your advise. We have actuallly been in business 3 years but am
reaching out and spreading some wings here...lol
Thanks again,
Sheila
--- In entrepreneursathome@yahoogroups.com, faithfulfamilyoutlet@...
wrote:
>
> Shelia,
>
> Ask the local business people in your area. Tell them you have
just started a business and would like to know who they use or Yellow
Pages, under insurance.
>
> IF you are incorporated - the value of the assets of your company
in total - should be protected minimally. The common amounts being
$2 million but also be prepared that if someone sues you - the
insurance companies trying to cut down on frivolous law suits
normally now cancel your policy to prevent from a quick paying out
settlement. Kind of bizarre but this happened at our church. So we
had to sue the insurance company to pay out what we had legally
purchased. I would not have believed it if you told me but then the
exact same thing happened to my brother-in-law's brother who is a
dentist. As soon as he got notice that he was being sued - he
contacted his insurance company and they canceled his policy. And
again he had to sue the insurance company to get the coverage that he
paid for. The good news in both cases - the plaintiffs lost in court
BUT everyone's rate went up.
>
> IF you are not incorporated - get incorporated or LLC before you
get the insurance. That will protect your personal assets.
>
> I hope this helps, God Bless, Ed R.
>
>
>
>
> -------------- Original message --------------
> From: "whisperedkisses08" <whisperedkisses08@...>
> Just wondering if someone can give me information on product
liability
> insurance. When is it necessary, where do you get it and what
> limits/amounts. This is for a bath product that may be reproduced
in
> the thousands soon. It is required for QVC and other TV marketing
and
> needed some infomation. Thanks in advance.
>
> Sheila
> www.whipered-kisses.com
> www.theartofcreativebeauty.com
> www.hand2heartkardsnkids.com
>
>
>
>
> [Non-text portions of this message have been removed]
>
------------------------------------
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