liability ins. for knife makers?

S

sparky-01

Joined
Jun 15, 2004
Messages
15
i am relatively new to the knife makeing world allthough all the retailers i have taken my knives too would love to carrie them. My delema,one of the retailers wants proof of liability insurance. my ins agent said it would be at least 750.00$ a year. WHAT THE *~#* IS UP WITH THAT .anyone have any insites on knife makeing liability insurance ? :confused:
 
$750 a year is probably quite reasonable for liability insurance.

With juries routinely making multi-million-dollar awards in personal injury cases these days, liability insurance has gotten very expensive.
 
Welcome to Bladeforums! I'll move this thread to the Shop Talk forum for you. That's where the knifemakers hang out.
 
sparky-01 said:
i am relatively new to the knife makeing world allthough all the retailers i have taken my knives too would love to carrie them. My delema,one of the retailers wants proof of liability insurance. my ins agent said it would be at least 750.00$ a year. WHAT THE *~#* IS UP WITH THAT .anyone have any insites on knife makeing liability insurance ? :confused:
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welcome to the real world ;) that's about right for cost
some places have big deductibles and would rather you pay, if someone
cuts themselves on your knife in their store.
 
As Dan said....Welcome to the real world.
We've had parts of this discussion many times before concerning the business of knife making.

One issue that is always a hot topic is the type of business you set up. This is one area that a properly incorporated business is light years ahead.

I understand the disadvantages a corporation has but they have been discussed before so lets just talk liability and insurance.

The short version is:

A. In most states, it is easier to get liability insurance at a reasonable cost if you are incorporated. Insurance people want the business, large or small. I have the pests call constantly!

B. If the worst happens, you still have the option of walking away from the Corporation with your skin intact. Unfortunately, it is something that needs to be considered before going into business.

We live in a very litigious society. It is a concern.
 
Sparky,
I could not get insurance for my shop without getting product liability insurance also. I pay more than $2,500.00/year for insurance for my shop and liability. I personally think it is a bunch of crap, but I don't get paid to think. I figure a knife is supposed to cut. If you get cut with my knife I don't think it should be my fault, unless I am holding the knife. :mad:

Tom
 
Tom Krein said:
Sparky,
If you get cut with my knife I don't think it should be my fault, unless I am holding the knife. :mad:
Tom
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:D I agree 100%, but tell the lawyers that :(
 
Get another knife dealer!

Liability insurance for knifemakers = if anyone sues, declare bankruptcy.

A lack of workshop liability insurance is the reason why I no longer allow visitors in my workshop.
 
never give out your name, addy or phone number and that will cut down on that sort of thing :confused: :D
 
HEy guys, it could be worse, at least none of you are in healthcare! I was chatting with the MD next door and he said he has to be really careful about the patients he accepts because, let's say someone is a diabetic, if they come to see him then leave and neglect to get tested and maintain their condition he is liable. So, he can get sued for the patient's inability to take care of themselves. Same goes for me with patients. No one wants to take responsibility for themselves anymore. This doctor also said that he knows an MD who told a guy "If you don't change your ways you WILL die" and a year later the guy was in the grave from a heart attack. The family sued the doctor, and won, because "he didn't puruse the patient to change his lifestyle vigorously enough." Granted, MD's get sued 1000 times more often than chiropractors, but that's reality. Everyone wants a quick buck and no one wants the responsibility of taking care of themselves or paying the consequences when they do something stupid.
 
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