Insurance as a necessity?

[pinkbeats]

Is liability insurance neccesary?   Does everyone here have it?  Has any one here ever got into any leagl trouble to where it came in handy?  I am extremely curious!!

[deldal]

I don't have it and have begun wondering if I should.  I'm also curious as to what other people do about it.  I don't need it for the locator side of my business but I also run a vending route for bulk candy, soda and snacks and it's for that side of my business that I wonder if I'm taking unnecessary risks.  My business is not incorporated so my personal assets (being such as they are) would be at risk if someone should decide to sue me.  With the economy sliding down hill, I'm guessing that more and more people would be inclined to sue for whatever reason.  I've just never heard of any lawsuits against vendors

[22931805]

I've never heard of a vendor-related lawsuit either. Not one.  Anyone else???

[Jax Snacks]

The first thing I bought before placing my first machine was a liability insurance policy.  Now I have never heard of a vending law suit - they are probably rare.  But in this big country with many "professional law suit leaches", there had to be some vending suits filed somewhere.  Yea, your personal assets could be at risk if someone tried to sue you.  I know that I sleep better at night having the insurance.

Jax

[antoniocinisi]

in most cases it is 300$$ or so,well worth it in case anything goes wrong.

[pinkbeats]

THANKS GUYS FOR THE ADVICE!!!!! THATS WHY I LOVE YOU ALL!!!!

[T BIRD]

I am looking into a liability policy for T Bird Vending  LLC now also.

[MountainMan]

My wife's concession liability policy is like 325 a year through State Farm and I am going to see if we can get a rider  for the bulk machines. should be able to, especially if suits are rare.

[T BIRD]

I just received a quote for $750. Company's name is US Liability.  That seems too high right?  Not sure if being in New York has anything to do with the higher price.

[antoniocinisi]

I just received a quote for $750. Company's name is US Liability.  That seems too high right?  Not sure if being in New York has anything to do with the higher price.

I dont think it should be more then double what most pay  just because you live in New Y ork

[grumpy]

T-Bird is it only liability insurance or business insurance? My original quote was for $1,000.00, but I got it at $600.00 as a rider on my current other business insurance. Mine is not just liability but a full blown business insurance. (Fire, theft, business loss ..) It was explained to me as almost all business insurance starts at $1,000.00 to be written up, go figure.

[T BIRD]

I hear ya Antonio.  I agree with you.

Grumpy.......I need to ask the guy on Monday when I speak with him.  I just heard the price and did not ask any questions.  I just told him that vendors on here were getting liability insurance for $500 and under.

[candygirl]

T-Bird--

I went here: http://www.hubinternational.com/, typed in my zip code, and was directed to local insurance agent. He got me $2,000,000 liabilty and medical expenses with a general aggregate imit of $4,000,000 for $350/yr., and I'm in California.

This is through The Hartford. A previous agent from out of state had given me a completely different quote, more expensive, less coverage, and very restrictive conditions.

You might want to try HubInternational.

Hope this helps.

Barb

[T BIRD]

I will check it out.  Thanks Barb.