Stage 8
Insurance
The coverage that matters depends entirely on what could actually go wrong in your specific business.
The core coverage types
General liability: covers third-party bodily injury, property damage, and some advertising-related claims. The baseline most businesses need, and often required by landlords or clients before they'll sign a lease or contract with you.
Professional liability / Errors & Omissions (E&O): covers claims that your professional advice or service caused a client financial harm. Relevant if you provide services, advice, or expertise (consulting, design, tech, financial services, etc.) rather than just selling a physical product.
Workers' compensation: covers employee injuries on the job. Required by law in most states once you have any employees (thresholds vary by state — some require it starting with your first employee).
When each one actually triggers
A good rule of thumb: general liability if you interact with clients/customers/public in person or on their property; E&O if your value is advice/expertise rather than a physical product or fixed deliverable; workers' comp the moment you have your first employee, no matter how part-time.
Options to consider
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