It's true that Pennsylvania is right up there with California, Florida, and New York for states with the highest gross domestic product (GDP) – in fact, it's ranked sixth in the nation. This makes Pennsylvania a great place to earn contracts from businesses seeking assistance with data administration, IT consulting, and Wi-Fi capabilities. From Allentown to Philadelphia and Harrisburg to Pittsburgh, Pennsylvania is booming with cities full of potential customers.
But as your IT business continues to grow, so will your need to ensure that your income is protected from the risks you face. From third-party lawsuits to potential wrongful termination claims, you need to make sure your IT business is protected no matter what happens. And that's where business insurance comes in.
Pennsylvania has notoriously strict Workers' Compensation Laws. This means that if you have part-time employees, seasonal employees, or any employees at all, you need to carry some form of Workers' Compensation. But why stop there? There are plenty of essential policies for your IT business to carry. In some cases, Workers' Comp is the least of your worries. Find additional information below on Property Insurance, Business Owner's Policies, Professional Liability (Errors & Omissions) Insurance, and more.
Your IT business may not be the most dangerous workplace in the country, but you still need to be covered. Carrying Workers' Compensation Insurance provides both you and your employees peace of mind when it comes to workplace injuries. Just as your employees want to make sure their livelihood is secure should they fall in harm's way, you, too, want to rest easy knowing you won't have to dip into your own pocketbook to pay for their hospital bills and wages while they recover.
Even in an IT office setting, employees could fall victim to any one of the following injuries...
Don't spend another day out of compliance with Pennsylvania state laws – get in touch with a TechInsurance agent right away so we can get you competitive quotes in less than 24 hours.
The more successful your business becomes, the more likely you are to be the target of even a frivolous lawsuit. With multiple contracts comes the risk that you or an employee may commit an error or oversight that causes a client to lose substantial amounts of money based on a service you provided. Should this occur, they may take you to court for any profit they may have lost. That's where it helps to have Errors and Omissions Insurance.
Errors and Omissions Insurance protects your IT business from having to pay out of pocket to combat litigation resulting in negligence for contracted jobs. Without it, you'll have to use company funds to pay for...
Remember: while these lawsuits may be uncommon, all it takes is a single suit to put your IT firm out of business.
For IT businesses fearful of taking on costly property damage or third-party lawsuits, there's a package that offers cost-effective protection against both – a Business Owner's Policy (or BOP).
A BOP can also include Business Interruption Insurance, which helps pay for expenses you're forced to pay despite being shut down by a covered property event. This includes wages for skilled employees you don't want to lose, taxes, and loan payments.
No IT business should operate without protection from third-party lawsuits and potential property damage. Give us a call today to see if your business qualifies for a Business Owner's Policy.
Employment Practices Liability Insurance (or EPLI) protects your IT business from employee claims that they experienced some form of discrimination; were wrongfully terminated; or were discriminated against based on their race, gender, religion, or sexual orientation. It protects against claims from both current and former employees by providing the funds you need to combat costly lawsuits. The following suits are covered by EPLI...
The more your IT business grows, the greater your potential to take on an EPLI claim. Don't let your income be negatively affected – get in touch with a TechInsurance rep today for more information.