Going further off a question I had asked earlier, about simply installing bolt handles on customer bolts.
Buddy and I are going to get into the chassis making business. We have a unique idea that to my knowledge has not been done.
Obviously we would need an FFL if we were going to receive customer rifles in the mail. Beyond that would there be any special insurance needed if we were to install chassis systems on a customer's barreled action?
Love shooting precision and long range. Big bores too!
Recent college grad, started a company called MK Machining where I'm developing a bullpup rifle chassis system.
Posts: 2598 | Location: Missouri | Registered: 29 March 2006
You need general liability or an umbrella policy. Small business probably $500-$1,000 a year. Call your auto ins/homeowner carrier and maybe you can get a bundle deal.
Posts: 3837 | Location: SC,USA | Registered: 07 March 2002
True. They will try to get you to over-insure. Figure out your worst case scenario. What if a rifle you welded a bolt handle on suffered a lug failure and your weld didn't hold? The bolt is driven into the client's face. He/she is injured or killed. How much would they sue you for?
quote:
Originally posted by p dog shooter: Some times it is easy to over insure what are you worrying about
Posts: 3837 | Location: SC,USA | Registered: 07 March 2002
Originally posted by Bobster: ... [If] The bolt is driven into the client's face. He/she is injured or killed. How much would they sue you for?
If they end up with permanent brain damage, the sky is the limit ... literally millions. Might be a good idea to do business as either a corporation or a LLC. You would still need some amount of liability insurance, but imposing "personal liability" on you in such a fact situation would be much more difficult. Talk to a business lawyer in your state. The cost of forming a corporation or a LLC, just might be some of the cheapest insurance you could buy.
No one said not to consult a lawyer. What I have observed is an effort to reduce legal exposure. Nothing wrong with that. Are you calling me a SOB? My mother was a fine Christian woman. I take offense in that! [/QUOTE]Who needs to consult a law office when every other SOB on this site is a "sea lawyer".[/QUOTE]
Posts: 3837 | Location: SC,USA | Registered: 07 March 2002
When I was in the USN, we always had several "sea lawyers" in our outfit. They were the "experts" on everyone's legal troubles. Be it navy business or personal.
Bobster, chill, there's nothing wrong with being a "Son Of Britain"
Tyler, the simple answer is no. There is no legal requirement for you to be insured and you do not need insurance IF YOU ARE WILLING TO ASSUME THE RISK.
People and companies purchase insurance to reduce risk. Conducting any sort of gunsmithing work carries inherent liability risks. Your question should be "How much risk am I willing to assume?" That is a question you can research and answer yourself but seeking the advice of an attorney and discussing it with your insurance company will help you make a better decision.
Another way to reduce risk, and the smart thing to do, is to establish a legal business entity with assets separate and apart from your personal assets. Never mix the two. If done correctly, that will tremendously reduce any potential personal liability.
.
Posts: 10900 | Location: North of the Columbia | Registered: 28 April 2008
You should have a liability policy, and fire/theft/flood. Sit around with your partner and a few beers and imagine what could go wrong. Guns stolen, shop burns, whatever.
Posts: 956 | Location: PNW | Registered: 27 April 2009
Thanks for the advice guys, and sorry for the late response. Been quite busy with work, and then trying to get this business all figured out.
We will talk with a lawyer about the subject. While we wouldn't be messing with the barrel or action, this is going to be a unique design that would require messing with the trigger.
Love shooting precision and long range. Big bores too!
Recent college grad, started a company called MK Machining where I'm developing a bullpup rifle chassis system.
Posts: 2598 | Location: Missouri | Registered: 29 March 2006
I think you need to stop thinking and acting like a logical legitimate businessman, and start thinking and acting like a parasitic ambulance chasing lawyer.. The question the virus will be asking is" How can I blame the guy that did the stock work for the accident/death, mishap caused by (fill in the blank)".
It may not be the individual you did the work for hiring the pirate, but if he did something really stupid, it could be his wife or family that goes out looking for a virus to mess up your life..
bottom line is some sort of umbrella insurance is a must.. maybe even an LLC or Incorporating to protect your personal assets.
NRA Benefactor.
Life is tough... It's even tougher when you're stupid... John Wayne
Posts: 1984 | Location: The Three Lower Counties (Delaware USA) | Registered: 13 September 2001
One more question, although it may be buried since the original question has been answered. This is going to be a very unique design, and have a trigger which we modify included with the stock/chassis.
If we modify a Remington 700 trigger, what type of liability are we opening ourselves up to? We won't be messing with anything except the actual trigger part you pull with your finger, and modifying it to work from a separate location.
Love shooting precision and long range. Big bores too!
Recent college grad, started a company called MK Machining where I'm developing a bullpup rifle chassis system.
Posts: 2598 | Location: Missouri | Registered: 29 March 2006
