Comments on: Is insurance necessary for your startup?

By: Monday RoundUp - Finances, insurance, and that blasted email

Monday RoundUp - Finances, insurance, and that blasted email — Mon, 31 Mar 2008 13:06:11 +0000

[...] At StartupSpark, Shannon starts a conversation about business insurance – and how it can CYA in a dire situation. Chime in with your insurance experiences. [...]

By: Rebecca

Rebecca — Sat, 29 Mar 2008 11:26:54 +0000

This is a great topic and one that alot of homebased or travelling entrepreneurs often overlook because it’s not mandatory to consider it like it is when you lease a space for your business, where it’s required.

Not too many businesses can afford to be out of commission for very long before it becomes mission critical. I’m blessed to not have needed it, but this is a great reminder for all of us.

Great post!

By: Jennifer Hofmann

Jennifer Hofmann — Fri, 28 Mar 2008 16:25:01 +0000

Hey, Shannon!

There’s nothing like talking business insurance to get people uneasy. Do I need it? Will I need it? Can I afford it? Are all questions I hear from folks I work with.

Unforunately, I get skeptical 1. because insurance companies tend to prey on people’s fears and 2. (like one guy mentioned in the article) when you file a claim, the premium goes up.

For a tiny start-up, that increase can be a big gouge and defeat the whole purpose.

I’m lucky that my coverage is pretty inexpensive but I might consider getting business interruption insurance since I’m a one-woman show.