[thelist] LLC and Insurance (Was: Contract Opinion)

[Gina Anderson]

Hello all,

First, thank you to those that responded to my question on the contract
clause. I appreciate your input. Which comes to my related questions....I
would like some input from those of you who have or know about professional
liability and errors and omissions insurance which Philip mentioned. I'd
also like anyone who is an LLC or knows biz structures to chime in on this.

My questions are:

1.) If I'm an LLC, do I still need liability insurance? It seems being an
LLC protects you from that, buuuttt---if something awful were to happen, I
doubt my piddly business assets would appease them. The same goes for the
insurance, if I have that, do I really need to mess with being an LLC?

2.) Those sites that blast "Form an LLC Online!"--are they good to use? I
mean, is it worth paying the extra money for them to send the forms in to
your state--versus me filling them out on my own? Any other advantage of
using them, and does anyone have any recommendations for online companies
that do this? Is the "basic package" good enough?

3.) Recommendations on where to get professional liability and errors and
omissions insurance? Before I call my home insurance agent, I want to have
some price comparisons.

Any other input relating to this that I should know about would be great.
Thanks to anyone willing to help.

Thanks,
Gina