Bazz
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Total Posts:
2
- Joined: 1/11/2011
- Location: Ocala, FL
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Liability insurance or LLC
Wed, 04/13/11 10:19 PM
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hello all you hard workers out there, and yes, I have learned that a hot dog business is alot of work.
Wondering if it is better to go with liabilty insurance or a limited liability corp. or would you recommend both.
Has anybody ever gotten sued????
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stubby77
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Total Posts:
483
- Joined: 1/8/2010
- Location: Shelburne Falls, Massachusetts
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Re:Liability insurance or LLC
Thu, 04/14/11 6:21 AM
( permalink)
Pretty much any location you want to set up in is going to require a liability insurance policy to let you set up there.
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MellowRoast
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Total Posts:
1665
- Joined: 8/21/2007
- Location: 'Nooga
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Re:Liability insurance or LLC
Thu, 04/14/11 9:06 AM
( permalink)
LLC or not, these days you need "general liability" insurance even if you're only going to breath in public.
<message edited by MellowRoast on Thu, 04/14/11 9:09 AM>
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Chicnscoop
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Re:Liability insurance or LLC
Thu, 04/14/11 3:57 PM
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Being an LLC will limit access to your personal assets. Liability insurance is required of most businesses to be licensed - local laws may be different.
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BackAlleyBurger
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Total Posts:
1077
- Joined: 1/30/2011
- Location: FAYETTEVILLE, NC
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Re:Liability insurance or LLC
Thu, 04/14/11 6:57 PM
( permalink)
yea, basically all an LLC does is limit access to your other assets outside of the LLC, you will still need (i recommend 1 million)general liability insurance, i have heard others mention special policies just for food poisoning, might want to get detail on that from your liability agent, he will know what code fits you best
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