Too Cool For Coverage
Thursday, June 4, 2015 at 12:30PM
Denny Christner in Running a Business, Small Business Insurance, Startups, Tech Insurance

I know, you're COOL. Right now you're probably in your sweet new office working on a reclaimed wood communal table while sipping espresso with your headphones plugged into you macbook. We get it... you're cool, your website is cool, everything about your business is cool. We love that you are cool! Insurance however is NOT cool, it's not something you want to have to think about, deal with and especially pay for.

However, just because you're a young, cool, thriving business does not mean that you are exempt for being sued. Someone or another business is not going to forego suing you because you're cool. It amazes me some of the responses we get on why start-ups are not buying insurance. Some of these responses are, "We don't need professional liability because no one requires it of us"; "We don't need to comply with the insurance requirements because they need us more than we need them"; "We're pre-revenue so we have nothing to lose".

Here are the appropriate responses: 1. Just because no one is requiring you to carry coverage doesn't mean they won't sue you... 2. Just because you may be out of compliance doesn't mean they won't sue you. 3. Just because you're pre-money doesn't mean that they can't and won't sue you.

Too many start-ups have an untouchable mentality when it comes to lawsuits and insurance. When you are a young business you are still learning and likely making some mistakes. This is probably the time when you need insurance the most. 

I hate to rant, but when a comprehensive policy that covers general liability, professional liability, data breach and your business owned property can be purchased for around $1,000 per year, there are no excuses for not protecting your business. If you don't buy coverage for your self, consider about buying it for your employees. Think about it. If you need to defend the business which will cost thousands of dollars, what jobs go first? 

Before you get up for the next espresso shot, spend 2 mintues to get a quote here, I won't tell anyone so you can keep you're cool. 

Article originally appeared on Insurance 4 Technology (
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