When you start a business one of the last things you think about is insurance, but it should be as close to the top of the “to do” list as possible. Why?
- Insurance is required for opening an office space and getting a loan
- Accidents don’t care if you have just started. When they happen, they happen and you need insurance there to mitigate
- Insurance costs. Without knowing that cost you can’t finalize a budget, or know how much to charge for your product or service,
- Without consulting with a professional insurance broker you don’t know what type of insurance you need. Will the everyday General Liability be sufficient to cover your business’ risk, or will you also need Professional Liability and a Business Umbrella? Do you need to be bonded? What are you health insurance options and when would be a good time for your business to buy it?
- How does insurance tie in with your business plan?
- Will your business accept credit cards?
- Will your business buy and sell over the internet?
- Will your business store data in the cloud?
Insurance costs, it is a gamble that you will need it or not……..but when you need it, it’s your best friend. When you NEED it and don’t have it,