Protecting your business from day one is part of building it on solid ground. As part of setting up your business with Collective, you can secure General Liability insurance instantly through Coverdash, right from your Activation Launchpad.
This article applies to all Collective members, regardless of membership tier.
When this appears: If you're forming a new business, the "Get Insured" step is available as soon as you enter Activation. If you're bringing an existing business to Collective, this step becomes available once your business verification is complete.
What General Liability Insurance Covers
General Liability insurance is coverage most new businesses carry to protect against common, everyday third-party risks at an affordable rate. It helps with the financial losses, legal fees, medical costs, and settlements that can come from claims such as:
- Bodily injury: a client trips and falls during a visit to your office.
- Property damage: you accidentally spill coffee on a client's laptop during a meeting.
- Personal and advertising injury: your business uses an online image in a promotional post without the proper licensing rights.
Scope note: The Activation Launchpad currently offers General Liability insurance only. If your business needs additional coverage, such as workers' compensation or employment practices liability, or health insurance, you'll find those options in your account's main Insurance tab.
How to Set Up Coverage
Once the "Get Insured" step is available on your Activation Launchpad, here's what happens:
- Review your insurance details. Learn how General Liability protects your business before you continue.
- View your instant quote. In most cases, your quote generates automatically using details you've already provided during setup, like estimated revenue, NAICS industry code, and payroll amount.
- Complete your purchase. Pay monthly using the credit or debit card on file with Collective, processed through Stripe.
- Confirm your coverage. Coverage begins almost immediately after your payment processes, and your Launchpad step updates to complete.
Billing note: The charge for your policy will appear on your bank or card statement as Coverdash, not Collective. Monthly payment plans include a small initial financing fee.
Good to know: You can skip this step during setup if you'd rather arrange insurance later.
What to Expect If Your Setup Needs an Extra Step
Most members complete this process in a few clicks, but a few scenarios call for extra information or a short delay:
Additional information needed for your quote: If any required details can't be filled in automatically, a form will appear on your screen asking you to enter your revenue, NAICS industry code, or payroll amount, along with your payment card details.
Manual quote required: If Coverdash can't generate an automatic instant quote for your business profile, you'll see an option to schedule a short call with a Coverdash Insurance Advisor to finish your setup.
Card declined or payment issue: If your saved payment card can't be processed, you'll see a notification that a Coverdash representative will reach out directly to help you finalize payment and start your policy.
Next Steps
If you have questions specific to your business, reach out to your Collective team. They're here to help.
The information contained in this document is provided for informational purposes only and should not be construed as legal, financial, or tax advice.
Word count: ~350 | Tier applicability: All members (LLC and S Corp) | Disclaimer: Short version