Insurance is an investment you need to make. Your company needs to be insured, from your general slip and fall to auto coverage, to cyber, SAAS insurance, and everything in between. Insurance will help you attract investors, top talent, and build customer relationship.
When to get insured
Startups need business insurance if they:
Work with customers or clients
Own business property
Rent business equipment
Advertise their business
Provide professional advice
Want to protect their personal assets
Collect customer data
Which type of insurance
There are basic coverages that are necessities from the start, like general liability, cyber liability, errors and omissions, and directors and officers insurance.
Your company's need for different types of insurance will change as you grow. For example, you'll need commercial property insurance when you rent office space. And you'll need worker's compensation insurance as soon as you have your first employee. Expanding internationally? You'll need foreign liability insurance.
They are a startup, built for startups so they designed their program to meet the specific needs of early venture-backed companies. They are a service broker, so it will be more expensive.
A traditional provider that has rolled out new policies to enter the startup market. Since they are a bigger company, they like to add value with basic business needs. The Hartford writes insurance and does brokerage, so they could be cheaper than other places.
Unlike Embroker, they aren't using technology services to run their business but they are focused on serving startups.
A solid old school insurance broker.
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