Small Business Start Up Finances Guide

Step 2 – Consider Your Insurance Needs

We know – yawn, yawn, insurance stuff.

But what if you were hurt on the job? Or hurt somebody else? Or had your tools stolen? Or made a mistake and got sued for professional indemnity?

Insurances that new businesses commonly need can include:

  • Income Protection – if you have stopped being an employee, you are no longer covered for Workers Comp so that if you get hurt on the job, you will no longer be covered
  • Legal Liability – Could your business suffer loss from the legal liability of your business for personal injury to another person (other than employees) or damage to property owned or controlled by someone else.
  • Professional Indemnity – for those who are professionals whose mistakes can cost a client losses
  • Other Business Insurance – can include fire, theft, damage and all sorts of other nasty things.

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