We're starting a small business that will provide services locally. How do I determine what type of and how much Liability Insurance I need?
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Talk to other similar (successful) businesses in your area and find out how much they carry. Talk to your attorney and ask what they recommend. Check with your local county/city/state and find out what is required as a minimum. Between those three you should be able to home in on a good estimate. |
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If you're talking GL, most are 1m/2m (occurrence, aggregate). If you're leasing office space, they'll likely have their own requirements. I just went through this exercise and had a really good experience with http://techinsurance.com. |
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When shopping for insurance, you need to look at different companies and see what they have to offer. Like any product, it's not only the price that counts but also the quality. When I needed commercial insurance for my business I just ended up calling a bunch of different companies and chose the one that suited me best in terms of what they had to offer me in regards to the price, the value, the plan etc. It's always very important to look at the policy carefully and make sure it's the right one for you. |
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