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I have been locksmithing for several years now (working for a company), and more and more often, my friends and aquantences are needing lock work done. I haven't had my own company insurance, and I don't mind that for residential work, but recently I've received more work from businesses. Because of liability, they would want me to have insurance.

My question is, should I worry about insurance, or just not do the work? I feel like I'm missing out if I turn them down, and it's business I would need if I went out on my own.

What insurance company do you guys use that is affordable and reliable for small time work? Should I have bonding too, and should that come from an insurance company, or a locksmith institution like SAVTA?

Thanks in advance

By the way

I got one quote for about $625 a year for insurance

This year I've just done about $2000 in side work for one company. Plus I've done quite a bit of work for free (by my own choice not their request) because I'm good friends with them. Also I'm not really liable because I'm just there telling them what to do or helping them do it. At least that's how I see it

Yes get insurance but that quote sounds expensive. Also are you licensed as a locksmith? Is that what you meant by bonding? Savta etc normally have a deal going with a company somewhere that will get you better pricing for insurance. Licensing etc I think you might need to look at aloa or somewhere.
If a local locksmith has insurance, bonding etc then you should have the same.

SAVTA (Safe And Vault Technicians Association) is part of ALOA. Bonding is basically coverage for customers so that if I steal anything, the bonding company will reimburse them, whereas insurance would be if I damaged their property or caused someone injury. My state does not have any locksmith licensing. I will have to check and see if there are any insurance discounts for SAVTA members, I hadn't even thought about that.