liability insurance

[Cheech]

What do you do for liability insurance. I am starting to cook for more than just friends and family so I looked into insurnce and was told it will be over $1000 per yer. I do not cook that much but would feel better having insurance.

[Richtee]

Last I had a policy was a couple years ago. $800 as I recall.

[TasunkaWitko]

Are you doing it as a business?

[Cheech]

no but it is starting to head that way

[TasunkaWitko]

As long as you are not getting paid for it, your homeowner's insurance SHOULD have liability coverage. Check with your local agent to be sure.

If you are doing it as a sort of on-the-side kind of thing, your homeowners insurance might have SOME liability coverage. Once again, check with your local agent to be sure.

If you are doing it as any kind of actual business, you will most likely need some sort of BOP, which should have some decent liability coverage for a small-scale operation. Your local agent can help you get set up with it and best advise you as to the level of coverage you should get.

It's pretty easy to see the common theme in the three scenarios above; we can all offer anecdotal advice based on our experiences with the issue, but if you want to KNOW, rather than HOPE that you are covered, you really should talk to your local agent about the specific circumstances. He or she can give you the straight scoop for your situation and for your state etc.

That's what your local agent is there for!

[TasunkaWitko]

Forgot to add this: as to the rate that the insurance will be, there are so many factors that come into play when determining insurance rates, from past history to credit score to the regional circumstances to the extent of the risk and dozens of others. There really is no way to guess, except by talking to...

Your local agent.

[nickelmore]

Ask your homeowners agent about an umbrella policy. Things differ from state to state.

A friend of mine actually gets an umbrella policy from our agent with specific dates. For instance if we are having a party at the house or "hosting" a party at the local picnic grounds he just call the agent and ups his liability to a mil for 3 days.

He says it is the only way to roll.

[Dj26]

liability insurance

As a State Farm agent by day I will second the check with your agent and be very up front what your doing. Every state can be different too. So can't assume it's the same because one guy in... Said it was on the Internet

[TasunkaWitko]

As a State Farm agent by day I will second the check with your agent and be very up front what your doing. Every state can be different too. So can't assume it's the same because one guy in... Said it was on the Internet

Exactly!

Good call on the umbrella as well, Nick!

[Ryan]

So if a guy gets insurance to sell food, does the insurance company ask for a food license from the state? I'm just curious on this.

[PitRow]

Ask your homeowners agent about an umbrella policy. Things differ from state to state.

A friend of mine actually gets an umbrella policy from our agent with specific dates. For instance if we are having a party at the house or "hosting" a party at the local picnic grounds he just call the agent and ups his liability to a mil for 3 days.

He says it is the only way to roll.

If the umbrella company actually covers this type of liability it might be the way to go. I know for my wedding, which was at my parents' house, we bought an umbrella rider for the two days leading up to the wedding until two days after for $3 million and it was ridiculously cheap. Like $65 or something. We did not serve alcohol though, and that would have increased the cost.

[Bearcarver]

LOL----A little cheaper than the Tower Business. Bear Jr pays about $50,000 annually.


Bear

[eDJ]

Re:

There is an organization of Retired Business Professionals with an extensive network throughout the USA. It's called SCORE. They
do a lot of helping with small business start-up's.

There is a chapter in Grand Rapids, Mi.

https://grandrapids.score.org/

I'm sure they have people who are in the restaurant & catering business
and insurance professionals who could counsel you. And it's all FREE.

There will likely be Legal Professionals available as well. They may talk to you about LLC (Limited Liability Corporation) as opposed to Umbrella Insurance to see if it would be a solution for your needs as well.

I would start with SCORE first.

There is also the U.S. Small Business Administration

https://www.sba.gov/

Mission


The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

[Richtee]

Huh..Thanks EDj. Never heard of that "Score" thing... cool!

[eDJ]

Re:

Yep, they would probably be a lot of help to you Rich.

In my home town the SCORE office is right next to the MCTC Culinary School. (Mountwest Community Tech College...formerly Marshall University Community College) The student Chef's are introduced to them early to mentor them face to face. (free) Determine what they could be best at if they try to start their own business/restaurant or catering service.

http://score-michigan.com/

https://detroit.score.org/node/972909

Give em a yell !