Insurance Checklist for Entrepreneurs and SMBs

This quick checklist helps you prioritize essential coverages to protect your business against common risks, interruptions, and liabilities.

Essential Insurance (High Priority)

• Business Multi-Risk Insurance: facilities, inventory, machinery
• General Liability Insurance: third-party damages arising from operations
• Health Insurance for Employees: if you have staff
• Fleet or Cargo Insurance: if your business transports goods

Recommended Insurance (Based on Activity)

• Logistics Insurance: CargoShield™, WarehouseSafe™, TransitPlus™
• Cyber Insurance: protection against data breaches and cyberattacks
• Surety Bonds: contract performance and guarantees
• Employer Liability / Workers’ Compensation (if applicable)

Steps to Purchase Correctly

Identify your key business risks
Prioritize essential coverages
Request quotes from multiple insurers
Review exclusions and waiting periods
Work with a broker to optimize cost and coverage

Estimated Costs

• Multi-risk: 0.10% – 0.40% of insured value
• Liability: depends on industry and limits
• Fleets: based on unit type and route

AURA Recommendation

Start by protecting what would most impact your operation (multi-risk and liability). Then add specific coverages as your business grows and exposure increases.