I currently don't have business insurance but I am getting quotes.
My business is primarily publishing websites and selling advertising, I also buy and sell domain names and occasionally will do some SEO consulting or throw up a quick website for small businesses. I also run a few blogs. My biggest concern is that I would give someone some advice or cause their site to go down and that they would then sue me. There is also the possibility that I piss someone off in my blog and they sue me for slander or something, so I have asked for a media rider just in case.
The first quote I got for $1,000,000 in coverage (which is probably more than I need) was for $10,000 – I couldn’t believe it. I think one of the biggest troubles is that people don’t know how to categorize me and they keep putting me into the web hosting category which is pricey. They can’t seem to find a generic internet publishing or even consulting category.
My biggest assets are probably my domain names, and I’d hate to lose those. I have an LLC, and maybe I just need to get air tight contracts each time I do any work for anyone that limits my liability.
My questions for everyone are
a)Do you have business insurance – why / why not
c)How much do you pay (if you don’t mind answering…)
Thanks in advance.