3arrows Report post Posted May 8, 2008 I was approached this week by my insurance company to acquire liability insurance for my saddle business. WE sell used saddles and I do basic repairs like new stirrup leathers, reset rigging, new sheepskin, some restoration work ,etc. I intend to start building new saddles as soon as I can get my buddy from Bona Allen to teach me the basics. So, does any other saddle repair shops carry insurance to protect against defective products and repairs? Im adamant about my repairs being top quality, or I wont do them. I dont by nature and personality do anything haflway but am now worried about this potential issue. I just signed up for $1 mill. in liability, cost $620 per year and also am converting my business into a LLC to protect my personal assets. Any thoughts about this? Any suggestions as to how to protect myself, like waivers, etc. thanks ron.. Quote Share this post Link to post Share on other sites
dbarleather Report post Posted May 8, 2008 I also have my business filed as an LLC. You can never be too safe these days. Quote Share this post Link to post Share on other sites
David Genadek Report post Posted May 8, 2008 I would suggest you go to a lawyer with your balance sheet and ask him just what your exposure is in your situation. If you have a million dollars worthe of assets to protect then the insurance is worthe it. If not then your wasting your money. Insurance guys like you to do that. Here is a link to a few good books on the subject. In the past I've been on the lecture circut with the auther and I can tell you her favorite saying is "It Depends". Thats why you need to see a lawyer with your balance sheet before you talk to the insurance guy. David Genadek Quote Share this post Link to post Share on other sites
TwinOaks Report post Posted May 9, 2008 Going LLC is a good idea in my opinion. The amount will vary. In Alabama, and I'm sure other states, there is an 'Equine activity law'. It holds liability soley on the participants and protects owners, trainers, farriers, etc. of horses. It also protects property owners where activities are persued, whether it be a show, or a school. I'd think that this type of law applies to horse tack as well (but I'm an electrician, not a lawyer), and would afford you some protections. Quote Share this post Link to post Share on other sites
greg gomersall Report post Posted May 9, 2008 I cured that problem for the most part by not offering a repair service. If I didn't make I don't fix it. Greg Quote Share this post Link to post Share on other sites
