Space City, H-town, Bayou City – maybe it’s time Houston adopted another nickname: small business city. Houston consistently ranks as one of the top cities to start and grow a business, and in recent years it's been the top job-creating
economy in the country.
No doubt some of that growth is due to Houston's business friendly climate. But credit also goes to you, the entrepreneurial small-business owner. Now all you need is a small business insurance plan to protect your investment.
Small Business Insurance for IT Companies in Houston
Whether your business is a big data firm working in Baytown or a computer repair shop out in Sugar Land, TechInsurance can customize a small business insurance plan to protect your company by paying for certain unexpected costs. The following insurance
policies can pay for lawsuits, damaged property, workplace injuries, and other budget-breakers:
General Liability Insurance covers many common third-party lawsuits. If clients, customers, or other people not employed by your business sue you for property damage, bodily injury, a damaged reputation, or other personal injuries, GL Insurance can cover
the cost of the lawsuit. Because IT companies are often visiting or working at client offices, this insurance is especially important. If you damage a client computer, General Liability Insurance can cover the lawsuit. It also covers some of the more
basic risks you have as a business owner. For example, if a deliveryman slips on your property and is injured, GL Insurance will cover your legal expenses.
Business Owner's Policies can offer great deals on insurance for IT businesses. BOPs bundle two policies (General Liability and Property Insurance) into one package with lower insurance premiums. This deal is only offered to eligible small businesses,
but our agents will check to make sure you qualify. The Property Insurance included in a BOP can help you rebuild after your commercial property is lost or damaged by theft, certain weather events, and fire. Property Insurance reimburses you with
money to repair or replace property.
Errors and Omissions Insurance (aka “Professional Liability Insurance”) covers your work liabilities. If a client sues you over a data breach, missed deadline, software defect, slow network, or other issue related to the quality of your
work, E&O Insurance can cover the lawsuit – even if the suit is dropped or dismissed. Additionally, E and O Insurance covers third party data breaches – breaches that happen on client computers and networks. Because
breaches are so expensive, E&O data breach coverage is crucial for tech companies. In fact, many clients will require you have an E&O policy before you can sign a contract.
Texas does not require businesses to have Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp). In fact, it's the only state in the country that doesn't have this requirement. However, you are still liable
for Workman's Comp injuries. If an employee gets injured or develops an illness as a result of their work, Texas employers are still responsible for paying for the employee’s medical expenses and lost wages. If you purchase Worker'
Comp (and many Texas companies do), your insurance company pays for these expenses. In the event that an employee rejects these benefits and sues, your coverage pays for the cost of a Workers' Comp lawsuit.
It's important to note that most IT companies don't need Cyber Liability Insurance (also called “Data Breach Insurance” or “Cyber Risk Insurance”). This policy only covers first-party data breaches – breaches
that happen on your own network / devices. However, most IT businesses don't have a significant amount of first-party liability because they don't store much private data on their networks. For this reason, many IT companies only need E&O
Insurance (to cover data breaches on client devices). Which IT businesses need Data Breach Insurance? Business intelligence / big data firms, web hosting companies, and other businesses that store private customer and user data on their network should
invest in Cyber Liability Insurance to help them pay for credit monitoring costs and other aspects of a data breach response.
For a customized quote on IT insurance, call an insurance agent at 1-800-668-7020 or fill out an online insurance application.