Thanks for using JA. I will do my best to answer your questions. DON’T FORGET the your deposit is not used to compensate me until you rate my service.The entire purpose of an LLC is to protect your personal assets. If your company is sued, then you can also expect that you will also be named personally. It is called "piercing the corporate veil". However, it is very difficult to do and usually you can expect to be dismissed from the action. However, I usually recommend that you also obtain an "umbrella" insurance policy that would cover you personally. These are normally very cheap and cover almost anything that you could be sued over. Another thing you should consider is writing a "limitation of liability" into your contracts stating that your liability is limited to the amount paid for the inspection. See this link for sample language. http://www.poolepl.com/img/~www.poolepl.com/8367july03.pdf
Hope this helps to relieve your concern and it you need further clarification, please continueAs a general rule, your personal assets are not in danger since you have an LLC. Usually the only way would be if you committed a fraud of some type and in such a case your insurance probably would not cover it anyway.
The umbrella covers me with regard to the business and a liability covers the business. Is that right? Do I need more than liability ins. for a home and mold inspection business?
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