How to insure my small business?
July 23, 2010 8:18 AM   Subscribe

I'm starting a business out of my rented house. What kind of insurance do I need? I'm in Nova Scotia.

I'm moving into a rented house August 1st, I'll need to get renter's insurance anyway, but I'm also starting a home based business.

I'll be doing clothing alterations and custom design. I have some equipment and furniture (less than $2000) and customers will be coming on the premises. I won't have any employees and this will be my sole source of income.

I've never bought insurance before, what do I need to know?

Types I'm curious about: Fidelity, surety and crime; business property; general liability (from the NS Dept of Finance website)
posted by Carlotta Bananas to Work & Money (1 answer total) 1 user marked this as a favorite
 
The only answer I know is to clearly and fully discuss your plans with the agent who supplies you with renter's insurance. Follow his/her lead. If you still have doubt consult another insurance agent. A good agent has an interest in selling you the appropriate insurance. The agent has an incentive to sell you insurance yet does not want to get red flagged, or under bid, for selling excessive insurance. This is a highly competitive business. I seriously doubt if this will be very costly and should be relatively easy to resolve.
posted by rmhsinc at 12:49 PM on July 23, 2010


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