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General Liability Insurance

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Hi all,

Ive been an independent contractor for many years, and a somewhat unwilling slave to the gig economy as supplemental income.  Recently I made the move to Thumbtack and sort of unexpectedly started my own business (i think? that sounds so grown up), and the response has been great so far.  The problem is that I never have run my own business (apart from running a blog), and so I dont really know where to start when it comes to my legal status (i think i am a sole proprietor?), and I certainly have no idea what to do about general liability insurance.  I have already done quotes with Progressive and Simply Business (500 and 700 annually, respectively), but I have no basis of comparison.  Is that high?  Where is the best place to look?  Any advice would be greatly appreciated!

BTW my business is in furniture assembly/repair, TV mounting, and general handywork.  Thanks!

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Re: General Liability Insurance

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@wayfairer Hi wayfairer,

First thing I suggest is find out what your state's sole proprietorship requirements are. This could mean LLC registration, licensing, etc. Then look into liability insurance. I recommend The Hartford for that. Good Luck.

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Re: General Liability Insurance

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That sounds like a good price, depending upon the coverage. I am a small business handyman. I believe I've got 1,000,000 per incident, 2 mil aggregate, $500 deductable (might be higher). And I have  ADDITIONAL NAMED INSURED,    I'm covered by Grange, and it's over $1,000/year....so I'm shopping around. 

BUT, that PDF of the COI goes out on EVERY SINGLE TT bid, and customer's have told me "You were the only guy with insurance"  Most of my work is residential.  But I do go into offices to hang pictures, bulletin boards, and the glass white boards, and the business's want the insurance. 

If you want to set yourself apart from the pack as "professional"  having genuine liability insurance is part of the deal. 

I'm in suburban Chicago, and I do a lot of assembly.  Reach some time if you want.    Reese T. 

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Re: General Liability Insurance

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@ReeseTee I hadn't considered sending a pdf of my COI and ServeSafe certification on every bid without being asked. I should have. I will. Thank you. 

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Re: General Liability Insurance

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Re: General Liability Insurance

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That is the relative price range, really depends on everything you want to cover. But having a 1 million $ policy is very affordable in todays market. Thats what you need to do work in the majority of high rises, or commercial businesses also. I wouldnt pay more then 800 for a year policy unless it is very inclusive and extra benefits. Good luck!
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Re: General Liability Insurance

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Just dropped The Hartford and signed up with this provider https://www.biberk.com/