When deciding to start a business, there are a lot of factors to consider and it’s important that you use real numbers when calculating costs rather than estimates so you don’t have any surprises. To get actualized insurance costs, be sure to speak with an independent Scottsdale Arizona insurance broker who can help you decide the right type of coverage you need and give you solid numbers to work with. As far as types of insurance to consider, that will depend on the type of business you will be doing. You may need Scottsdale General Liability Insurance, Commercial Umbrella, Workers Compensation, Commercial Auto, Cyber Liability, Errors and Omissions, Directors and Officers, Product, Bonding, etc.
As you can see, it’s important to speak with a professional who can tailor your insurance based on the needs you have and your risk tolerance. It should not take a lot of your time and they will do the work for you after getting to know you and your business. Beyond considering your Scottsdale commercial insurance needs, you may want to meet with a CPA and attorney to discuss tax and legal issues that will affect you. Better to get everything right the first time instead of trying to do it as you are working on bringing in revenue, running the day to day, etc. It’s an exciting time and I wish you the best as you get started.