Starting up a one-man art studio - Insurance is proving difficult to find, and what I have found is $$ - Advice/Perspectives appreciated

Hey folks, I'm dealing with a bit of sticker shock and could use some advice.

I am starting a one-man-show art studio. I have my LLC in the process, and I am trying to nail down insurance. My studio will be capable of providing 3D design, modeling, scanning and 3D printing, the painting of prints, etc. The type of work I will be doing is pretty art/visual centric, as in; fine arts sculpture, art restoration, theatrical props, model kits, non-functional prototypes, etc. No functional aerospace parts (one company asked about this specifically), structural elements, or parts otherwise integrated into a system. In other words, pretty safe stuff.

The only quotes I have been able to find (3D printing has apparently red-flagged me from a number of providers when applying) have been $1300 for general liability, $2500 for E&O. Combine that with (albeit seemingly reasonable) property insurance, and I come in at over 4K a year.

This all seems excessive for what I do, IMO. The general liability (despite the cost) is a no brainer, but I'm not sure about the E&O. Granted I COULD miss a deadline, or (though unlikely) deliver a product of poor quality, I have to wonder how high the stakes are. Worst case I guess (assuming I've kept LLC separate from personal) I would just lose my studio, equipment, etc.

I'm pretty new to all this, so any perspective is appreciated.

Submitted November 07, 2018 at 07:45PM by liminal-state https://ift.tt/2F6XVAd