Technology Insurance
Technology Insurance for Your Computer Business
Software and systems are constantly changing, which is why you need a technology insurance company that stays on top of the latest trends and technologies. At Baldon Insurance Group, we offer comprehensive technology insurance solutions to keep your business protected against the unique risks you face.
Top IT Insurance Needs for the Tech Industry
Data Breach
Data breach insurance helps cover the costs associated with a data breach, including notification, credit monitoring services, and public relations efforts.
Errors and Omissions Insurance
Also known as tech E&O insurance, this coverage helps pay for any errors or omissions in the services that technology businesses provide.
Business Income for Electronic Vandalism
This insurance helps replace lost income if your business operations are interrupted due to electronic vandalism or cyberattacks.
Fraudulent Transfer
Coverage for losses resulting from fraudulent instructions or money transfers, protecting your business from cyber fraud.
Contractual Liability
Protects against liabilities assumed under contract, ensuring your business can handle any contractual obligations.
General Liability Insurance
This insurance helps protect your business from claims of bodily injury or property damage caused to others during your operations.
What Is Technology (IT) Insurance?
Technology insurance, also known as tech E&O insurance, is designed to help cover the unique risks associated with technology businesses. It can help cover the costs of errors or omissions in the services provided by your business. For instance, if a graphic designer at your company provides designs that a client claims are incorrect, tech E&O insurance can help cover the costs of the resulting claim.
What Kind of Insurance Does a Tech Company Need?
Tech companies typically need several types of insurance coverage, including:
- Data Breach Insurance
- Technology Errors and Omissions Insurance
- Business Income for Electronic Vandalism
- Fraudulent Transfer Insurance
- Contractual Liability Insurance
- General Liability Insurance
To learn more about the specific coverages your tech company needs, get a quote today. We can also help you get certificates of insurance to show your customers that you have the right coverage.
How Much Is Technology Insurance?
On average, our customers pay $1,019 annually for a Business Owner’s Policy (BOP), or about $85 a month. Technology insurance costs vary because every business is unique. The best way to determine your technology insurance cost is to get a quote.
Having Business Insurance If You Work at Home
Even if you work from home, having tech insurance is essential to run your business. The right coverage can protect you from customer claims and potential problems that could shut you down. Whether you’re an independent contractor or run a small business, make sure you’re protected. Our policy for small business owners includes:
General Liability Insurance
Protects your technology business from lawsuits for bodily injury or property damage.
Commercial Property Insurance
Covers the place where you do business and the tools you use, like computer equipment and office furniture.
Business Income Insurance
Helps replace lost income if you can’t run your business because of covered property damage, like a fire.
Why Is It Important To Have Technology Insurance?
Whether you’re a small business owner or an IT contractor, tech errors and omissions insurance can help keep you protected when the unexpected happens. Without it, you risk losing everything you’ve worked so hard to build.
Who Needs Technology Insurance?
- Software Developers
- Telecoms
- IT Service Providers
- Computer Consultants
- Web Designers
- Programmers
Taking Care of Your Team
Accidents can happen anywhere, whether you’re fixing a computer at a client’s house or creating a new software system from your couch. Protect yourself and your business with technology insurance. Most states require business owners to have workers’ compensation insurance, even if they have just one employee.
Termination Lawsuits
Employment practices liability insurance helps protect your business if a current or previous employee sues you for wrongful termination, discrimination, retaliation, or harassment.
Injuries
Workers’ compensation insurance is required by most states to help small business owners provide important benefits to employees for work-related injuries or illnesses.
Covering Your Operations
As a business owner in the technology industry, you know things can change quickly and unexpectedly. Our coverages help you navigate these challenges.
Software Malfunction
Technology professional liability insurance helps protect you from errors, mistakes, negligence, and omissions that can occur during your technology services.
Stolen Personal Information
Interruption of computer operations coverage helps cover the loss of business income if you’re unable to operate due to a computer virus.
Protecting Your Property
Every day, small businesses face risks that could shut them down. Having support from a technology insurance company that has your back can help keep your business successful.
Theft
Commercial property insurance coverage helps protect your equipment from theft and fire, ensuring you can get back to work quickly.
International Incident
Liability Worldwide coverage helps protect your company when conducting business operations outside of the United States.
