[svlug] Re: How to be a Contractor? - incorporating

[Jeffrey Siegal]

joel williams wrote:
> (These days, meaningful insurance for our business is essentially 
> unavailable.)

This is sort of true, in the sense that there are a lot of risks in 
terms of errors and omissions, IP infringement, etc. that are difficult 
to insure against, making it hard to achieve real asset protection with 
insurance.  But there are still plenty of risks that are not specific to 
the line of business that can and probably should be insured against. 
For example, if you're carrying a computer to a client site and drop it 
on someone's foot, ordinary business liability insurance should cover 
your liability for the injury.  Similarly, regular car insurance may not 
cover liability from accidents that occur while driving "on business", 
so you probably want a rider or separate policy, etc.

By the way, I was sued by a client many years ago.  The case was 
eventually dismissed but not before running up $25K in legal bills (on 
my side and I suspect a similar if not larger amount on their side).