Finimpact

Conclusion

Whether you recently launched your startup or are in the growth stage, startup business insurance is not an option. It’s a necessity. If you’d like to protect your property, employees, investors, and customers, it’s well worth the investment. Best of luck in your search for startup business insurance! 

As a new business, you might be in need for extra funding to cover all your business needs and expenses. If that's the case, explore the best startup loan options we have gathered on our list.

Best Startup Business Loans

FAQs

What insurance does a startup business need?

The type of insurance your startup needs depends on its size, location, and industry. Some of the most common required policies, however, include workers’ compensation insurance, general liability insurance, and business property insurance. 

How important is business insurance in an early startup?

Business insurance is especially important if you’re an early startup who hopes to grow. It can protect your venture from a wide variety of unexpected liabilities and losses. 

Do you legally need business insurance?

Most states require startups with employees to invest in workers’ compensation, unemployment, and disability insurance. Other policies may be mandatory as well, depending on your location and industry. 

What insurance do I need if I’m self-employed?

If you’re self-employed, factors like your industry, location, business asset, employee count, and unique products and services will determine what insurance you may need. General liability insurance and professional liability insurance are two commonly required solutions. 

What does small business insurance cover?

Small business insurance can cover a variety of claims that may be filed against your startup. It can protect you if a customer or employee sustains an injury on your property, a customer sues you for negligence, or you get into an accident while in a work vehicle.

About the Author

Anna Baluch

Anna Baluch

Personal Finance Writer

Freelance copywriter who enjoys writing for large publications as well as startups, small to medium sized businesses.

More about me

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