but in my experience; I've seen a lot of worst case scenarios.

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Old 21st June 2012, 12:08 PM   #6
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This type of insurance protects you in case injuries occur to other people resulting from your operations or damage occurs to the property of others.

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Old 15th January 2013, 04:54 PM   #7
PacificReserve
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Quote:
Originally Posted by python2 View Post
Thanks for all the suggestions. They really helped alot. Now I know exactly what I need to do.
Can you post what you did so any future locksmiths can use this as a resource?

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Old 2nd September 2013, 12:15 PM   #8
INSPROF
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Quote:
Originally Posted by Curt415 View Post
I would suggest purchasing General Liability insurance ontop of your bonding.

General Liabilty offers defense for Property Damage and Bodily Injury.

I'll use the typical example of what can happen. Imagine working onsite at one of your client's homes. Your tools are all over the place and the client's child runs by your workspace. The child trips over your toolbox and breaks his arm.

This is worst case scenario but in my experience; I've seen a lot of worst case scenarios.
General Liability is essential and a low cost way to protect yourself and your business.

Bill Arowood

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Old 26th September 2013, 05:28 AM   #9
Karry
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I like this topic. It was good to see you got helped from forum members & it worked for you. Thanks for appropriates all

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Always take travel cover plan, and travel safely.
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Old 10th October 2013, 10:35 AM   #10
titanlists
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Absolutely!!! It is best to cover yourself in almost any kind of business, but when you are dealing with the general public you need to have coverage, there are some wacky people out there and considering how sue happy people are in the US, it is best you cover yourself.

Great question!!

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