Cryptocurrencies and blockchain seem to be the hot topics of today. Whether through investing or companies switching to crypto as their primary form of payment, crypto-based businesses seem to be all the rage. But crypto isn’t without risk and many companies are still not willing to leap without some sort of safety net. From cyber attacks to legal disputes, the world of cryptocurrency-backed businesses remains a rather exposed industry. Traditional insurance companies don’t have the means or the know-how to properly insure these types of businesses. 

That’s where crypto insurance comes in. Commercial cryptocurrency and blockchain insurance can help businesses branch out into the exciting world of crypto while still having the peace of mind of insurance backing. From employee coverage to cybersecurity, crypto insurance covers all the bases. This aspect of building a business doesn’t have to be complicated. There are insurance brokers with expertise in this area who want to help you find the policy that makes the most sense for your business. 

What is crypto insurance? 

Similar to traditional insurance, crypto insurance allows for blockchain and crypto-based businesses to acquire coverage for whatever issues the company may face. Lawsuits, reputational harm, errors or omissions are all issues that a company could experience and having the right coverage can help mitigate losses. Also, having insurance coverage, no matter what industry, helps encourage trust with customers and adds to the legitimacy of your business. Clients and customers want to see that you are protected. This signals that you are a business that cares about your employees and your client base. 

What does crypto insurance cover? 

Crypto insurance companies offer similar coverage to traditional insurance but are understanding of the risks undertaken by blockchain or crypto-backed businesses. From General Liability to Workers’ Compensation, crypto insurance can cover all of the necessities while considering the unique aspects of the cryptocurrency space. You want to be covered for risks you did not foresee- that is why going with an experienced and knowledgeable insurance company is paramount. 

Where do you get crypto insurance? 

Few insurance companies offer crypto coverage and even less understand the nuances of the industry. You will want to choose companies that are considering all possible risks and are willing to work with you to figure out exactly what you require. Companies like Embroker specialize in difficult to insure industries. Through their expertise, they are able to provide comprehensive coverage using their advanced knowledge of what crypto-backed businesses require. Choosing a company that understands not only your needs but also those of your customers is important in finding the right insurance policy for you. 

The first step to getting coverage is to visit an insurance company that provides cryptocurrency policies. Brokers like Embroker, allow you to take a simple quiz to figure out what might be necessary to properly insure your businesses. Experienced crypto insurance brokers will help you identify what areas you might need to cover in order to be fully protected. Through Embroker, you will be able to purchase general liability and commercial property insurance as well as add on additional commercial crime and workers’ compensation packages. These insurance policies are required for most businesses operating within the United States and will help you establish yourself as a company. Plus, having these benefits will help attract top talent in the crypto space looking to work for companies that plan ahead. 

Insurance is one aspect of building a business that you hope you never need. Unfortunately, blockchain and crypto-based businesses face unique challenges that require unique insurance. By working with an insurance broker that understands what running a crypto company entails, they can provide essential and targeted insurance policies that will give you comprehensive coverage. Not only will this allow for peace of mind while building your business but it will encourage potential employees as well as clients to engage with your company. 

Don’t wait until you need insurance to start looking. Begin the process now so that you can focus on what really matters; building a crypto or blockchain-based business that is innovative and groundbreaking. Work with crypto insurance brokers who understand your goals and can help you protect all that you’ve been working towards. It’s simple. Reach out to a crypto insurance broker today and start building the policy that feels right for you. You’ll be thankful you did.