Liability insurance

[jmont]

I am considering starting my own appliance repair business.  It would be part time at first.  I am trying to get an idea of the cost to do this.  One unknown I have is liability insurance.  I got one quote but it appears that it is for large claims and the customer would actually have to file suit against me for the insurance company to pay the damages.  Do you guys have insurance that would cover relatively small claims?  For example $500 to pay for a damaged floor caused by me.  And would the customer need to file a law suit to collect?  Does anyone have any suggestions for a good insurance company for my purposes?  Any info on the insurance topic would be greatly appreciated.

[viking351]

http://www.fastbusinessinsurance.com/types/appliance-repair-shop

[jumptrout51]

The worst part is,in 45 years of business,I have not had one incidence of any sort of claim.
There have been no problems whatsoever.

[jmont]

jumptrout,
You have never damaged any floor or wall?  Or if you did, did you just pay for the repair out of your own pocket?  Are you saying you never had insurance or that you never needed to use it?

[jumptrout51]

I have it,never needed it.
Knock on wood.

[jimbo6679]

If you work on anything like an icemaker, or a dishwasher, where a water leak could happen....no matter whose fault it is......a wood floor can be a $5000 item in an hour or so of undetected leak!    Second story condo....even more.     

[jmont]

One question is: Would that customer need to actually sue me to collect from my insurance company?  Or would my insurane co pay for the damage if I admitted the damage was my fault?

[jumptrout51]

Your insurance company will tell you to admit nothing.
You simply refer the claim to them.
If you are very careful and conscientious you won't have any claims.
Take your time and do it right.