Insurance Needs
Printed From: Carpet Cleaning Forum
Category: Carpet Cleaners Discussion
Forum Name: Carpet Cleaners Hangout
Forum Description: General discussion on anything related to carpet cleaning
URL: https://www.kleenkuip.com/forum/forum_posts.asp?TID=2223
Printed Date: 26/February/2025 at 8:03am
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Topic: Insurance Needs
Posted By: Samson
Subject: Insurance Needs
Date Posted: 20/December/2005 at 10:01pm
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For those of you who are a one man operation and carry business insurance - just wondering how much liability insurance you think is sufficient? ($300,000, $500,000, 1mil) |
Replies:
Posted By: doug
Date Posted: 20/December/2005 at 10:10pm
Minimun of 1 mill. I carry 5 mil. ------------- Just My opinion |
Posted By: cmaster
Date Posted: 20/December/2005 at 10:58pm
5 mil here
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Posted By: Steaminpile
Date Posted: 20/December/2005 at 11:45pm
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2 mil should be your minimum ------------- A.K.A. Andy |
Posted By: LilNiteRidrhood
Date Posted: 21/December/2005 at 2:03pm
| 2 million is considered the minimum by most people looking for insurance coverage. |
Posted By: Ed Valentine
Date Posted: 21/December/2005 at 2:21pm
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I think the first item that one should consider is: a. Are you just starting out? b. Or, do you have some time in this business? Big difference here in terms of "how much" insurance protection to have. Now, this goes without saying that if your budget is unlimited (most are not), then the sky's the limit. How could anyone go wrong on that judgement?! However, "What is your exposure thus far"? No jobs, no exposure. First job, very little exposure, and so on...... Personally, I would "start" at $500,000 and as you build your business, re-look at your position of exposure AND accumulated wealth.
Good Fortune to all; Ed Valentine http://www.cross-american.com - www.cross-american.com |
Posted By: jtuseo
Date Posted: 21/December/2005 at 6:48pm
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Just starting out get covered for 100,000.
Keep it gully though when you look for insurense. ------------- WWW.PREFERREDCARPETCLEANING.COM |
Posted By: Steaminpile
Date Posted: 21/December/2005 at 9:29pm
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shouldn't a newbie have MORE insurance??
he's more likely to use it isn't he??
if you want any commercial work I'd go 2 million personally
it's really not very expensive.....mine is less than $100 a month
but it was tough to get at first ------------- A.K.A. Andy |
????
Posted By: Samson
Date Posted: 21/December/2005 at 11:48pm
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Thanks everyone, that helps. By the way, can somebody explain the meaning of "Gully". Not up on that term/slang(is it Canadian?) |
