Liability

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buckaroo2219

Joined
Feb 13, 2013
Messages
47
I was was wondering what your thoughts are on carrying liability insurance. I haven't sold a knife but if I ever do is this something to think about.
 
Unless you make a concerted effort to provide shivs for horrible people, you are in far more danger of wandering in front of a speeding bus than you are of getting sued because someone used one of your knives negligently or for nefarious purposes.

As for house/shop insurance... consult a local source. Laws and policies vary widely.
 
I would say if you make a lock blade that fails under normal use and the user cuts his finger off, I could see a judge leaning towards the victim.
all this crazy stuff people sue for don't mean they win the case.
could eventually cause you a bunch of lawyer fees though over someone's ignorance.
 
I would place liability insurance for knifemaking right behind meteor insurance for your shop in the order of need.




Just a comment/note - If you can't search on your cell phone app, wait until you are at a keyboard that you can search from before asking a question that a little research would best answer. Patience is a great skill in knifemaking.
 
My insurance company flat dropped me when I went full time UNLESS I carried liability insurance (2 million minimum) what a racket.
 
If I were a full time maker, with thousands of dollars in equipment and supplies, I would definitely carry insurance. If there is an accident with your knife, you can be assured of being named in a law suit---even if you had no connection to the incident. If you have insurance, the insurance companies will provide your attorney and PAY the legal fees. Without insurance, the legal fees will be high enough to possibly put you out of business.

I am not a full time maker, I am a hobbyist. I have an umbrella policy (very cheap) added to my home owners policy that will provide the necessary protection.

In another lifetime, I practiced law. Our firms retainer requirement for a liability issue like this would be $5,000.00. The legal fees went up from there. And, that was in 1982... Teddy
 
Liability is a part of the package I buy. I pay $1000/year. Covers liability, personal injury, and property including theft at the shop and at shows, etc.
 
I tried to get liability insurance and only one company I contacted would insure me and they wanted 6K a year for basic liability.....

They decided I had to be grouped with gun manufactures. Go figure.
 
Goldsmithy said:
If I were a full time maker, with thousands of dollars in equipment and supplies, I would definitely carry insurance. If there is an accident with your knife, you can be assured of being named in a law suit---even if you had no connection to the incident. If you have insurance, the insurance companies will provide your attorney and PAY the legal fees. Without insurance, the legal fees will be high enough to possibly put you out of business.

I am not a full time maker, I am a hobbyist. I have an umbrella policy (very cheap) added to my home owners policy that will provide the necessary protection.

In another lifetime, I practiced law. Our firms retainer requirement for a liability issue like this would be $5,000.00. The legal fees went up from there. And, that was in 1982... Teddy
Click to expand...

Spot on. Insurance is something you might never use, but if you need it you will likely have all of your premiums covered for 2 lifetimes. I guess it comes down to this: in the slim chance it's an issue, can you comfortably cover the costs?
 
KalEl said:
I tried to get liability insurance and only one company I contacted would insure me and they wanted 6K a year for basic liability.....

They decided I had to be grouped with gun manufactures. Go figure.
Click to expand...

Maybe contact fiddlebacks insurance company?
 
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