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For the past decade, Arlington has quietly been one of the best places to be a tech innovator. Thanks to the efforts of Arlington’s Chamber of Commerce, Arlington was host to the World’s Best Technologies Innovation Marketplace and has benefited from an unprecedented program of technology transfers between the federal government and private corporations. Those federal dollars also founded the University of Texas-Arlington Technology Incubator (now the Center for Innovation at Arlington), which helped UT-Arlington become the top university in America for tech startups at its level of research funding. That’s not to mention the resources available in nearby Dallas and Fort Worth, plus efforts state-wide to make Texas a tech Mecca.

All of that government money can surely help the Arlington tech community (and your business in particular), but the success of your small tech company mostly resides with you: your ingenuity, hard work, and attention to detail. One such detail is adequately protecting your business investments with small business insurance.

Small Business Insurance for Tech Companies in Arlington, Dallas, and Fort Worth

If you’re a Cowboys fan, you’re well acquainted with the Romocoaster. Despite being one of the best quarterbacks in the NFL most of the time, there are always those one or two games a season where Tony throws a fateful pick at the end of a close game and sabotages the whole season, crushing Cowboy dreams inside and outside of the glorious AT&T Stadium.

Luckily, you can protect your tech business from the same kind of rollercoaster ride with a combination of small business insurance policies that insulate your pocketbook from gut-punching losses. For a small tech business like yours, we recommend the following policies:

General Liability Insurance

If you own or rent an office or workspace, you need General Liability Insurance (your commercial lease may even require it). GL Insurance covers losses caused by third-party bodily injuries on your property. For example, if a client trips and falls in your office, GL Insurance pays for the injured party’s medical costs and covers your legal expenditures. If your tech wheelhouse is content creation or hosting, GL Insurance also covers your legal costs if you get sued for trademark or copyright infringement.

Business Owner’s Policy

Business Owner’s Policies (BOPs) are available to certain small businesses that qualify. A BOP bundles together Commercial Property Insurance and GL Insurance to cover many of the basic risks inherent in running a business. If your building or its contents are damaged by fire, storms, lightning, wind, vandalism, or theft, Property Insurance covers the cost of repairs and replacements. If your office suffers enough damage to close down your business for a while, Business Interruption Insurance (a coverage you can include in a BOP) compensates you for lost profits.


Errors and Omissions Insurance

E&O Insurance (also called Professional Liability Insurance) steps in when a third party claims your business provided insufficient service or defective products. Whether you made a mistake or not, a lawsuit by a disgruntled client or end user can cost you thousands of dollars – enough to strain any small business. If your work involves a client’s network or your product involves cloud-based technology, know that E and O coverage also provides protection if your client’s information gets hacked.

Workers' Compensation Insurance

If you have employees, you should consider carrying Workman’s Comp Insurance. Texas law gives you the option in this regard: you can purchase a Workers’ Comp policy through a private insurer or you can choose to wing it and not carry any insurance. The latter option is risky, as you will still be liable for your employees’ occupational injuries. A Workman’s Comp policy can pay the employee’s medical costs and lost income – a cost that will come out of your pocket if you don’t have coverage.

Cyber Liability Insurance

If you store sensitive third-party information on your network, you are susceptible to data breaches. A first-party Cyber Liability Insurance policy protects you if a hacker breaches your security protocols and steals client or customer information. Cyber Liability Insurance covers the cost of notifying affected third parties, controlling the damage a data breach can have on your reputation, and repairing the holes in your security setup.

A TechInsurance agent can help you figure out the most cost-effective way to protect your Arlington-based IT business. Call 1-800-668-7020 to speak with an agent or fill out an online insurance application if you’d rather receive IT business insurance quotes and information via email.

Snapshot of Small IT Business Owners in Arlington, Fort Worth, and Dallas

  • 77% of Arlington-based IT professionals work out of their home.
  • 24% of tech businesses in Arlington, Fort Worth, and Dallas are responsible for their clients’ data as part of their services.
  • Arlington-based IT businesses make a median of $93,500 in revenue each year.