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Talk to your auto insurance carrier about an Umbrella Liability Policy.
Also , don't be the only person listed on a LLC , it can be pierced .If you approach any other insurance company about insurance to cover your gunsmithing activities, you will probably get a flat out NO!. Just ask the insurance company that covers your house and vehicles and find out for yourself. When the agent with the insurance company that carries my home owners and vehicles found out I had a small business they wanted to quote insurance for it,,,,,, until they found out it was firearms related. They are scared to death to write a policy that might have as much risk as gunsmithing or ammo manufacturing. There are specific insurance companies that cover gunsmiths. The insurance offered through the NRA or The National Shooting Sports Foundation is probably going to be the lowest cost, but it doesn't hurt to shop the others. Be prepared to submit lots of information. A written copy of your companies "policies and procedures" and your education concerning the activity you are applying for insurance for can do nothing but help you in the long run. Expect a visit from an insurance examiner/investigator from the insurance company that is writing the policy for you. Read the policy carefully and ask questions if you need to. One of the best things you can do is make your company a LLC or incorporate. It'd be best to consult an attorney about doing so, to understand the legalities and tax obligations of doing it. You can incorporate or become a LLC without having an attorney/tax advisor do it for you just by contacting the Secretary of States office in the state where your business is located.
For those interested in the details on how to keep your nose clean, there's an interesting article on this here: https://www.forbes.com/sites/jayadk...lcs-veil-pierced-in-greenhunter/#528b47f22941Also , don't be the only person listed on a LLC , it can be pierced .
After you close shop , for me , I still keep an umbrella policy based on my assets value . Talk to an attorney, one that has FFL backround or firearms knowledge, he /she could direct you to appropriate procedures for protecting your assets .
All the knowledge here is good but we're all different, different states , backround, and assets .
Title says it all - anyone have any good or bad liability insurance experiences specific to the firearms industry? Recommended companies to check out?