Cost of E & O insurance

[WendyWelton]

Perry,

"You just have to form an "LLC" ..." Therein lies the most dangerous advise you can give.

You can protect your personal assets until you're blue in the face. You still have to address any lawsuit that's filed. Whether you did anything wrong or not - you will still need an attorney, who will not be free. If you ignore it, they can get a summary judgement. Just because they can't take your personal property (maybe - the "corporate veil" can be pierced) - they sure can come take or attach your business assets - like your computer, your Chief licences - and they can make it impossible for you to get business credit.

Trust me - I've been there, done that, and I'm still payin' for the (#&%^@) T-Shirt. I had a case fall through the cracks of insurance (idiot broker, newly insured, never should have listened to him...). I've topped the $20k mark in attorney's fees fighting a case with no merit. Oh, and countless hours spread over 2 or 3 years now. Yes, folks, that's me winning. I don't even want to think about such a case if I had actually been at fault.