What type of insurance do I need for my small business?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What type of insurance do I need for my small business?
I am trying to start a small local business from my home. I will be making custom golf clubs for local children ages 3-10. What type of insurance will I need for my business?
Asked on March 7, 2017 under Business Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
1) Most important: liabilty insurance. This protects you if anyone is injured by your products (or by you in the course of work--e.g. if while demo'ing a club for someone, you accidently hit them in the head).
2) Since you are manufacturing what I assume (as a non-golfer) are expensive items, and presumably using potentially valuable equipment to do so, you want to get insurance covering your inventory and equipment.
3) If this will be a major part of your income (instead of a sideline), you probably want "business interruption" insurance to protect you in case something beyond your control disrupts your operations--this insurance will pay some amount or portion of the profits you'd have otherwise made.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.