Author Topic: Insurance companies for small manufacturing?  (Read 1835 times)

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Offline SlowBroTopic starter

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Insurance companies for small manufacturing?
« on: December 05, 2016, 09:46:02 pm »
Any insurance companies you recommend? I'm in the startup phase of an urban/hobbyist farming automation solutions manufacturing company. Made several calls but open to other options.

Relevant facts:
* The first of several products will be an automated door opener with phone notifications via server and SMS.
* Built from an ESP8266-based ESP-07S (FCC certified), 28BYJ-48 stepper motor, ULN2003 (probably) driver, and D alkaline batteries. This device connects to an Amazon AWS server via MQTT. There is a website (also likely hosted on AWS) for customer interaction with the device. Phone alerting via SMS, likely using a third-party service such as Twilio.
* Payments received via PayPal.
* I need $1M General Liability at least, would really like Errors & Omissions and Data Breach coverage as well.
* I'm working alone at the start; no employees, no sub-contractors.
* Operating as a Sole Proprietor to begin. (But will incorporate if that's preventing coverage.) Incorporation will indeed happen soon, but not on day one.
* I live in Florida in the United States.
* I'll be buying components from overseas. (But will consider buying domestic if that's preventing coverage.)
* Less than $10k gross sales expected the first year.
* Sold direct to the customer via the internet.
« Last Edit: April 10, 2018, 08:47:33 pm by SlowBro »
 

Offline DerekG

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Re: Insurance companies for small manufacturing?
« Reply #1 on: December 05, 2016, 10:46:46 pm »
Any insurance companies you recommend? I'm in the startup phase of an urban/hobbyist farming automation solutions manufacturing company.

I would make an appointment to see an insurance broker. Tell him what you think you need insurance wise & let him suggest things from his end. Come to an agreement about what is important & then let him chase around the insurance companies for the best deal.

He gets a discount from the insurance company so you will likely pay less than trying to deal with the insurance company direct.
« Last Edit: December 05, 2016, 11:14:03 pm by DerekG »
I also sat between Elvis & Bigfoot on the UFO.
 

Offline SlowBroTopic starter

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Re: Insurance companies for small manufacturing?
« Reply #2 on: December 05, 2016, 11:04:52 pm »
DerekG: Yep, speaking with brokers now.

blueskull: Intriguing. I'll ask my lawyer about that.
 


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