Ask Experts Questions for FREE Help !
Ask
    danimal1's Avatar
    danimal1 Posts: 1, Reputation: 1
    New Member
     
    #1

    Nov 28, 2007, 01:33 PM
    What's the best insurance for my business
    I am starting a flooring business and was wanting to make sure I get the correct insurance
    To cover my business in case of any problems I would run into.

    Also if anybody can explain if I would be better to incorporate or not.
    addiesmom's Avatar
    addiesmom Posts: 2, Reputation: 1
    New Member
     
    #2

    Nov 28, 2007, 03:58 PM
    Quote Originally Posted by danimal1
    I am starting a flooring business and was wanting to make sure i get the correct insurance
    to cover my business in case of any problems i would run into.

    also if anybody can explain if i would be better to incorporate or not.
    You need to talk to an independent insurance agent in your area. They represent multiple insurance carriers and they will be able to provide you with quotes for liability insurance. I do not know anything about incorporation of the co! Sorry
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Nov 28, 2007, 05:41 PM
    Business auto insurance on all autos used in business
    Liability insurance if your workers mess up a job, destroy things in a persons home
    Workers comp if your workers get injured
    Health insurance if you get ill
    Life insurance if you die to pay off business debts

    And more I am sure. Many will cost more for new business since you don't have a history of no claims
    Stringer's Avatar
    Stringer Posts: 3,733, Reputation: 770
    Business Expert
     
    #4

    Nov 28, 2007, 09:43 PM
    It is always good and wise to incorporate your business. If only that you can then protect your personal property if you are sued.

    There are many types of incorporation; C Corp, Sub S, Limited Partnership, etc. It would probably be best to seek the advice of an attorney but it is not necessary. You can investigate in your state which is best for you and you can then proceed on your own at very little cost by doing it yourself. Please seek advice, possibly on line; Use Google (for an example) and simply use: "how do I incorporate" or something like this. Tons of info there.
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
     
    #5

    Nov 30, 2007, 04:18 AM
    Quote Originally Posted by danimal1
    I am starting a flooring business and was wanting to make sure i get the correct insurance
    to cover my business in case of any problems i would run into.

    also if anybody can explain if i would be better to incorporate or not.
    I'm not sure what you mean by "flooring business." Would you please mind explaining what you mean by that? A flooring business could mean that you are selling various types of flooring out of a store front, and maybe having employees who will be installing the various types of flooring. It could also mean that you will just be an installer yourself of various types of flooring, or maybe even just one or two specific types. Knowing exactly what you are describing would be helpful in giving you the best answers to your question.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Getting a divore what's mine and what's not? [ 3 Answers ]

Been married for five yrs two kids one is 4yrs and the other is 1 ,got a house 1 week before we got married and I never got my name on put on the deed.but have been helping with the mortgage the whole time,she makes a lot more money than I do and I also caught her in an affair with her ex...

If I register for a business number in Canada and provide my social Insurance number. [ 1 Answers ]

If I register for a business number in Canada and provide my social Insurance number.. ... will my SIN always be "connected" with my business? In other words, as far as Canada REvenue is concerned are they 2 different entities? I want to apply for Bus # for a sole propriatorship

Small Business Company Insurance [ 1 Answers ]

:confused: How do you get insurance for a new small business company? What service providers do I need to look at? My setting is in Washington, DC. What are the best places for small business insurance?:confused:

Business Libility Insurance [ 3 Answers ]

I'm in the process of starting a Pet Sitting business and wanted to know what kinds of insurance I need to carry. I've heard business Liability insurance is a must. Is that the same as being bonded? In case something breaks in the clients home? Thanks, Rich


View more questions Search