LLC Company- HELP

[Cherry Hill Daycare]

Hi, I'm opening up my own daycare in 2 weeks and I am licensed and very excited. However, my husband thinks I should get a LLC Company insurance policy. How important is this and how many of you actually have one? Also, how is the best way to get one?
Thank you for your opinion!

[Laurel]

Originally Posted by Cherry Hill Daycare

Hi, I'm opening up my own daycare in 2 weeks and I am licensed and very excited. However, my husband thinks I should get a LLC Company insurance policy. How important is this and how many of you actually have one? Also, how is the best way to get one?
Thank you for your opinion!

What does LLC mean?

I have liability insurance for my daycare. I use DCI, Inc. (Day Care Insurance). I have been very happy with them.

Laurel

Edited to add: http://dcins.com/home.php

[itlw8]

I would go on the tax forum and ask Tom.. Liability Ins. is extremely important are you a LLC or sole provider?

[Starburst]

Originally Posted by Laurel

What does LLC mean?

I have liability insurance for my daycare. I use DCI, Inc. (Day Care Insurance). I have been very happy with them.

Laurel

Edited to add: http://dcins.com/home.php

LLC means a Limited Liability Company. An LLC is like a bubble that protects your nonbusiness related assets. Say if a child gets hurt at your business and the family sues you and you have an LLC then they can only go after your business assets but not your personal assets like if you were a sole proprietor (personal assets: home, car, spouse's car, children's college fund).

She talks a little more about it in this video:
http://www.startapreschool.com/training/business.html

[Blackcat31]

Originally Posted by Cherry Hill Daycare

Hi, I'm opening up my own daycare in 2 weeks and I am licensed and very excited. However, my husband thinks I should get a LLC Company insurance policy. How important is this and how many of you actually have one? Also, how is the best way to get one?
Thank you for your opinion!

Here is a blog entry by Tom Copeland about LLC's and whether or not it is right for you.

http://www.tomcopelandblog.com/2011/...mpany-llc.html

He has some fantastic info on his site.