Can a corp avoid storefront liability insurance?
Im thinking of opening up a rehersal studio in tampa. nothing too big, maybe 2 equipped rooms. I have almost all of the equipment. This is a VERY LOW initial investment type of venture (under 5k)
So, i can find some space for perhaps 800-1000 a month. then id have some utilities as well.
The thing that I am AVOIDING is insurance. IF I incorporate, will that protect me in the VERY unlikely event that someone gets hurt on premise? I read online that you can be liable as an individual even if you incorporate if you dont provide reasonable coverage. So sure, if I opened a gym or something where injury is possible, id be wrong. My logic is that nothing much can happen in a rehersal studio so if i can avoid this burden then why not? what if I only allow clients by appointment and require them to sign a waiver that they practice at their own risk?
Finally, how much would basic ins cost and what is it called.
Im trying to be crafty here