Do I Need Insurance for My Online Business?
AskPat 2.0: A Weekly Coaching Call on Online Business, Blogging, Marketing, and Lifestyle Design
Pat Flynn
4.9 • 638 Ratings
🗓️ 26 February 2016
⏱️ 7 minutes
🧾️ Download transcript
Summary
Today's question comes from Liz, who asks about insurance. Does she need insurance for an online business? Do you have a question about legal side of your business? Record it at http://www.askpat.com/.
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Transcript
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| 0:00.0 | AskPath. |
| 0:04.0 | AskPath.com |
| 0:06.7 | Dot com. |
| 0:07.0 | Askpats.com. |
| 0:09.0 | Askpats. |
| 0:10.0 | Hey, what's up, everybody? |
| 0:12.0 | Pat Flynn here and welcome to episode 549 of Ask Pat. |
| 0:15.9 | Thank you so much for joining me today. |
| 0:17.5 | As always, I'm here to help you by answering your online business questions five days a week. All right, here's today's question from Liz. |
| 0:25.1 | Hey, Pat, this is Liz at Liznaturally.com, and I saw you speak at the Lead Pages conference, |
| 0:32.4 | and you were terrific. Thank you so much for speaking. It was a great talk and go back street boys. |
| 0:40.5 | Anyway, my question is about business insurance. |
| 0:44.0 | I have health and wellness coaching online business. |
| 0:48.8 | I have liability insurance because I teach live yoga classes and fitness classes. |
| 0:53.7 | But my question is, do you need |
| 0:55.9 | business insurance for an online business? Thanks for all you do. Love the podcast. Bye-bye. |
| 1:03.0 | Hey, Liz. Thank you so much for the question. I'm glad to hear you have liability insurance for |
| 1:07.7 | what you do. I think that's important for certain kinds of businesses, of course. But in terms of business insurance, like online business insurance and things like that, |
| 1:14.2 | I actually have that too. And it actually came in handy when my site was hacked in March of 2013. |
| 1:20.3 | My site was down for about a week. And as a result, it was estimated that I lost about $15,000, |
| 1:26.1 | which is pretty insane when you think about it. |
| 1:27.5 | But it shows you why it's important for if you have a business and it's primary online, why insurance is something that you should think about. |
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