Pre-Launch Insurance Checklist for New Business Owners | Go-Getter Advisors
You have done the work. You have built the offer, set up the website, created the social media accounts, and told everyone you know that you are launching. The excitement is real — and so is the responsibility. Before you take your first client, there is one category of preparation that most new business owners skip entirely: insurance. Not because it is not important, but because nobody told them what to get or when to get it. This checklist fixes that.
90 Days Before Launch
Decide on your business structure. If you have not yet formed an LLC or other business entity, this is the time. Your insurance will be written in your business name, and having the legal structure in place first makes the process cleaner. An LLC also opens up certain business-only insurance products that are not available to sole proprietors.
Inventory your risks. Before you can buy the right coverage, you need to understand what you are actually protecting against. Ask yourself: Do I see clients in person? Do I store client data? Do I give advice or recommendations that clients rely on? Do I have business equipment or inventory? Each “yes” points to a specific coverage need.
Research your contract requirements. If you plan to work with clients under a formal service agreement, review what insurance requirements those contracts include. Many clients — especially corporate clients, government agencies, and larger organizations — require vendors to carry specific coverage limits before they will sign. Knowing this in advance prevents delays when you are ready to close your first deal.
30 Days Before Launch
Get your general liability insurance in place. This is the foundational coverage for almost every business. General liability covers third-party bodily injury, property damage, and advertising injury. It is required by most commercial leases and many client contracts. For most service-based businesses, this costs $400 to $800 per year.
Get your professional liability (E&O) insurance in place. If you provide advice, consulting, coaching, design, writing, or any professional service, professional liability insurance protects you from claims that your work caused a client financial harm. This should be active before you deliver your first deliverable to a paying client.
Set up your business bank account if you have not already. This is not an insurance item, but it is critical for maintaining your LLC’s liability protection. Commingling personal and business funds is one of the primary ways courts “pierce the corporate veil” and hold business owners personally liable.
Request your Certificate of Insurance (COI). Once your policies are in place, ask your insurance advisor for a Certificate of Insurance. This is the document clients and landlords will ask for as proof of coverage. Having it ready before launch means you are never scrambling for it when you need it.
Launch Day and Beyond
Confirm your health insurance is in place. If you left an employer to launch your business, your employer-sponsored health coverage has ended. Make sure your individual or marketplace health insurance is active before your first day of business.
Review your home-based business exposure. If you are working from home, your homeowner’s or renter’s insurance does not cover your business activities. Talk to your advisor about whether you need a home-based business endorsement or a separate business policy.
Schedule a 90-day coverage review. Your insurance needs will evolve as your business grows. Set a calendar reminder to review your coverage at 90 days — after you have your first clients, understand your revenue trajectory, and know whether you need to adjust your limits or add coverage types.
One More Thing
The single most common insurance mistake new business owners make is waiting until something goes wrong to get coverage. Professional liability insurance covers claims arising from work you have already done — which means if a client from your first month files a claim six months later, your policy needs to have been in place when that work was performed. The best time to get covered is before you need it. The second-best time is right now.
Book a free clarity call with Go-Getter Advisors. We will walk through your business structure, your risks, and your options — no pressure, no jargon, just a real conversation.
Go-Getter Advisors is an independent insurance advisory firm serving women entrepreneurs across Utah, Arizona, and Nevada. Licensed in UT, AZ, and NV.
