M-F 8:00AM TO 5:30PM CST
Better coverage. Better price.
Don't Risk IT
When Do I Need to Call My Technology Insurance Company?

When Do I Need to Call My Technology Insurance Company?

Maximize the benefit your technology insurance compay offers your business by knowing when to call to report an incident.

Friday, January 10, 2014/Categories: business-liability-insurance

If you own a small technology company and you've invested in business insurance to protect you from the various threats you face, you're well on your way to keeping your assets safe and your practice strong even when unexpected events throw things off course.

Before you kick back your heels and completely shut off your worry meter, though, be sure you understand when you need to call your technology insurance company to ensure that the coverage you've purchased protects you to its fullest capability. Also read "Are You Really Covered? 5 Questions to Ask Your Technology Insurance Company."

When It's Time to Call the Technology Insurance Company

When dealing with any kind of insurance, a good rule of thumb to follow is to play it safe. For business owners, that means contacting your insurance provider as soon as an incident that could lead to a claim happens - regardless of whether or not you think an actual claim will result.

Contacting your insurance provider as soon as possible after claim-triggering incidents is essential for a number of reasons:

  1. To let your insurance provider prepare. The more information an insurance company has about the state of its accounts, the better. If an incident does lead to a claim, your provider will be better able to expedite the process of preparing your defense if it has adequate forewarning.
  2. To help you report the details accurately. If an event leads to a lawsuit several weeks or months down the road, there's a good chance you won't remember the specifics of the situation. Reporting an incident immediately to your insurance provider, on the other hand, forces you to document everything that happened, which puts you in a better position to defend yourself should the event lead to a lawsuit.
  3. To minimize chance of rejection of coverage. Early reporting means that you likely have both thorough documentation and a clear record of an incident occurring, both of which improve your odds of being covered by your insurance provider. The more detail you're able to offer about an event, the more likely you are to receive timely and complete coverage.

What Incidents Should Trigger Contact with the Technology Insurance Company?

Hopefully you purchased insurance policies based on the risks your business faces. It's time to contact your technology insurance provider whenever an incident occurs that could potentially trigger a lawsuit that one of your policies would cover.

For example, if a client says your work caused a financial loss, you should report it to your insurance provider in case that client decides to file an Errors & Omissions lawsuit.

Writtten by - check her out at or Twitter

The Small Business
Insurance Leader
800.688.1984 | 8 am - 5:30 pm CST | M-F
Customer Rating 4.9 out of 5
Read Customer Reviews


The Small Business Insurance Leader