Carol asked:

I own a small New Age retail business that sells essential oils for aromatherapy, tumbled stones (crystal healing) along with other products.

Even though I have signs posted to consult a licensed medical practitioner regarding medical problems, I am wondering if I should get liability insurance. If so, what is the ball park cost for such insurance.

Larry Simoes answered:

Every individual or business needs liability insurance. Regardless of the signs posted in the store, it will not prevent a lawyer from trying to sue you. All you need is a dissatisfied client with a real or perceived injury to hire a lawyer.

A sign or a waiver helps your case, but does not prevent a lawsuit. Also liability insurance does not only protect you against the claims made against you by the products you sell, you can also be sued for such simple things like a slip and fall in the store or on the sidewalk. If the store is leased you will be libel for damages to the building caused by you. In fact your lease agreement may require you to carrier liability insurance.

The cost of insurance has many variables, it is best to consult with an Independent Insurance Broker to get the best coverage available at a reasonable price.

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