As an IT professional, imagine an employee of yours makes a mistake that causes a client to lose important data, or that software or a system you designed quits working. Your client may be unable to run his or business, and you could face a lawsuit.<\/p>\n
These are only two\u00a0examples of why you need\u00a0tech insurance<\/a>. Your business may need some of the same kinds of coverage any business does, but in your profession, there are some special needs you face that not every business owner does.<\/p>\n Let\u2019s explore some of the types of insurance you may need for your IT business.<\/p>\n Professional liability insurance<\/a> covers a company or business owner if a service he or she provides\u00a0or failed to deliver does not live up to expectations. This would apply to an IT professional who might be responsible if he or she is responsible for the loss of important data for a client, or if software quits working, rendering a business inoperable (as mentioned above).<\/p>\n It is sometimes called malpractice insurance, when doctors purchase it. Besides IT professionals, specialized professionals such as doctors, attorneys, chiropractors, dentists, accountants, architects, engineers, and others, including wedding planners, and commercial printers purchase it. It pays for attorney<\/a> fees and other court costs and can keep a small business owner from being responsible for a huge debt he or she can’t afford.<\/p>\n Cyber liability insurance<\/a> protects businesses against expenses and liability caused by the loss or theft of data\u2014something all IT businesses could face. It also protects against the\u00a0expenses arising because of a breach of data<\/a>, privacy, or security, especially for businesses hosting another company’s information.<\/p>\n Even though clients should have their own cyber liability insurance to protect themselves if something like this were to happen, IT professionals need the coverage too. Specifically, the coverage protects against and provides for:<\/p>\n This will protect businesses from loses associated with unauthorized access to data.\u00a0This is a big deal if your clients are from the financial industry or any other type of business that involves sensitive information.<\/p>\n In today\u2019s world where nearly every business is \u201cplugged in\u201d in one way or another, there\u2019s an increased risk of such unauthorized access causing either you or your clients significant losses.<\/p>\n All businesses that own or rent a physical location, including IT businesses, need commercial property insurance<\/a>. It will protect your commercial property from losses related to fire, smoke, storms, vandalism, and civil disobedience.<\/p>\n This type of insurance also protects the property of your business that is inside your workspace, including computers, printers, desks, and phones.<\/p>\n General liability insurance<\/a> is purchased by all types of businesses. This protects against expenses you may incur arising from claims of bodily or other physical injury, or property damage. It is often offered as a package along with property insurance. It protects not only for incidents that occur on<\/em> your business site, but at other locations where you normally conduct business.<\/p>\n With this coverage, you can continue business operations confidently while facing a fraudulent (or real) claim of wrongdoing or negligence\u2014a claim<\/a> that could cripple your IT business if you don’t have the coverage.<\/p>\n Most states require businesses that have W2 employees to have workers\u2019 compensation<\/a>. In addition, some states require the coverage for 1099 contractors<\/a>. This will cover your employees\u2019 expenses arising from on-the-job injuries or work-related illnesses.<\/p>\n Such expense could include medical and disability expenses. Some states allow officers, partners, owners, and other principals to decline to\u00a0participate in their own company’s coverage.<\/p>\n Such policies include employees’ liability coverage. This insurance protects a company when an employee claims an employer’s failure to provide a safe workplace or negligence caused his or her injury.<\/p>\n If you run an IT business but still aren\u2019t sure exactly which of these types of insurance you need, contact the business insurance experts here at InsureYourCompany.com. We offer free, 30-minute assessments that can get you started on the right path to protecting your business.<\/p>\n","protected":false},"excerpt":{"rendered":" As an IT professional, imagine an employee of yours makes a mistake that causes a client to lose important data, or that software or a system you designed quits working. Your client may be unable to run his or business, and you could face a lawsuit. These are only two\u00a0examples of why you need\u00a0tech insurance. […]<\/p>\n","protected":false},"author":5,"featured_media":3031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[76,98,90,107,16,87,13],"tags":[241,99,126,260,261,262,189,263,55],"class_list":["post-3030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-insurance","category-cyber-liability","category-general-liability-insurance","category-insurance-policy","category-liability-insurance","category-technology-insurance","category-workers-compensation","tag-commercial-property-insurance","tag-cyber-liability","tag-general-liability-insurance","tag-insurance-for-it-company","tag-it-business","tag-it-company","tag-professional-liability-insurance","tag-tech-insurance","tag-workers-compensation"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\tProfessional Liability Insurance<\/h2>\n
Cyber Liability Insurance<\/h2>\n
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Network Security Liability<\/h2>\n
Commercial Property Insurance<\/h2>\n
General Liability Insurance<\/h2>\n
Workers\u2019 Compensation<\/h2>\n