How Technology Contractors Can Secure General Liability Insurance
As a technology contractor, you have to keep track of a lot of details to keep your business afloat: in addition to finding clients and actually doing your work, you’ve got to keep tabs on invoices, taxes, and insurance. It’s a lot to handle.
Luckily, securing Commercial General Liability Insurance isn’t hard when you know what you’re doing. Follow these steps, and you can have a General Liability Insurance policy in place as soon as tomorrow.
Step 1 for Technology General Liability Insurance: Apply Online
Like most other types of insurance, securing a General Liability policy for your technology business starts with an application. When you work with TechInsurance, you can apply online and get access to top carriers. Obviously, we’re biased, but we think that’s a pretty good starting point.
A few tips to make the online application process easier:
- Leave 15 to 20 minutes to complete the application.
- Have on hand basic information about your business: revenue, square footage of your office space, business address, number of employees, payroll, etc.
- Use the “chat” feature if you’re not sure how to answer a question. Our questions come from our carriers, and sometimes they may seem oddly specific. But we have staff on hand to clear up any confusion.
Step 2 for Technology General Liability Insurance: Work with Your Agent
Once you’ve submitted your application online, you’ll be assigned an agent who will reach out to you to help you choose the coverage that makes the most sense for your business. Our agents are specialists in insuring technology businesses, so you can throw pretty much any coverage question their way.
Some things to ask your agent about:
- Whether bundling your General Liability Insurance with Property Insurance (into a Business Owner’s Policy) makes financial sense.
- Whether installment payment plans are available (especially if you’re on a budget).
- Whether you should consider Errors & Omissions Insurance as well.
- What the policy excludes.
Step 3 for Technology General Liability Insurance: Sign Those Papers
Once you’ve chosen a policy, your agent will send you documents, most likely via email. In order to start coverage, you’ll need to sign on the dotted line and, of course, pay the premium. But as we mentioned above, many policies offer payment plans so that you don’t have to plunk down the entire premium at once.
The technology businesses we serve typically pay between $500 and $900 per year for General Liability Insurance. For more details on the cost of this policy (and on how much other types of small business insurance cost), visit our cost estimates page.
Step 4 for Technology General Liability Insurance: Start Winning those Clients
Okay, so this isn’t technically a step four. Technically, you’ve already got coverage in place at this point, so the hard part’s over. But it’s worth mentioning what you can expect after you go to the trouble of finding a Commercial General Liability Insurance policy for your business.
Now that you have coverage in place, you can advertise yourself as insured when bidding on client contracts. By mentioning your insured status, you communicate that you’re a serious business and that you’ve got the means to weather a legal storm, should one arise. Big clients love that. Get used to it.