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Lliability

Posted: Sat Dec 19, 2009 4:21 pm
by Cody
All,
I have had success building skis over the last 6 years and have had numerous people ask me to build them custom skis....I am thinking it would only amount to roughly 20 - 50 pairs per year to start...maybe it would grow from there. I build about 10 pairs a year now for my friends and my own quiver.
I have been hesitant to build and sell because of liability. From what I understand, even with an LLC and a really good release, I am still very exposed. The answer should be good liability insurance. Unfortunatly I have had it quoted from 3 sources and it is around $10-$12K per year which isn't feasable for the volume I get requests for. Has anyone had any luck with lower insurance rates or some other way to get around this problem? Any suggestions would be greatly appreciated.

Thanks,

Cody

Posted: Sat Dec 19, 2009 9:25 pm
by Head Monkey
That’s the going rate for liability insurance for this kind of thing. You won’t find it lower, to my knowledge. Check out S-Corporations vs. LLC’s as well. Consult an attorney. I’m not going to tell you what I do because I wouldn’t want anyone to construe it as any kind of real advice in this matter from me, sorry.