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IT Business Insurance for Nashville, TN

Though it may be known for its music, Nashville seems to have a bit of everything within its borders. Want a trendy dive bar? East Nashville has plenty. Prefer a more energetic crowd? You can go to Tootsie’s Orchid Lounge or any of the other Honky Tonk downtown venues. You can see large national acts at the Bridgestone Arena or an indie band at Exit/In. Depending on your mood, you can get the full foodie experience on 12th Ave, a casual basket of chicken and a beer at McDougal’s, or go traditional with a meat-and-three. With so many people flocking to the city from all over the country to make their name in music or business, Nashville is a land of opportunity.

Small Business Insurance for Tech Companies in Nashville, Davidson, Franklin, and Murfreesboro 

Nashville is also a land of opportunity for IT and tech entrepreneurs. In fact, Forbes ranked Nashville among the best cities in the entire country for tech employment (read the article here: “The Cities Creating the Most Technology Jobs”). Resources such as the Nashville Entrepreneur Center and Jumpstart Foundry help budding tech startups develop and grow.

But with growth comes risk. In order to make your Nashville-based tech company as successful as it can be, you must invest in the right kinds of IT business insurance. The following policies help protect your business from accidents, lawsuits, and other sudden hits:

General Liability Insurance

While most accidents around the office are minor, some can leave your guests more banged up than a Predators defenseman. When a non-employee gets injured on your work premises, it only takes a little bad luck for that injury to expose you to high medical costs and legal liabilities. General Liability Insurance can protect your finances by covering your legal defense fees and settlements or judgments. GL also protects your IT business against claims of property damage and trademark or copyright infringement.

Business Owner’s Policy

Business Owner’s Policies (BOPs) bundle together two fundamental types of small business insurance: GL Insurance and Commercial Property Insurance. By getting both coverages at the same time through a BOP, you secure a lower premium than if you bought each policy separately. Property Insurance is particularly important, as it insures your office and its contents against loss or damage because of fire, windstorms, power surges, and theft. A BOP can also include Business Interruption Insurance, which comes in handy when a property event shuts down your business temporarily. The policy pays your lost revenue while you’re waiting for repairs.

Errors and Omissions Insurance

What happens if you make a testing error or develop a buggy product that causes an end-user to suffer financial losses? What happens if you’re wrongly accused of making this kind of professional error? You could face an expensive lawsuit – and even average-length litigation costs tens of thousands of dollars. E & O Insurance (also called Professional Liability Insurance) covers your legal expenses if a disgruntled beneficiary of your work accuses you of negligence or incompetence, regardless of the claim’s merit.

Workers’ Compensation Insurance

Tennessee’s laws require most employers to carry a Workman’s Compensation Insurance policy. Workers’ Comp is designed to protect your workers when they suffer an accidental injury on the job or develop an occupational injury or illness over time (e.g., carpal tunnel syndrome). The policy covers a range of related expenses: your employee’s medical costs, your employee’s lost income, disability or rehabilitation costs, and your legal costs if you are sued for the incident.

Cyber Liability Insurance

No matter how good the firewall or network security protocol, a determined hacker can still invade your cyber space – even a savvy tech company like yours. In fact, small businesses are much more likely to be targeted by cyber criminals than their larger counterparts. If your networked computers contain any sensitive third-party data (e.g., credit card information, customers’ personal data, etc.), you’re liable when you get hacked. A first-party Cyber Liability Insurance policy compensates you for the cost of notifying victimized third parties, diagnosing and repairing security breaches, and funding certain public-relations measures to rehabilitate your reputation in the market.

Protect your Nashville-based IT business right now with the appropriate small business insurance. Call 1-800-668-7020 to speak with a TechInsurance agent, or fill out an online insurance application to receive insurance quotes via email.

Snapshot of Small IT Business Owners in Nashville, Davidson, Franklin, and Murfreesboro  

  • 82% of Nashville-based IT professionals work out of their home.
  • 57% of tech businesses in Nashville, Davidson, Murfreesboro, and Franklin are responsible for their clients’ data as part of their services.
  • Nashville-based IT businesses make a median of $100,000 in revenue each year.