Free checklist · Business owners
The New Business Insurance Checklist
What to get before you open, what to add in year one, and what most businesses miss by year two.
Preview: Pre-launch essentials
General Liability (required for most leases and client contracts)
Covers third-party bodily injury and property damage. Most commercial landlords require $1M minimum before you sign.
Business Owners Policy (BOP) if you have a physical location
Bundles GL and commercial property. Often cheaper than buying separately.
Review your personal auto policy if you drive for business
Personal policies exclude business use. One at-fault accident during a business errand can void the claim.
Enter your info to unlock the Year 1 and Year 2 sections.
Year 1: Add these as your business grows
Workers Compensation (required in TX once you hire W-2 employees)
Texas does not mandate it, but the civil liability if an uninsured employee is injured can be devastating. Get it before your first hire.
Professional Liability / E&O (if you give advice, consult, or provide services)
GL does not cover claims that your advice caused a client financial harm. E&O fills that gap.
Cyber Liability (if you store client data or process payments)
A data breach affecting 500 client records can cost $75,000-100,000 in notification costs alone before any legal exposure.
Commercial Auto (if any vehicle is used for business)
Personal auto policies exclude business use entirely. Covers company vehicles and employee-owned vehicles used for work.
Year 2+: The gaps most businesses miss
Review GL and BOP limits as revenue grows
Coverage limits that made sense at $300K revenue are often inadequate at $1M+. Review annually.
Key Person Insurance (if the business depends on one or two people)
A life or disability policy owned by the business on a key employee. Funds a buyout or covers revenue loss if a founder or rainmaker is incapacitated.
Group Health and Life Benefits (when competing for employees)
Group health is often the top benefit candidates ask about. Level-funded plans can cost less than fully-insured plans for stable teams.
Buy-Sell Agreement (if you have business partners)
A life insurance-funded buy-sell agreement ensures that if a partner dies or becomes disabled, the surviving partners can buy out the interest at a predetermined price.
Compliance disclosure. Skybridge Insurance offers are presented by Drew Evans, a state-licensed insurance producer (Texas, NPN
9402266), an independent broker. Errors & omissions (E&O) coverage is in place. Skybridge Insurance is
not affiliated with any government agency, including Medicare, Medicaid, the Social Security Administration, or HealthCare.gov. Quotes are free and requesting one does not obligate you to purchase; submitting a quote request does not purchase or bind coverage. Coverage, availability, and pricing vary by carrier, state, and individual circumstances. See our
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