To you welding contractors out there: What's the best way to get insurance for yourselves?
I do part time, after hours welding on a contract basis. Since this is not my main source of income (it hardly covers the cost of maintaining my equipment), it is difficult for me to justify purchasing liability insurance for my work. On the other hand, I know all it would take is one person to say, "Well, I paid that guy to do it!" and I'd be f*cked.
I contacted Allstate (my current vehicle insurance provider) about getting contractor insurance for myself, and they wanted something in the neighborhood of $10k per year because I had a welding machine and a cutting torch. Damn! I might make $3k a year doing my little side jobs, so there is no way I could justify that!
Should I just quit, and tell everybody to go away? I love doing this, and it is great stress relief after starring at a computer screen for 8 hours.
Any ideas? Did I say the wrong thing to the insurance company? Is there a secret phrase?
What are my other options? Should I declare myself as a sole proprietorship or limited liability business, or would that help?