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Your startup is real. And in the moments between chasing customers and iterating on your MVP, you’re choosing the tools and partners that comprise your “startup stack”, like payroll, corporate cards, and yes, business insurance.

It’s time to build. Time to hand-select the team that’s going to get you to your first product launch. Even with a team you trust, expanding beyond the founders means that new risks related to employment litigation are introduced.

Getting customers on board. Things are getting real! Your product is out there, and you have paying customers relying on you. Now is the time to make sure you’re covered for situations caused by an error or vulnerability in your product.

Building a collaboration space. For many companies, in-person collaboration is irreplaceable. Whether it's a WeWork or a longer lease, this is a good time to check your lease requirements and make sure your General Liability coverage is sufficient.

Looking ahead to next year. If your business hasn’t changed much, renewing your insurance may be as simple as re-filling your application and clicking submit. But if you’ve grown or pivoted, you should chat with your account manager about whether to update your coverages.

Getting ready to scale. You’ve got traction, now it's time to convince additional investors that you're ready to ramp up. Series A investors will usually require D&O coverage before closing, but having policies in place proactively can make your company more appealing.

Proactive risk management strategy. Now is when risk management gets a bit more “hands on”. The stakes are higher, and more finances are at risk. You may choose to delegate insurance responsibility to a leader with operations or risk management experience.

Landing your first whale. Big clients come with high expectations–especially if they’re used to partnering with established companies. Customers often have their own insurance requirements, so you should review your policies to make sure they’re aligned.