STARTING A RESTORATION BUSINESS

Don't skimp on the insurance. One of my wife nephews bought a cabinet door business from her brother, going business made a ton of money. Recently after one of the Louisiana storms his insurance raised his rates after paying for his damage. He thought it was too much so he cancelled everything except Liability. You guessed it 3 weeks the shop caught fire in the middle of the night and burned to the ground. All of his machines including 2 CNC machines and multi thousands of stock all burned. Absolutely nothing was saved. He had no insurance and it will cost him much to get going again. Not only that he still owes his mortgage for building and equipment he no longer has. Bad situation!!