Liability Insurance

I would recommend an insurance broker to find the best policy for you. Also, may wanna try this link http://www.painttalk.com/showthread.php?p=3461&highlight=Liability+Insurance#post3461

I used the same insurance Co. that i insured my home, autos...
IMO, the best place for you to start is with your Agent.
Good luck.

On a similar note, does everyone have disability insurance in case you get hurt on the job? I'm talking about the kind that kicks in the second you get hurt.

I started with my home/auto agent. She couldn't help me, but got me in contact with somebody who could.

Yes, I've got disability insurance. I'm now looking for something to keep money coming in if I'm not working for other reasons, like illness, vacation, taking care of dear old mom, etc.

Does anyone have cash flow insurance? Like if you are slow and have no cash flow, you can make a claim and it will cover your normal cash flow for you? :whistling2:

vermontpainter said:

Does anyone have cash flow insurance? Like if you are slow and have no cash flow, you can make a claim and it will cover your normal cash flow for you? :whistling2:

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Oooh, sign me up!!! I wonder what the deductible is on that....:whistling2:

I'm surprised Tim missed this one.

ProWallGuy said:

I'm surprised Tim missed this one.

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Yah really, Pro...I think we need to have a chat with him about fulfilling his responsibilities around here.

ProWallGuy said:

I'm surprised Tim missed this one.

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Man, sorry guys, was distracted when this thread started. Won't happen again.

Disability Insurance is a must! At the very least long-term disability. The payments for most plans kick in after after 90 days or 6 months of being disabled(unable to perform the daily functions of you job). Now, for those of you who are working full-time right now and are thinking about starting your own business, get disability insurance BEFORE you quit! Once you start your own business, you won't have a salary history and that will GREATLY affect your benefit amount. They usually go back 3 years, so good luck getting any decent benefit amount for another 3 years in the event of a disability.

Cash flow insurance---I am very familiar with insurance, elaborate a little more on that type of policy. Are you talking permanent or whole insurance?

Actually, it was just a joke. I am sure that any insurance company that would cover me in the case of lack of cash flow would require a premium that exceeds the actual cash flow!

vermontpainter said:

Actually, it was just a joke. I am sure that any insurance company that would cover me in the case of lack of cash flow would require a premium that exceeds the actual cash flow!

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I have cash flow insurance, my credit. Specifically, I have an "Advanta Mastercard," which gives me 5% cash back on any equipment, sundry, supply, type purchases. Like a lot of credit cards, it also comes with checks I can cash at anytime. With most cards if you cash these checks, it's called a cash advance and subject to higher interest rates. These checks go at the same rates as purchases on the card. I don't know the rate off hand but it's reasonable.

GM

Good point...the credit line type option is a good safety net.

vermontpainter said:

Yah really, Pro...I think we need to have a chat with him about fulfilling his responsibilities around here.

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LOL, .............:laughing:

KCT said:

On a similar note, does everyone have disability insurance in case you get hurt on the job? I'm talking about the kind that kicks in the second you get hurt.

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Huh... I'm gunna have to look into this.. Sounds like we could have used this when my partner fell off a latter last year and received a minor concussion having hit his head on a big rock during the fall.... He's got a $14,000 hospital bill now...

Is this disability insurance something the business purchases or is it individual?

J

[email protected] said:

Huh... I'm gunna have to look into this.. Sounds like we could have used this when my partner fell off a latter last year and received a minor concussion having hit his head on a big rock during the fall.... He's got a $14,000 hospital bill now...

Is this disability insurance something the business purchases or is it individual?

J

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That wouldn't fall under Disability Insurance unless he was out of work for a long time. That would be under Worker's Comp. or Health Insurance.

Referring to the post of "money that is paid the second you have an injury," that would be Short-term disability. While it would be nice to have, it is generally very expensive. I would make sure you have a long-term disability policy in place at least. You can recover from being off of work for a few months, but you can't if you were out of work for a lifetime.

Deco said:

Looking to get a general liability policy for either 1 or 2 mil. Also want to look at workmans comp. We do mainly residential interior re-paints. Can anyone recommend an insurance carrier and what would a good premium be for that kind of coverage. We are in NJ.

Thanks

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How are you working right now with out these Insurances? You need a licsense in NJ and to get it you need to be Insured.

Does anyone have a form I can use to waive the HO's responsibility for any injury on the job to me, as well as (myself) assuming responsibility for any damages I may do? I'm just starting out, not too much startup funds, and don't want to fork out yet for WCB or liablility insurance. When things get busier I'm all over that, and willing to take that risk for now.