Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
(OP)
I am planning for a part-time sole proprietorship that provides construction materials testing, geotechnical, and general civil design services. Nuclear densometer included. I would greatly appreciate input from those experienced in this arena.
Names of insurance companies and contact information for those who provide insurance for small entities would be great.
Thank You
Names of insurance companies and contact information for those who provide insurance for small entities would be great.
Thank You





RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
Dave
Thaidavid
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
I agree that to the point of protecting yourself the best you can. If you are paranoid about losing everything then you can either:
1) Get a ton of insurance.
2) form a corporation (this has some tax problems associated with it)when operating in different states and, they are not always bullet proof.
3) quit engineering and open a hotdog cart outside a baseball stadium..... Wait, then someone might choke on a hotdog and you might get sued, scratch that.
I was a partner in a PC, when my partner died we dissolved the corporation and I continued on as a SP. So my I have the same insurance that was set up under the previous corporation. I'm waiting for the day when they decide to drop me..... Then the big question..... what's the deal with the tail?
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
You guys need to stop giving legal advice. In my state, your joint assets are always more protected than solely owned. The OP needs to sit down with an attorney (he's going to need one anyway if he's running a business), and discuss his options.
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
Sorry Forensic, couldn't resist. Great advice though, you shouldn't generally go to a engineer for legal advice just as you shouldn't go to a lawyer for engineering advice.
Professional and Structural Engineer (ME, NH)
American Concrete Industries
www.americanconcrete.com
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil
For example, I learned from my attorney that in my state all assets are ultimately at risk, but it boils down to the number of "hurdles" you place in front of them. I was surprised to learn that IRA and 401k funds have different risks. Putting everything in the wife's name is not without risk as well....what happens if she's sued for an auto accident, or something that isn't covered by liability insurance, etc.
RE: Recommended Insurance for Sole Proprietor Consultant, Materials Testing, Geotech, General Civil