The life of an insurance agent can be hectic — especially if you've decided to go solo.

But as you work to get your new agency off the ground, it's worth slowing down enough to consider some credit contingencies.

Here are some steps to take that can help you grow your agency's business without putting your credit in danger.

1. Incorporate your business

If you're operating as a sole proprietor, your business debt is essentially your personal debt — and, by extension, your credit, too, will be one-and-the-same. Incorporating your insurance business as an LLC, S Corp. or C Corp. can help keep your agency's losses and liabilities off of your personal balance sheet, and thusly, off your personal credit report. Thanks to the advent of online legal companies, incorporating your business can be done with relative ease. Of course, you may want to meet with an attorney or accountant to find the best set-up for your agency.

2. Choose business loans wisely

Some business loans, including business credit cards, require a personal guarantee — meaning, if you sign on the dotted line, you'll still be considered personally liable for any debt you incur or fail to pay off. When choosing financing, be sure to read the fine print so that, at the very least, you understand when you're assuming such a responsibility. You'll also want to ask lenders about their credit reporting policies.