gtown 0 Posted August 20, 2008 Does anyone have suggestions of what specific liability insurance would be most appropriate for having a video surveillance company? There are general, professional, auto, workers comp, etc but what are the absolute needed ones for a core business? No need to suggest workers comp because there are not additional employees yet, just owners for the LLC. I'd love to hear a nutshell comprehensive version of someone speaking from a great deal of experience and really knowing what is needed without spending a ton of money, but at the same time protecting the LLC from being hit with a lawsuit. Share this post Link to post Share on other sites
oldtimer 0 Posted September 7, 2008 Just general liability insurance for small business will fill your bill. Make sure if you manufacture any equipment, tell the insurance company. Also make sure you have coverage if any installed piece should fall, you have coverage if it hits old granny on the noggin. Another thing I should mention, make sure it covers you for any damage if you have to do any court testimony with regards to giving details about your equipment. If some guy beats a case and you say that's him on the video, you could be sued. Another thing for your protection, have a condition sheet that the custoner signs stating what you expect of the customer and what he can expect of you. State in this sheet that in the event of equipment failure and there is a loss for the customer, he agrees you will not be resonsible for any loss over $50.00. In the back of Security Magazines they have ads for Insurance companies that deal with the security business only. Share this post Link to post Share on other sites
CollinR 0 Posted September 7, 2008 You should also have errors and omissions coverage, this protects you fro liability in the design phase. ie You sell someone some crappy IR on the cam bullets and they get knocked over, they cannot identify the subject because of the whiteout or internal bounceback. They sue you for the cost of the system because it was designed poorly and hence failed to serve it's intended purpose. Also spend some coin on a bombproof contract in the first place. Share this post Link to post Share on other sites
