For many first-time business owners, insurance isn’t the first thing on their mind when launching their new endeavor. However, start-up insurance is a necessity for long-term success, and a customized insurance plan will help ensure that you and your Georgia business are protected from the very beginning.
Why is Start-Up Insurance Important?
When imagining the future and success of their venture, most entrepreneurs don’t spend time daydreaming about the risks that come with business ownership.
When thinking about insurance, it’s important to consider a few factors. First, there are the specific Georgia requirements for your business’s industry. These can vary, so it’s important to find out what laws apply to you. Consulting with an independent insurance broker can help you make sure you are in compliance with all legal requirements set forth by the state and federal government.
You also must consider the risks and liabilities you may face. Lawsuits and liability claims are never an expectation, but they happen every day. Claims can come from clients, employees, rivals… just about anyone. Defending yourself in court can be extremely expensive, and more often than not, insurance will cover the cost.
Plus, startups are often the target of cyber criminals and fraudsters. These extraneous risks should be considered in the early stages of your business planning.
How Can Start-Up Insurance Help You?
Insurance is something that you may be tempted to disregard until you really need it, but it’s absolutely vital to have at all times.
- Start-up insurance can help in case of:
- Fire, flood, or natural disaster
- Bodily damage
- Property damage
- Slander or libel
- Lawsuits or claims made against your business
- Much, much more
Start-up insurance can give you peace of mind and allow you to focus on building your business without worrying about the what-ifs.
What Type of Start-Up Insurance is Best for Your Business?
It’s incredibly important to find an independent insurance broker who can help you create the best coverage for your business. However, there are a few places you can start when considering insurance.
General Liability Insurance
General Liability Insurance covers physical injury and property damage caused by normal business operations. It can also cover claims of copyright infringement and slander.
Professional Liability Insurance
Professional Liability Insurance will cover mistakes or omissions you or your employees may make that result in financial loss for your clients.
Business Property Insurance
Business Property Insurance helps protect your business’ property, such as buildings and landscaping, and equipment, such as tools, furniture, and inventory.
Simplify Your Search for Start-Up Insurance
At R&R Insurance Group, we believe in the importance of tailor-fitted risk management. Contact us today to learn more about the best start-up insurance options for your Georgia business.