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IT Business Insurance for Kansas City

As a resident of Kansas City, you’re well aware that KCMO is criminally underrated. For example, think about barbeque: the under-informed on the coasts or in the South might mention Texas, or Memphis, or the Carolinas, but we’re willing to bet none of them have sampled the smoky, dry-rubbed goodness at Oklahoma Joe’s or LC’s. And few have experienced the crushing crowd noise at Arrowhead on a Sunday or attended a jam session at the Foundation at 3:00 a.m. on a Friday night.

As a member of Kansas City’s tech community, you’re more aware than most that KC’s tech sector is booming. Among major metro areas, Kansas City had the third-largest increase in high-tech startup density since 1990. For information and communications tech startups, KC’s growth rate ranks first.

With opportunity comes risk, however. If you’re not protected with the appropriate small business insurance policies, you’re risking the continued health and survival of your business with every new client serviced or product launched.

Small Business Insurance for Tech Companies in KCMO or KCK

Even when you’re good at what you do, there are factors outside of your control that directly impact your success. George Brett is rightly considered one of the greatest hitters in baseball, ever – and yet 70 percent of the time, he didn’t get a hit. For Brett, that meant a trip back to the dugout. But for your business, a curveball can lead to tens of thousands in unexpected costs that drain your cash reserves or force you to close up shop. The following types of insurance coverage can prevent that from happening:

General Liability Insurance

General Liability Insurance, often required by your lease or other contracts, covers you when guest or client gets injured at your workplace. All it takes is one delivery guy to trip, fall, and hit his head on the corner of a desk or table for you to be in legal trouble. GL Insurance also covers damage you might cause to third-party property, including intellectual property (i.e., trademarks and copyrights).

Business Owner’s Policy

As a small IT company, you might qualify for a BOP, a policy that combines GL Insurance with Commercial Property Insurance at a lower rate. Commercial Property Insurance protects your office building, furniture, and equipment if they are damaged by certain covered events (e.g., fire, property crimes, and certain types of weather damage). A BOP can also include Business Interruption Insurance, which covers lost profits and other incidental costs when a property claim shuts down your tech company for a spell.

Errors and Omissions Insurance

E&O Insurance (also called Professional Liability Insurance) protects you when a client sues your tech business for allegedly providing negligent work. The main benefit of E and O Insurance is that it includes third-party Cyber Liability coverage, which protects you if a client or end-user’s sensitive information gets hacked. You’re well aware that software sometimes glitches, hardware sometimes fries, and security protocols are sometimes breached. E&O Insurance covers the costs of defending yourself against a claim that such things were your fault.

Workers’ Compensation Insurance

Both Kansas and Missouri require that most employers carry Workers’ Comp Insurance (also called Workman’s Comp). In Missouri, you must have Workers’ Comp if you have five or more employees. In Kansas, you must provide occupational injury benefits if you have more than $20,000 in non-family annual payroll. If one of your employees is injured on the job (e.g., they develop carpal tunnel), Workers’ Compensation Insurance covers your their medical costs and lost wages. Because your business may involve work in both Missouri and Kansas, you should talk to one of our insurance agents to sort out your legal obligations.

Cyber Liability Insurance

Depending on the nature of your IT business, the third-party Cyber Liability Insurance included in an E&O policy might be sufficient for you. But if you keep client or other third-party data on your network, you might need additional coverage. First-party Cyber Liability Insurance (aka Cyber Risk Insurance or Data Breach Insurance) pays for an investigation into your network’s security breach, covers the costs of patching security holes, and helps pay for certain PR measures to rehabilitate your business after a breach.

Call one of our insurance agents at 1-800-668-7020 to work with specialists in the IT insurance industry. We'll send you free customized insurance quotes. You can also submit an online insurance application, and we'll email you free quotes for E&O Insurance or any other policies that catch your eye.

Snapshot of Small IT Business Owners in Kansas City

  • 69% of Kansas City-based IT professionals work out of their home.
  • Kansas City-based IT businesses make a median of $100,000 in revenue each year.
  • Most Kansas City tech businesses have only one employee.