Liability insurance for consultant?

[honkeoki]

My wife and I are considering creating a consulting business to help advise newbies on their first firearms purchase.

Here's my question: does anyone have any idea what sort of liability insurance I'd need to pursue this line of work?

Any thoughts are appreciated, and thanks.

 

[kingpin008]

There's a market for that?

We've been doing it here at no charge for free!

 

[danbrew]

I suppose you could find some insurance company, somewhere, that would underwrite anything, but I can't imagine the cost would be reasonable. Also, I'd suggest finding another way to describe what you plan to do - do you really want to have to face a civil suit at some point and explain why you selected the "wrong" firearm for the plaintiff? Knowing that anybody can be sued by anybody for anything, I think I'd find a less culpable sounding line of business. The mere fact that you think you need insurance for this line of work tells me that you're worried about some of the same things I am when I think about how you've described your business. It might be better to describe it as a "Security Consultant" or a "Personal Protection Class" or some such. Always have your clients sign waivers saying they have received professional training elsewhere and are well versed in firearms safety and local laws, etc.

Just my nervous $0.02.

 

[Trebor]

Are either you or your wife instructors? You can get insurance as instructors through the NRA.

If you aren't instructors, what are your credentials to offer such a consulting service? Just looking at it from the customer's point of view. What makes you an expert that they should hire for this purpose?

 

[Bailey Boat]

Being a property management consultant myself, yes you can get insurance. The first thing the company will want to know is how many years you have been doing this and exactly what qualifies you to do it. In my case I had over 20 years of experience and numerous certifications within the property management field. Most of my clients insisted that I have 5 million of liability (>2k) and then the kicker was errors and omission insurance. The E&O really hurt.... (>5k) The longer you have it the lower the cost becomes but it still hurts every September when I renew.....

 

[Bishop.357]

Talk to the legals in the NRA,they might already have what you are looking for.

 

[honkeoki]

Thanks for the input, folks. Let me answer the specific questions:

1. Is there a market for that?

Where I live, yes. There are folks who want to buy their first gun but are intimidated by their own ignorance (as well as by firearms at all) and would be willing to pay for advice.

2. Qualifications?

None currently. Per the suggestions I will become an NRA-accredited trainer. I wasn't aware that the NRA offers insurance for trainers. That's a great plus.

3. Waivers

Great idea.

4. Do you really want to get sued because you advised a client to purchase the "wrong" firearm?

No. I really don't.

Thanks for the specifics on figures, Bailey Boat!