Partner Resources Archives - Evansville & Newburgh, IN: Schultheis Insurance

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De-risk your startup business

By , , and The Cincinnati Insurance Company
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You’re ready to start your own business, and you’re taking steps to make it a reality. There are so many decisions to make: determining your vision, identifying your customer base, creating a marketing plan. Another important decision you may not think about at first is purchasing the right insurance to protect your new venture.

Your independent insurance agent can help you identify your company’s risk exposures and tailor an insurance program for your needs. Here are some things to consider:


Valuing your assets is a good place to start. In case of a loss, you have to replace what is damaged. Think about the most likely ways your building or business personal property can be damaged. Fire is a logical place to start, but other causes of loss to think about are windstorm, flood, water damage and theft. Is there anything inherent to your operation that could be the cause of a loss? Are you responsible for other people’s personal property in your care? How much cash do you keep on hand?

Next, determine when your business personal property is off your premises:

  • Are raw materials or finished inventory shipped to you?
  • Do you send products to your customers?

If you do suffer a loss, how long will you be out of business or at least have your business operating at partial capacity? How will you pay the bills? How will you provide your product or services to maintain your customers? Insuring the flow of your income is equally as important as replacing your tangible assets.

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