Hi everyone.
We are starting the first of what we hope to be many businesses in the US!
This is also our first physical location that we are opening, and not just online consulting and product shipment.
We do a lot of construction and related products ( this might be important )
What I am wondering is what type of insurance to get? What have you actually used this year, and is there any "good-to-know" areas where you caught something?
Thank you for any advice!
Posted by Own-Syllabub476
1 Comment
The only piece of advice you should follow is to get a seasoned commercial insurance broker who can answer this question based on your specific needs. Your specific needs are highly dependent on the structure of your business, your financials, your industry, your location(s), whether you provide specialized/expert services, the goods you manufacture, distribute or sell, whether you have employees or contractors or both, whether you own or use vehicles, etc. Simply way too many factors to DIY. You could be looking at needing commercial general liability, auto liability, professional liability, product liability, directors & officers coverage, workers comp, and even other types of policies. Some of those coverages may be part of one policy or program, others are necessarily separate. And lots of those coverages can be highly state dependant. Get yourself an experienced commercial broker ASAP and share both you immediate plans and your goals with them so that they can properly assess your current and future risks and legal requirements and design a program that addresses them now and scales in the future. You won’t get the info you need on reddit. Good luck.