[sonnyrizo]

I've been contemplating as to whether insurance of any kind is really needed. I can see why a public company would need to have insurance, but do I need insurance as well?

I was thinking of creating an online store, and of course, that would involve no one but me. Customers would not be coming over to my place, and there's no way anyone could claim I caused injury to them. As for financial loss, how? How can I lose money when I am running a website?

At some point, I am planning to start a small business consultation firm (yeah, with no experience), and that's when I'll buy O&E insurance. Of course, I'll need the basics of insurance in addition to O&E as well.

Anyone disagree?

[mxer210]

I got general liability insurance. Lawsuites can always happen with anybusiness, especially the US....

It costs me $350/year for $2,000,000 liability. I would say it's definately worthit and I can sleep better at night knowing I have lawsuite protection.

[GSchubert751]

where do you get that rate on liability?

[Matt8355]

You do want insurance! People will sue for any reason now-a-days and win. There are people out there that look for ways to sue a company. I don't think a small online site would pay a high bill.

mxer210, thats sounds like you got a good deal! You might not ever use that insurance in your type of business but it is worth it.