Telecom Business Insurance
Putting Telecom Business Insurance in the Spotlight
Telecommunications businesses provide cutting-edge technology solutions in a variety of industries, including cable television, radio, and television broadcasting.
Owners of telecommunications businesses face many unique risks on top of the usual risks small businesses encounter, such as property damage and data loss.
At Baldon Insurance Group, we offer specialized telecom business insurance to help protect your business and ensure its continued success.
Business Owner’s Policy for Telecom Small Businesses
Most telecommunications businesses should have a Business Owner’s Policy (BOP) as part of their insurance plan. A BOP helps protect your business much like a homeowners policy helps protect your home. By combining three basic coverages, a BOP can help save you money while safeguarding the communications business you’ve worked so hard to build.
General Liability Insurance
This coverage helps protect you from lawsuits if someone claims your business caused an injury or property damage. It can even help cover certain claims of slander or libel. However, business liability does not cover claims arising from the professional services you provide. A professional liability policy would cover you for those claims.
Commercial Property Insurance
Commercial property coverage helps protect the place where you do business. It also helps protect your tools, including computers and installation equipment. Commercial property insurance applies to your property, whether you own or rent it. For even more protection against theft, you can look into fidelity bonds for your small business. These can help safeguard your business from employee theft, forgery, and robbery.
Business Income Insurance
This coverage can help cover the loss of income if you have to close your business temporarily because of covered property damage. This could include damage from a fire that keeps you from opening for several weeks.
Optional Coverages to Add to a Telecommunications Insurance Policy
Professional Liability Insurance (E&O)
Working with new technology puts your business at a higher risk of errors and omissions in the services you provide. If you’re facing a lawsuit for a mistake in the services you provide, professional liability insurance can help provide financial protection and help cover the cost of your legal defense.
Business Income for Off-Premises Utility Services Coverage (OPUS)
Your telecommunication company depends on power and communication services to run. If these services are interrupted by something that’s out of your control, like storm damage, OPUS can help pay for the income you lose.
Computers & Media Insurance Coverage
Every telecommunications business relies on technology. Insurance protection for this technology can be essential if you depend on computers to communicate with customers, store sensitive business information, file employee data, record customer data, and hold contractor files. If a virus corrupts your business’s records, computers and media coverage can help pay to replace lost data.
Data Breach Insurance Coverage
Telecommunications businesses keep sensitive employee and customer information, like social security numbers or credit and debit card information. If this information gets lost or stolen, data breach coverage helps pay the costs of letting the affected individuals know, tending to public relations, advertising to restore your reputation, and paying legal liability expenses.
Hired & Non-Owned Auto Insurance Coverage
If you borrow, lease, or rent a vehicle for business purposes, hired and non-owned auto coverage helps protect your business if there’s an accident involving that vehicle.
Bundling Telecommunication Industry Insurance Coverage
Stretch Your Dollar
It’s easy to bundle important coverages and increase your telecommunications insurance protection at an affordable price with our Stretch® endorsements. For telecommunications businesses, we offer:
- Technology & Software Providers Stretch
- Super Stretch for Technology & Software Providers
- Super Stretch for Business Services
Contact an agent from Baldon Insurance Group about these cost-effective telecom insurance solutions today. We’ll help take the guesswork out of selecting the right coverage for your business.
Other Important Telecommunications Insurance Options for Businesses
Workers’ Compensation Insurance
Workers’ compensation insurance provides benefits to your telecommunications employees for work-related injuries and illnesses. Benefits include medical care costs and wages for lost work time. If a worker’s family decides to sue you, this coverage can also help cover the related legal fees for your business.
Commercial Auto Insurance
A business auto policy can provide coverage that is typically not included in a personal auto policy. It can help cover you or your employees if an owned vehicle used for business purposes is in an accident.
Home-Based Business Solutions
If you run your telecommunications business out of your home, a BOP provides coverage not typically available with a homeowners policy. This includes commercial property coverage if your business property is damaged by a covered cause and business income coverage if you can’t operate your telecommunications company temporarily.
Finding the Right Coverage
Telecommunications businesses face a variety of unique risks. At Baldon Insurance Group, we understand these challenges and offer customizable insurance coverages to meet your needs. Our specialists will work with you to create a risk management plan that provides comprehensive protection for your business.
