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Author Topic: LLC, liability insurance ??  (Read 470 times)

Offline Orlando

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LLC, liability insurance ??
« on: April 18, 2013, 03:30:53 PM »
Hello,

I have some.opportunities to sell honey and lip balms at local stores. Should I create an LLC and get product liability insurance? Any thoughts/experiences?

Thanks

Offline 10framer

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Re: LLC, liability insurance ??
« Reply #1 on: April 18, 2013, 04:02:20 PM »
I'm setting up a farm policy right now.  I'm not sure how you handle liability where retail sales are concerned.
If you don't have employees the llc may not be worth while.  They don't offer as much protection as people think.  I suspect a good liability policy is the better investment but I'd advise you talk to an attorney you trust to get the best answer.
I'd like to know what you end up doing.

rob

Offline hjon71

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Re: LLC, liability insurance ??
« Reply #2 on: April 18, 2013, 08:57:32 PM »
In today's litigation happy society, your best bet is to do it.
While the probability of anyone getting sick or injured from your product is practically ZERO, if that one case should occur you would be happy to have insurance.

I say this although I believe insurance to be a huge racket...grrrr
Quite difficult matters can be explained even to a slow-witted man, if only he has not already adopted a wrong opinion about them; but the simplest things cannot be made clear even to a very intelligent man if he is firmly persuaded that he already knows, and knows indubitably, the truth of the matter under consideration. -Leo Tolstoy

Offline 10framer

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Re: LLC, liability insurance ??
« Reply #3 on: April 18, 2013, 09:18:03 PM »
In today's litigation happy society, your best bet is to do it.
While the probability of anyone getting sick or injured from your product is practically ZERO, if that one case should occur you would be happy to have insurance.

I say this although I believe insurance to be a huge racket...grrrr

protection money.  but better than the legal costs of a frivolous lawsuit.

 

anything