Bookkeeping and Accounting Setup
Assess whether your new business has a bookkeeping system, chart of accounts, and process to keep clean records from the start.
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For founders, new owners, and anyone starting out
Business Insurance Needs
Screen the common insurance coverages a new business may need (liability, property, workers compensation, professional), and what to review with a broker.
4 guided steps
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Official guidance links
Start the free checker
Your free guided checker
Answer a few quick questions below. It is private - nothing is submitted or stored - and takes about a minute.
Informational business-formation diagnostic only; not legal, tax, accounting, or investment advice. Confirm entity, tax, and state decisions with a qualified attorney and CPA.
The questions this tool walks you through
Here is what the checker asks and why each step matters. Prefer to talk it through? Contact us and we will help directly.
Will you employ anyone - even one part-time worker - beyond the owners of the business?
Workers' compensation is mandated in almost every state once you have employees, and it is one of the few coverages the law requires rather than merely recommends - so having staff changes the answer from "should price" to "must carry."
Secure workers' compensation now, on top of your general liability baseline.
Official guidance: SBA get business insurance
Does the business give clients advice, designs, or professional services they rely on to make decisions?
When customers act on your advice or work product - consulting, accounting, design, IT, health, legal-adjacent services - a general liability policy will not respond to a claim that your professional work was wrong; that gap is what professional liability (errors and omissions) is built to cover.
Add professional liability (E&O) to your general liability baseline.
Official guidance: SBA get business insurance
Do you make or sell a physical product that a customer could be injured by or that could cause damage?
A tangible product carries product-liability exposure - a defect or failure can injure a user or damage property, and a general liability policy may not respond to that as fully as a dedicated product-liability policy or endorsement does.
Add the coverage that matches your specific exposure to the baseline.
Official guidance: SBA get business insurance
Do you hold sensitive customer or payment data, or use vehicles for the business?
Stored customer or payment data creates breach and ransomware exposure that general liability excludes and cyber liability is built for, and business use of a vehicle is typically excluded by a personal auto policy and needs commercial auto - either one is a specialized coverage to add on top of the baseline.
Add the coverage that matches your specific exposure to the baseline. Price general liability plus property as your baseline coverage.
Official guidance: SBA get business insurance
Want a professional to confirm your answer?
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