Starting a Business? The Insurance Founders Often Skip
Personal insurance decisions don't pause when you start a company — and business insurance is often more urgent than founders assume.
New founders are usually focused on product, customers and cash flow — insurance often gets deprioritized until a client contract requires it, or worse, until an incident happens without cover in place.
Business insurance to consider early
- Professional indemnity insurance, especially if you provide services, advice or software to clients — many enterprise clients now require proof of this before signing.
- Cyber insurance if you handle any customer data or online payments, even at a small scale.
- Group health insurance once you have a small team — useful for retention as much as protection.
- Property/contents insurance for any office, warehouse or equipment you own or lease.
Don't forget your personal cover
Founders frequently let personal health and term insurance lapse or stay stagnant while building a business, reasoning that “the business is the priority right now.” This is backwards — as a founder, your personal income and health risk often becomes more concentrated, not less, making personal cover more important, not less, during this period.
Frequently asked questions
It depends on your business type, but professional indemnity (for service businesses) or general liability (for businesses with physical premises or products) are usually the starting point, followed by cyber insurance if you handle customer data.
Group health insurance typically requires a minimum number of employees (often 7+), so a true solo founder would rely on individual health insurance instead until the team grows.
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