insurance

[jcrafferty]

Just wondered what type of insurance you guys that sell bows carry if any and where can I find some? Thanks John

[Eric Krewson]

Most carry none and and hope for the best.

[wildcat hunter]

I put a sticker on that says " for display only"

[Big-un08]

Here is a post started by Marty that might be helpful.
 http://tradgang.com/cgi-bin/ultimatebb.cgi?ubb=get_topic;f=1;t=060858

[Mike Mecredy]

I got insurance through the Craft Agency I pay about $900 a year.  

-Mike

[monterey]

I think the insurance thing is really a problem.  Building and selling just a few bows puts you at risk but paying up the $900 or so forces you to make more than just a few.

Mostly I give them away!

[jcrafferty]

Thanks guys, another way of adding cost to a product that always kills the small guy! Thanks again for the info. John

[Mike Mecredy]

Well, I make more than just a few.  So $900 a year isn't bad.

[sulphur]

some advise forming an LLC that way if you get sued they get all your bow stuff and not your personal stuff.  I was planning on both.  some small bus. insurance was quoted to me for about $500 a year and its about as much for the LLC.

[monterey]

Mike, it makes perfect sense for you.  For me it would push me into making more bows than I'd enjoy making.

As a general warning to all concerned with this issue, I speak from 10 years experience in the insurance industry;  Be sure of what the coverage you apply for actually covers.  For example, you can get a bussiness owners policy that will cover your equipment and tools, etc along with liability.  The liability coverage with that type of policy is strictly a slip and fall kind of thing for the public when they are on your premises.

You need a liability policy that specifically covers you for product liability and specifically for the product you make and sell.  Make sure your application for the policy clearly states, on your part, what your activities and product is!!!

[Shakes.602]

Insurance Rules the World!! Cant Live With the Premiums, but You better have it for Your  OWN  Safety!!  Liability, have a Sign Off Sheet!!
"Hey Ya Pays Yer Money...Ya Takes yer Chances!!"      

[ishoot4thrills]

Then you have a very small number of people who will sue you only when they find out that you have insurance. Lots of times, if you don't have insurance and you're medium to low income, they won't sue you after they find that out. I guess they figure "what's the use?"!

This info I got from a man who had a business making very fine bows and sold very many bows a year.

[Shakes.602]

Cant Squeeze Blood Out of an Osage Bow!!

[Mike Mecredy]

My Insurance specifially covers, injury from failures of my products etc, I never (Veeeeeeery seldom) have customers in my shop so my policy doesn't cover much for on-site mishaps.  I don't cover anything on my tools /  shop just for thuings that can happen to the customers.  I can fix my tools and build a new shop it's those customers that sue when they get a fiberglass splinter I can't fix.

 Also Maddog is an LLC.