Yes, you should do both. A disclaimer, as well as a warning about safe handling, is not absolute protection, since you can still be sued for dangerous packaging, manufacturing, design, etc., but will help protect you from some liability, such as people misusing the knives. Insurance is something *all* businesses should have, to protect them from liability: the insurer can pay for you when you would otherwise have to. You should also create a LLC (limited liability company) or corporation, and conduct your business through that, since doing so will further insulate you personal assets (e.g. you own money & home) from business-related liability and debts.