I'm looking for liability insurance.?
I recently started two new companies. One is a tailoring service, another is unprocessed skin care line. I enjoy trouble finding insurance that would cover needs of both companies. I found one agency that agreed to sell me insurance just for tailoring business.
I would really appreciate any advice.
Thanks!
Are both of these companies lower than two different legal entities? If so then they call for separate policies, as you cannot insure two separate entities conducting two different types of businesses under the same policy. Even if they are not, the two types of businesses are on the in front of ends of the risk spectrum for an insurer. A tailor's product is pretty benign when it comes to potential bodily injury or property damage. I suppose someone could have an allergic sensitivity to the fabric, however this would be pretty remote and would be limited to one entity. Any product which is meant to be applied to or ingested by the human body has the potential to enjoy huge claims potential. A bad batch of the product that cause injury can affect dozens before anyone notices the correlation between the ailment and the product. So while the tailoring business can be placed on a simple package policy, the skin care file would not qualify for most insurers package policies. A good agent should be capable of find coverage for both businesses, however the chances of them being both insured below the same policy is zero. You will enjoy to have separate policies for each business.
It would be helpfull to know what coverages you are looking for and what reasons are given for not underwrite what you want.
Frankly, I can't see why either of these would be of especially high risk. Unless you are carrying passenger, what is the problem? Typically, auto policies do not cover things like the items being tailored that you might be carrying nor skin exactness inventory. Those would be covered by another policy.
Don't know what in your case but if I pack stuff for a time off in the car and it get stolen, my homeowners covers the stuff i packed not the auto policy.
Maybe you need a different or better agent.
"> Lloyds of London? They insure everything.
rationale why you are having trouble finding a market for the skin vigilance line is because of the product liability exposure.
Is your product selfmade? Are you just a distributor? Are you a businesswoman? Try surplus line brokers. They work with a bunch of different admit carriers who write a broad line of business.
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I would really appreciate any advice.
Thanks!
Are both of these companies lower than two different legal entities? If so then they call for separate policies, as you cannot insure two separate entities conducting two different types of businesses under the same policy. Even if they are not, the two types of businesses are on the in front of ends of the risk spectrum for an insurer. A tailor's product is pretty benign when it comes to potential bodily injury or property damage. I suppose someone could have an allergic sensitivity to the fabric, however this would be pretty remote and would be limited to one entity. Any product which is meant to be applied to or ingested by the human body has the potential to enjoy huge claims potential. A bad batch of the product that cause injury can affect dozens before anyone notices the correlation between the ailment and the product. So while the tailoring business can be placed on a simple package policy, the skin care file would not qualify for most insurers package policies. A good agent should be capable of find coverage for both businesses, however the chances of them being both insured below the same policy is zero. You will enjoy to have separate policies for each business.
It would be helpfull to know what coverages you are looking for and what reasons are given for not underwrite what you want.
Frankly, I can't see why either of these would be of especially high risk. Unless you are carrying passenger, what is the problem? Typically, auto policies do not cover things like the items being tailored that you might be carrying nor skin exactness inventory. Those would be covered by another policy.
Don't know what in your case but if I pack stuff for a time off in the car and it get stolen, my homeowners covers the stuff i packed not the auto policy.
Maybe you need a different or better agent.
"> Lloyds of London? They insure everything.
rationale why you are having trouble finding a market for the skin vigilance line is because of the product liability exposure.
Is your product selfmade? Are you just a distributor? Are you a businesswoman? Try surplus line brokers. They work with a bunch of different admit carriers who write a broad line of business.
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