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IT Business Insurance for Fresno

Your home in Fresno allows you to enjoy all that California has to offer. The agricultural abundance of the Central Valley is right outside your door, at least four national parks (including Yosemite) are only about an hour away, and both Los Angeles and the Bay Area are only a little bit further than that. Plus, your rent or mortgage is certainly cheaper than it would be in either of those cities. It makes sense, then, that you’ve decided to base your tech company in San Joaquin Valley rather than Silicon Valley.

Small Business Insurance for Tech Companies in Fresno

Tech communities outside of Seattle or San Jose focus on their unique, natural advantages, and Fresno is no exception. California’s ongoing water and energy concerns prompted the founding of the Fresno State Water, Energy and Technology (WET) Center. Plus, the broad-based incubator Bitwise (which attracted outside collaborators from as far away as France) has helped enterprising tech entrepreneurs like you transfer their ideas into marketable technologies.

While growth and opportunity are central to your business, don’t ignore the importance of risk. Accidents, lawsuits, and data security breaches can sap all of your capital. A combination of the following IT business insurance polices can prevent that from happening:

General Liability Insurance

When non-employees are injured on your commercial property, the incident becomes your legal responsibility. General Liability Insurance makes sure the litigation costs don’t come out of your pocket (e.g., lawyer’s fees, settlements, or judgments) when an injured party sues for their medical expenses. GL Insurance also buffers you from the cost of trademark or copyright infringement lawsuits.

Business Owner’s Policy

A Business Owner’s Policy (BOP) bundles together two important coverages (GL Insurance and Commercial Property Insurance) at a reduced premium. Just like your Residential Property Insurance protects your house, Commercial Property Insurance protects your commercial office space and gear against loss or damage by fire, windstorms, or property crime. A BOP can also include Business Interruption Insurance, which covers your lost profits if an insured property event temporarily shuts down your business.

Errors and Omissions Insurance

E&O Insurance (also called Professional Liability Insurance) protects your business from claims of shoddy craftsmanship, coding error, insufficient testing, botched installation, or other forms of negligence. If clients sue you for a data breach or financial loss allegedly caused by your work, E & O Insurance pays your lawyer’s fees, court costs, and settlement or judgment expenses. E and O Insurance also helps manage the costs associated with a data breach on your clients’ networks or devices (a coverage called third-party Cyber Liability Insurance).

Workers’ Compensation Insurance

California law requires all employers to carry Workman’s Comp Insurance. Workers’ Comp protects your employees if they develop occupational injuries (e.g., carpal tunnel syndrome). Your Workers’ Comp Insurance pays their medical bills, the cost of rehabilitation, disability benefits (if needed), and lost wages. The policy also helps you by paying for your legal fees if a dispute over the injury arises.

Cyber Liability Insurance

The threat of a network security breach is constant – and small businesses are targeted much more often than large corporations. In fact, roughly 70 percent of all cyber attacks involve small or micro businesses. A first-party Cyber Liability Insurance policy protects your company if sensitive third-party information is stolen from your servers or network. Expenses associated with such an event can escalate quickly. Luckily, your Cyber Liability policy will cover the cost of notifying affected parties, diagnosing what went wrong and how, fixing to your firewall or other security measures, and funding public-relations efforts to repair your tech business’s reputation.

Protect the investments you’ve made in your Fresno-based tech firm. Call a TechInsurance agent at 1-800-668-7020 to discuss your risks and the IT business insurance policies that can protect you. If you’d rather fill out an online insurance application, we can send insurance quotes right to your email inbox.

Snapshot of Small IT Business Owners in Fresno

  • 75% of Fresno-based IT professionals work out of their home.
  • 67% of Fresno tech businesses are responsible for their clients’ data as part of their services.
  • Fresno-based IT businesses clear a median of $160,000 a year in revenue.