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Portfolio PaperworkYou are ready to invest in a startup. You've done your homework and worked hard to ensure you have the right company, the right founders and the finances to back it up. Now it's time to think about the risks you are taking on.

Many business investors focus on how much money they could lose if the business were to fail. However, you also need to consider that you are working with business owners that may be inexperienced and a company with a combination of limited resources and new employees. All of this adds up to business operational risk. The good news is you can significantly reduce that risk by investing in the right business insurance.

How E&O Insurance Can Help Investors


Business investors and advisors take on a great deal of risk to help a company make it to the top. You may have the money on hand and the expertise to nurture a startup into sustainability, but you also have to consider the risk you put on yourself by getting involved. E&O insurance, or errors and omission insurance, can take some of the financial pressure off of you if that risk becomes reality.

E&O coverage acts similar to a professional liability insurance plan. It protects you from claims that your professional service wasn't effective or in some way failed another person. It can also help to protect you, as the advisor, when there are mistakes made by others running the company.

How to Get Covered


The good news is that E&O insurance is not hard to get and it can provide you with a great deal of financial safety. The key with this type of business insurance is to ensure it covers the specific risks faced by the company you are working with, based on the industry, size and risks that organization faces.

Keeping your business running is essential, but protecting your own interests is also important. Talk to your insurance agent today about how E&O insurance can help to protect your investment in any startup — including any advice or guidance you give to those running the organization.

Get the right coverage. Start by calling Lancette Agency, LLC at (651) 264-1230 for a free Minnesota business insurance quote.
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