Originally Posted by
F350scrapper
Car accident would be covered under insurance??? Say I put a hole in a wall in a guys house I could buy liability insurance as a sole proprietor and Inurance cover that as well? Am I right?
Plan for the worst, hope for the best. I'm not sure of your personal insurance situation but if I get into a car accident with my company van and end up crippling / killing someone, I do not want to lose my house in the ensuing lawsuit. As a sole proprietor, your house, personal vehicle, wife, personal liquid assets, accounts, stocks, bonds, child's college funds, etc. all become a part of your business and are put at risk. Not only is it injury liability however. You are also free of legal liability (to an extent). I do not think that moving to an LLC is appropriate for you just yet and I really do not think you will run into trouble anytime soon (or ever), but it's just something to consider.
As far as your name goes, however, you're already set just by virtue of using it openly. Registering it with your county (or in cases like Hawaii, the state) will buff your claim to the name and prevent further headaches. It's good to check out the registry
anyway just to see that it's not already taken, just for good measure.
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