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    Startup Insurance

    As an entrepreneur, launching a startup can be thrilling, but overlooking a necessity like startup insurance can be detrimental to the success of your business. APOLLO Insurance is here to provide you with safe and reliable coverage.

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    There are three kinds of insurance a startup needs.


    Professional Liability Insurance

    Professional liability insurance, also known as errors and omissions insurance for startups, responds to when lawsuits claim a business owner was providing unsatisfactory, negligent, or falsified services to a client.

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    General Liability Insurance

    General liability insurance for startups is the most basic form of coverage that absorbs any fees associated with accidents during day-to-day business operations. Typically, this policy is used against third-party claims of property damage or bodily injury.

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    Contents Insurance

    Contents insurance for startups covers any damages or losses that occur due to a covered peril. Possessing this kind of policy is especially important if an entrepreneur owns or leases a workspace and stores any company-owned equipment, inventory, or furniture.

    No matter the sector, every startup requires the protection of insurance.

    From technology to the food industry, regardless of the category, your startup falls under, you must obtain insurance. From the moment you launch your business, there will always be exposed to risk, and as an entrepreneur, the consequences will fall on you. Whether you’re facing a lawsuit, or an employee injures themselves on the job, you will be the person liable regardless of who’s at fault. That is why we at APOLLO understand you’ll need adequate protection in the form of a customizable insurance plan that will provide you coverage in any situation.

    Being in the early stages of business, your startup may have limited funds. Still, you must invest inadequate protection against any potential risks you face for your business to grow. Without proper coverage, you could end up in a situation where you’re hit with a lawsuit and having to pay massive legal fees out of pocket, resulting in you and your business being unable to recover financially.

    In times of crisis, possessing insurance is a vital component to ensuring your business will recover. No matter the situation, a strong insurance policy will secure your future and demonstrate to investors that your startup is legitimate.

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    Why do startups need insurance?

    Though startups are small companies, that doesn’t guarantee their business is risk-free. From the very beginning, a business must ensure it has adequate protection, or else it could end up going bankrupt at any given moment. Unlike more established companies, the threat that lawsuits, damages, or any other additional expenses pose could be detrimental to the success of a startup. That is why entrepreneurs must acquire insurance.

    To attract investors, startups must prove that they’re a legitimate business, and the best way to do so is by purchasing insurance. Doing this demonstrates their commitment and provides investors with peace of mind knowing that their money is secured if a significant loss were to occur.

    When launching a new startup, there are several legal challenges that entrepreneurs may face. From trademark infringements to breaches of contracts, lawsuits can be filed by clients, the competition, and even their own employees. However, no matter the outcome of a trial, entrepreneurs will always have to pay costly fees. Without proper coverage, the money owed could be detrimental to the future of their business.

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    Get insurance in three easy steps

    Find and select the coverage you need.

    Find and select the coverage you need.

    Choose the payment plan that suits you best.

    Choose the payment plan that suits you best.

    Get your policy documents in an email instantly.

    Get your policy documents in an email instantly.

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    What types of risks do I face as an entrepreneur?

    As an entrepreneur, you aspire to have your business succeed, but without insurance, the risk of errors poses a significant threat. If a client ever felt unsatisfied with the services you provided them, they may feel obligated to file a lawsuit against you. In this situation, you’ll be required to pay various kinds of legal fees, and if left in debt, this could end up jeopardizing your dreams.

    If your startup has an office or leased space, you, your employees, and your clients could be at risk. Whether an employee slips, trips, and falls or your client were to lose their laptop on the premises, you may be liable regardless of fault. To avoid incurring any additional legal or medical expenses, your startup must obtain a general liability policy to absorb these costs.

    Though unlikely, if a fire or flood were to occur, then your startup could face severe consequences. Peril, or unexpected, events tend to cause significant damage or losses to a business. Without coverage, you’ll have to pay out of pocket for any kind of replacements or repairs needed for your startup to operate again.

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    © 2024 APOLLO Insurance Solutions Ltd.

    111 Water Street, Unit 210, Vancouver, British Columbia, V6B 1A7

    APOLLO Insurance Agency Ltd. (o/a APOLLO Brokerage in the province of Ontario only) is a licensed retail brokerage, offering our clients with a comprehensive set of insurance solutions to meet their individual needs. APOLLO Insurance Agency Ltd. maintains necessary corporate licensing in provinces across Canada. Availability of products and service depends on licensing and product availability. The information that appears on this page is provided for information purposes only. Advertised products and prices are not guaranteed and vary based on insurance provider and/or insurance company's discretion and product availability.

    Transparency and Disclosure: APOLLO Insurance Agency's role is to provide you with exceptional service and the best insurance products that suit your needs. As a licensed retail brokerage, our compensation is based on a commission basis already built into your insurance premium and varies based on the product purchased through our platform. For a description of how APOLLO Insurance Agency is compensated and how this is calculated, please refer to our Compensation Disclosure document. For consumers in Ontario, please review the RIBO Conduct Fact Sheet and the RIBO Conduct Guidance document.