You have an idea, you’ve identified a market gap, you solve a problem, you have the talent — and finally, you’ve made the decision: you’re starting your startup. It’s an exciting moment. But after the initial thrill come the questions, and the first decisions need to be made.
Starting a company doesn’t have to be complicated, but doing it right is another story. From registering the company, distributing shares, and drafting bylaws, to opening bank accounts and handling taxes, the process can feel overwhelming if you don’t have professional guidance or institutional support.
Fortunately, there are organizations specialized in supporting startups throughout the entire setup process. Public administrations are also increasingly offering tools, incentives, and streamlined processes for entrepreneurs.
If you add companies like Qonto or Weecover, which actively provide the essential services startups need — quickly and simply — your launch has every chance of success. But that doesn’t remove your responsibility to meet legal requirements and ensure your business starts on solid ground.
Insurance: One of the First Things to Consider
One of the most important considerations at the beginning is insurance. We know it’s not the most exciting topic, and it’s often misunderstood. Many founders wonder which coverages are mandatory and which are advisable for their startup.
The good news is that, for most tech or innovative startups, only a few insurances are strictly mandatory:
- Workers’ Accident Insurance: If you have employees and are subject to a labor agreement, you’ll need to contract accident insurance as required by the agreement. This covers your employees in case of accidents, disability, or death.
- Vehicle Insurance: If your company uses a vehicle or fleet, it must have valid insurance.
Beyond that, additional coverage depends on your specific sector. For instance, construction companies may need a Decennial Insurance.
What About Liability Insurance?
Many founders immediately wonder about General Liability Insurance (GLI) — and the short answer is: you probably should have it.
Depending on your activity, liability insurance may be mandatory for certain professionals and sectors, such as:
- Healthcare providers
- Lawyers
- Insurance brokers
- Financial intermediaries
- Administrators in insolvency cases
- Entertainment and events
- Public or school transport
- Travel agencies
- Elevators
For most tech startups, liability insurance is not legally required. However, it is highly recommended. GLI protects your business against claims from employees, clients, suppliers, or other third parties. It safeguards your assets — crucial both at launch and during growth.
Types of liability coverage include:
- General Liability: Covers damages caused to third parties during business operations. Coverage limits are typically high to fully protect against potential claims.
- Product Liability: Covers damages caused to third parties by defects in products you sell.
- Professional Liability: Covers damages resulting from advice or services you provide.
- Data Protection Liability: Covers claims in case of unintentional violations of data protection laws.
Liability insurance is often treated as mandatory by investors, clients, and partners. Without it, your startup may appear vulnerable and risky, even if legally it isn’t required.
Other Recommended Insurance for Startups
Once you’ve covered the basics, other insurances can be extremely valuable, affordable, and tailored to startup operations:
- Cyber Insurance: Protects against damages to third parties caused by cyberattacks, viruses, or malware. Essential for IT consulting or tech-heavy startups.
- Property Insurance (Office/Commercial Space): Covers rented or owned premises, including damage to property or liabilities in your workspace.
- Accident or Business Interruption Insurance: Provides financial support if an accident temporarily halts operations.
- D&O Insurance (Directors & Officers): Protects founders and executives against claims related to their managerial decisions, especially important when external investors or venture capital enter the business.
- Key Person Life Insurance: Covers losses if a CEO or founder passes away unexpectedly.
- Device Insurance: Covers office equipment, technology, and furniture against accidental damage or disasters.
A solid insurance policy can protect your startup from major setbacks — which can be critical in the early stages of a tech or innovative company. The peace of mind alone is worth the annual cost.
Simple Startup Insurance Through Weecover and Qonto
Thanks to Weecover, our partner Qonto offers a startup-specific insurance package that includes most essential coverages, which can be added easily during company registration.
With just one click, you can select coverage that includes:
- Liability Insurance
- Accident Insurance
- Cybersecurity Insurance
All at a competitive annual cost between €199 and €295, depending on coverage, with price guarantees for the first three years.
It’s an easy, cost-effective way to launch your startup safely, letting you focus fully on growing your business.
