[squidney]

I am attempting to get a start-up business off the ground. I would like to participate in an upcoming event, the early part of next year. In order to be able to be a participant in this event, I need to provide a $1,000,000.00 "proof of insurance" coverage.

Like most people today, money is tight. I have already contacted my own (homeowners) insurance carrier. They quoted me an additional $17.00 a month to be added to my existing policy. Where $17.00 is not a lot of money, the cost to participate in this event is. Not to mention, the added expense of getting ready for the event.

I have all the faith in my ability to make this business a success, nonetheless, money is tight. Long story short, is their a temporary, short-term (1 month) insurance policy out there?

I eventually will get the proper coverage, but for now, I just need the coverage for this upcoming event.

I hope that someone has some answers that I desperately need.

Thanks,
Squidney

[nikosmom]

I don't know of companies that will go through the underwriting process for one month's coverage. The process of underwriting a business policy can be pretty involved and there is a lot of info that has to be gathered by the agents. You can set up a policy and cancel it but the company may "short-rate". This means that they will essentially charge you for their expenses and time.

You say money is tight as you start up your business so I have a question: what will you do if something happens while you're uninsured? I'm guessing that you don't have the assets to cover a loss. In all seriousness, $17 is a small price to pay for peace of mind. Think about it: that's a pizza.