Startup Tech

I have worked with startups for over 5 years. If there is one piece of advice I would offer someone is start the insurance process sooner than later.  If you wait until someone requires insurance from you will rush the process and potentially spend more than you should have.

Watch my video about insuring your startup.

My Recommended coverages & reading.
Each are will answer what it covers, what it costs and why you need it.

  • Errors and Omissions Insurance (E&O) - Covers your product/service and should include network security liability and first party data breach cyber coverage.  Cost: Varies. $$$
 
 

Errors & Omissions Liability (E & O) + Cyber/Network Liability

Why You Need It: This coverage protects you if your product fails to perform (breach of contract) and if you product causes a breach in network security.  This coverage is required by most contracts.

When you Need It: Once you have an active product that is being sold.

Cost: $1,000 - $10,000 - This greatly depends on your product and service. Founders resumes. Annual Revenue.  If you are dealing in a low risk area then the cost will be lower.

 

General Liability and Property Coverage

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Directors and Officers (D&O) Liability

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