RMSSHELTON Posted April 21, 2008 Share Posted April 21, 2008 What kind of insurance, and how much do you all recommend.I just got our assumed named certificate (DBA), Tax Id number and Sales Tax and use permit.Ok.No onto insurance......Granted we are a ways from actually selling candles.However, since we are sole Proprieter and home based, what do you guys recommend?As much info as possible please.Thanks Quote Link to comment Share on other sites More sharing options...
Meridith Posted April 21, 2008 Share Posted April 21, 2008 I would make sure your HOI is O.K with you making and selling candles from your home first. Often times, they frown upon thsi and just may cancel your policy. If you rent, make sure your landlord is aware of what you are planning on doing and is O.k with it. Lots of landlords don't mind but its best to check. How much insurance you get is up to you, what you want to insure and how much stock you plan on carrying, etc. There is an insurance out there for chandlers but I'm drawing a blank on the name. Hopefully someone will chime in with that info. I get my insurance through the same company I have my HOI but I dont' run my business from my house so it is a separate policy and one they did not mind writing for me. Had my business been in my home, they would not have insured me but not all insurances are like that and will insure you in your home. Quote Link to comment Share on other sites More sharing options...
sockmonkey Posted April 21, 2008 Share Posted April 21, 2008 Your insurance agent is who you should rely on to tell you how much insurance you need. Nobody here knows what kind of dwelling you have, how much inventory you have, or what kind of sales you're capable of producing, so those are all things to discuss with your agent. Quote Link to comment Share on other sites More sharing options...
candlelady Posted April 21, 2008 Share Posted April 21, 2008 I'm in Texas and my HOI allows me to have a business but it cannot be more than 600 sq. ft. Mine is right at 600. My candle shop is in a separately building on my property, so I'm OK. Ask your HOI people and see what they say.I have a product liability policy for $1 million, that covers product liability (in the event some decides to sit one of my lit candles under their curtains and blames ME or whatever they decide is my fault!), inventory and supplies in the event I blow my shop up or I'm broken into, etc...!If you have your car insurance through a nationally known company ask them if they offer this type of insurance. Mine did! I pay less than $300 per year. If you've been with them for as long as I've been with mine, they may just issue you a policy. I've been with my insurance company for 30 years. HTH!Carrie Quote Link to comment Share on other sites More sharing options...
RMSSHELTON Posted April 21, 2008 Author Share Posted April 21, 2008 I'm in Texas and my HOI allows me to have a business but it cannot be more than 600 sq. ft. Mine is right at 600. My candle shop is in a separately building on my property, so I'm OK. Ask your HOI people and see what they say.I have a product liability policy for $1 million, that covers product liability (in the event some decides to sit one of my lit candles under their curtains and blames ME or whatever they decide is my fault!), inventory and supplies in the event I blow my shop up or I'm broken into, etc...!If you have your car insurance through a nationally known company ask them if they offer this type of insurance. Mine did! I pay less than $300 per year. If you've been with them for as long as I've been with mine, they may just issue you a policy. I've been with my insurance company for 30 years. HTH!CarrieMy homeowners said that if I ran business out of my house they would Cancel my coverage.Ohh well for that.I had to explain to them that I wasnt haveing customers come to my house, and that I havent started anything yet. That I was just getting information.Anyway. I am still trying to find an actual company. IF ANYONE KNOWS OF ONE LET ME KNOW.Thanks Quote Link to comment Share on other sites More sharing options...
Abbiepql Posted April 22, 2008 Share Posted April 22, 2008 If you mentioned it somewhere, I apologize - what state is your business in? Quote Link to comment Share on other sites More sharing options...
RMSSHELTON Posted April 22, 2008 Author Share Posted April 22, 2008 If you mentioned it somewhere, I apologize - what state is your business in?I dont know if i did.It is TEXAS Quote Link to comment Share on other sites More sharing options...
Meridith Posted April 22, 2008 Share Posted April 22, 2008 I was having a brain fart and the insurance I was thinking of is through the soapmakers guild for soapers. I would not recommend risking your HOI for this venture. If this venture should work out, maybe you can find a cheap shop to rent? If there is a will, there's always a way. Quote Link to comment Share on other sites More sharing options...
Beth-VT Posted April 22, 2008 Share Posted April 22, 2008 My advice is to save your money.....for now. If you just ordered your first batch of supplies today, you have a very long way to go before you will/should be selling. When you have made a ton of candles, thoroughly test burned them, and are confident you have a safe and quality product, then go out and get your insurance. Insurance for this biz isn't cheap, why pay for what you don't need at the time. JMO. Quote Link to comment Share on other sites More sharing options...
Abbiepql Posted April 24, 2008 Share Posted April 24, 2008 I was going to recommend Erie, but they don't sell in TX. Quote Link to comment Share on other sites More sharing options...
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