To run an errand running buissness out of my home...I will buy their grocceries with my own money and get money from the customer when i drop off their grocceries to them..do i need to be bonded and insured for this or no????
2007-03-25 03:00:53 · 6 answers · asked by melissap1 2 in Business & Finance ➔ Small Business
Not if you are only delivery items. But if you are running errands, this might include taking something from them to another place. Like a coat to the cleaners. For that, it would be nice to be bonded, it provides peace-of-mind to those entrusting you with their belongings. Also, you may be asked to pick up and deliver to your customer a pre paid item.
"Bonded" always looks good on a business card.
2007-03-25 03:06:12 · answer #1 · answered by Yinzer from Sixburgh 7 · 0⤊ 0⤋
The short answer would be yes.
A fidelity (Business Services) bond is very similar to insurance. It protects your clients in the event an you or employee steals from them. While it does not protect you, it would provide a level of comfort for your accounts.
The rates are very cheap and based upon the number of employees and the amount of coverage. They range from a $5000 bond with less than 5 employees at only $100 to a $100,000 with 25 employees less than $800 per year.
These are instant issue bonds are readily available on the internet or through your local insurance agent. You can run a Google search for Fidelity Bond and find a site that has on line submissions. One of those sites processing on line applications is www.southcoastsurety.com.
For your own protection, you should have some liability coverage.
2007-03-27 13:13:31 · answer #2 · answered by suretyguy 3 · 0⤊ 0⤋
If the job entails only grocery delivery, then being bonded and insured is not necessary. If you have to enter the clients' home when they are not present, then, being bonded and insured is a good idea.
Regards,
amadeus
2007-03-25 06:27:58 · answer #3 · answered by amadeus 3 · 0⤊ 0⤋
You should have a business license and when you call city hall to see about getting a business license you can ask them about the requirements for running a business such as yours in the city or your area.
Most business licenses require you to be bonded, which isnt expensive but most dont require insurance.
2007-03-25 03:08:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Do the "groceries" include something explosive or a controlled substances? Are the sales more that $10,000?
If no, then no.
2007-03-25 03:15:05 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No.
2007-03-25 03:03:11 · answer #6 · answered by dgreer58 3 · 0⤊ 0⤋