One thought on “Do I need insurance for an LLC?

  1. Arti says:

    Although not legally required, it’s highly desirable for LLCs to adopt a written LLC operating agreement laying out how the LLC will be governed. For more details, see “LLCs and Limited Liability Protection. The sole proprietor is personally liable for all business debts and lawsuits. Cost: It generally costs more to form and operate an LLC than to be a sole proprietor or have a partnership. These vary from state to state, but can be as high as $800 per year or more for highly profitable LLCs. An LLC provides its owner or owners with limited liability. Because you’re not personally liable, creditors or people who file lawsuits against your LLC can’t collect against your personal assets like you Because you’re not personally liable, creditors or people who file lawsuits against your LLC can’t collect against your personal assets like your personal bank accounts, personal car, or home.

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