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The coverages and limits that follow are for illustration only and are not recommendations. We'll be pleased to provide a free quote for your specific coverage needs.
$0 - $150,000 Annual Revenue
This example is based on an individual or small company with up to $150,000 annual revenue, providing programming or Web design services. Premium will vary based on your actual revenue, your state, and the type of services you provide.
The above Workers Compensation premium is auditable. Following the expiration of the policy term, the insurance company may contact you requesting a report of the actual payroll during the policy period. If your actual payroll amounts are different from the estimate provided on your application, it may result in an additional premium charge or a premium credit. Also it is important to notify the carrier or our agency when employees are hired during the year that reside or will be working for an extended period of time outside of your company's domiciled State.
The Errors and Omissions coverage and premium quoted above does NOT include unauthorized access and malicious code coverage. This may be important if you provide security services for your clients including fire wall and anti-virus application services. The additional premium is typically around 5%.
The Errors and Omissions coverage and premium quoted above does NOT include intellectual property liability coverage. This is sometimes referred to broadly as intellectual property liability and cyber liability coverage and is most often required by software developers, Web Developers, and ASPs, etc. If you would like more information about protection against these risks, please contact us.
In most cases the insurance company will bill you directly for any General Liability, Worker's Compensation, Umbrella, and Fidelity policies purchased. They will invoice you four to six weeks after coverage is started. The Errors and Omissions policy can either be paid in full prior to starting coverage or we can arrange financing through a premium finance company. They require 30% down and typically charge around 15% interest.
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