Build a risk-ready startup with comprehensive insurance solutions
Join the ranks of thriving entrepreneurs with our custom business insurance for startups. Safeguard your innovation while securing your future.
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Insurance Policy to Cover Startups
The Only Insurance You Need for your Digital Assets
Safeguard your startup's sensitive data and intellectual property from cyber attacks, breaches, and ransomware. Protect your reputation in the digital age with Covrzy’s cyber insurance for startups in India.
What are the Risks Faced by Startups
BharatPe's Founder Feud
BharatPe filed a civil suit seeking INR 89 Cr in damages from former co-founder Ashneer Grover and some family members, highlighting the legal and governance risks startups may face.
Shark Tank India's Legal Bite
The makers of Shark Tank India sent a legal notice to Dorje Teas for copyright violations related to using pitch clips in social media ads, showcasing the intellectual property challenges startups encounter.
Google's Billing Policy Dispute
Startups like Matrimony.com and Unacademy filed petitions against Google’s in-app billing policy, but the Madras High Court dismissed them, underlining regulatory and platform dependency risks for startups.
Insured Professionals: Who's Covered?
Founders & Co-founders
Directors & Officers
Employees (Full-time)
Investors
Inclusions
Data Breach Response
Cyber insurance for startups covers costs related to managing data breaches, including notification and legal expenses.
Third-Party Liability
Commercial General Liability Policy provides coverage for claims of bodily injury or property damage to third parties, essential for liability insurance for startups.
Medical Expenses
Group Health Insurance (GMC) covers hospitalization and medical expenses for employees, offering comprehensive health insurance for startups.
Accidental Death and Disability
Group Personal Accident (GPA) insurance provides financial benefits in case of employee accidents, enhancing employee insurance for startups.
Legal Defense Costs
Directors & Officers Insurance covers legal expenses for defending against claims related to managerial decisions, ensuring comprehensive startup insurance.
Fire Damage
Fire insurance for startups covers losses due to fire, ensuring protection for inventory, equipment, and premises.
Exclusions
Intentional Damage
Does not cover damages caused intentionally by the insured.
Prior Knowledge
Does not cover claims arising from circumstances that were known or should have been known prior to the policy inception date.
Pre-Existing Conditions
Health insurance for startups often excludes coverage for pre-existing medical conditions unless otherwise specified.
Wear and Tear
Does not cover normal wear and tear of equipment and machinery.
War and Terrorism
Excludes damages resulting from acts of war or terrorism.
How are Startups Covered with Insurance
In 2022, a promising Indian fintech startup faced a significant financial loss due to a cyber attack that compromised sensitive customer data. The breach not only resulted in substantial financial penalties but also led to a loss of customer trust and a decline in business. With business insurance for startups, startups can easily mitigate the financial impact of this disaster.
Secure your Startup Today!
Covrzy’s comprehensive startup insurance is here to safeguard your business in minutes. Connect with a Covrzy expert to craft your perfect insurance plan.
Frequently Asked Questions
What types of insurance does Covrzy offer for startups in India?
Covrzy provides comprehensive startup insurance, including liability, health, employee, and cyber insurance tailored for startups.
Why is liability insurance important for startups?
How can cyber insurance protect my startup?
Do you have more questions?
Contact us for any queries related to business insurance, coverages, plans and policies. Our insurance experts will assist you.
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