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Office Insurance: IT Insurance for Your Small Business

TechInsurance can get your company the IT business insurance it needs to cover its liabilities, sign important contracts, and meet state requirements.

A strong IT business insurance portfolio offers protection from:

  • General liabilities (customer injuries, damaged customer property, etc.)
  • Property damage
  • Cyber liabilities / data security
  • Professional liabilities
  • Workplace injuries
  • Auto liabilities

Office Liability Insurance for Small IT Firms: General Liabiltiy

General Liability Insurance is a type of office insurance that pays for many legal expenses when a third party files a lawsuit regarding:

  • Property damage
  • Physical Injury
  • Libel / slander / advertising injury

IT businesses frequently work on their clients' networks and computers. If something goes wrong and you damage your customers' property, General Liability Insurance can cover the cost of a lawsuit.

This office insurance policy also covers many common slip-and-fall scenarios. When a prospective client is visiting your office and trips over a network cable, General Liability Insurance can cover a lawsuit over physical injury and medical expenses.

IT Office Insurance to Protect your Equipment

Business Property Insurance makes sure you don't miss a beat when your property is lost or damaged by fires, thefts/burglary, weather damage, or other covered claims.

If your office is broken into, you may assume that your landlord's insurance will cover your losses, but that's not true. You'll need your own office insurance to cover your property.

Property Insurance can pay you to replace your lost or damaged computers, printers, electronics, office space, supplies, inventory, and other equipment.

BOPs Combine Office Liability and Property Insurance Policies

You might be able to get your Property Insurance and General Liability Insurance for less by purchasing a Business Owner's Policy. These policies are insurance packages for small IT businesses and can offer you the same coverage for less than they'd cost purchased separately. By buying two insurance policies at once, you can save money on your premiums.

Cyber Liability Insurance: Office Insurance for Cyber Threats and Liabilities

Cyber Liability Insurance is a policy that can cover the unique liabilities of IT businesses that install or service their clients' networks. Because your business is responsible for its customers' computers, networks, VPNs, and other technology, you can be liable when their networks are hacked.

The Third-Party Coverage in Cyber Liability Insurance (also called Data Breach Insurance or Cyber Risk Insurance) is especially important for businesses like yours. When your customers are hacked, they may sue you for the money they lose and the harm done to their business's reputation. Make sure your business insurance covers your cyber liability.

Office Insurance to Protect Your Professional Liabilities

Eventually, all businesses will have some dispute with their clients about the quality of their goods and services. When they do, Errors and Omissions insurance can cover the costs of a lawsuit.

Being an IT professional, you know it can be hard to communicate with clients about technology. No matter how many times you explain it, some customers may still be confused about their network security, computers, or other services you offer. If a miscommunication leads to customers getting upset or being dissatisfied with the product they purchased, you'll want insurance to protect you.

E&O coverage protects your professional liabilities. This policy pays for lawsuits that allege your business:

  • Made mistakes
  • Failed to deliver the promised goods and services
  • Was negligent

Office Insurance to Protect Your Injured Workers and Your Liabilities

All businesses have liabilities regarding employee injuries. When an employee is hurt on the job, businesses are responsible for paying their medical expenses and even their wages while during recovery.

Workers' Compensation Insurance can pay for these costs as well as your legal expenses from any lawsuit an employee brings related to the injury.

You'll probably have to purchase Workers' Comp in order to fulfill your legal requirements. Almost every state specifies that businesses purchase this coverage for their employees.

Proof of Office Insurance: Certificate of Liability Insurance

One important insurance tool is your Certificate of Liability Insurance (COI). This sheet of paper (or digital file) gives a quick one-page summary of an office insurance policy.

You might have to show this certificate when you sign certain contracts. COIs often come up when you are hired as a subcontractor. The main contractor will want to know what your liability coverage is and may need to file a copy of your COI with their insurer.

Similarly, you may need to ask to see your customers', vendors', or contractors' / subcontractors' Certificates of Liability Insurance.

Protect Your Risks Behind The Wheel

Don't make the mistake of assuming your Personal Auto Insurance covers you when you're behind the wheel for work.

If your business requires you or your employees to drive, your Personal Auto Insurance might not cover any accidents that happen.

Commercial Auto Insurance (for vehicles owned by your company) and Hired and Non-Owned Auto Insurance (for vehicles owned by you, your employees, or a rental company) can protect these liabilities.

In addition to purchasing this insurance, you should consider setting ground rules for your employees' driving. Make rules against texting and driving or other "multitasking" behind the wheel.

Manage Your Liabilities with Contracts

Working with contracts is a good way to prevent some lawsuits and reduce your overall liability risk. Many startup and small IT businesses can't afford lawyers for each and every contract.

To help you out, we've supplied a few sample contracts your business can use as templates for its Non-Disclosure Agreements, Terms of Use, and Privacy Policy.

Got Questions about Office Insurance? We've Got Answers.

If you have any questions about which types of office insurance make sense for your business, don't hesitate to contact an agent. Our agents specialize in IT liabilities, so you'll be talking with someone who knows the specific demands of your industry.

You can also check out our Frequently Asked Questions page to find answers about cost, coverage, and other IT business insurance issues.

Tech Insurance: Fast, Online Office Insurance When You Need It

Whether you need office insurance to meet the demands of a specific contract, meet government regulations, or simply protect your business from the risks it faces, TechInsurance can provide you with multiple quotes within minutes. For free office insurance quotes today, fill out our free online application today!