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IT Business Insurance for New Orleans, Louisiana

In a town known for its eats and drinks, it’s no wonder the Big Easy boasts a place like Capdeville, where you can have a whiskey and a duck confit sandwich while you mingle with like-minded tech entrepreneurs. Even the more traditional tech events like Launch Pad seem to have a little more down-home fun in NOLA than anywhere else.

Following your passion as a tech entrepreneur is inherently fun, too – even with all the hard work and stress. With the right cocktail of small business insurance policies, you can make sure that an unexpected accident or data breach doesn’t prevent you from continuing to have fun while growing your tech business.

Small Business Insurance for Tech Companies in the New Orleans, Metairie, and Kenner Area

As a denizen of NOLA, Metairie, or Kenner, you know a thing or two about unexpected disasters. Whether you’re a native or a transplant to the area, you know the waves of calamity that have hit New Orleans over the past few years: Katrina, Gustav, Isaac, the BP oil spill. The fact is we live in an uncontrollable world.

Though not as devastating as a hurricane, there are plenty of little contingencies that could undermine your tech startup’s stability. Accidents, lawsuits, injured employees, or network security breaches can all cost your business tens of thousands of dollars. Investing in the following small business insurance coverage can offer your business the financial security it needs to weather the unpredictable:

General Liability Insurance

General Liability Insurance protects your business from certain third-party lawsuits, such as client suffering a bodily injury at your workplace. While the risk of injury may seem low at a tech company like yours, it only takes one unfortunate trip on unruly cords to subject your business to uncapped liabilities and lawyer’s fees. The policy pays not only your attorney’s bills but also settlement or judgment expenses (up to your policy’s stated limits). Additionally, GL Insurance helps pay for lawsuits alleging that your company damaged third-party property (i.e., infringed on trademarks or copyrights).

Business Owner’s Policy

A Business Owner’s Policy (BOP) bundles GL Insurance and Commercial Property Insurance together at a reduced rate. Because your technical hardware is your lifeblood, having Commercial Property Insurance is essential. It pays to repair damage to your building, furniture, computers, servers, and other equipment in case of fire damage, certain weather damage, or loss caused by theft. A BOP can also include Business Interruption Insurance, which keeps your business solvent if it is temporarily shut down by a property event.

Errors and Omissions Insurance

Although we live in a fairly tech literate world, there are still those clients and end users who don’t understand how systems and software work. When something goes wrong, it might be your technological product or service that gets blamed. E&O Insurance (also called Professional Liability Insurance) is for just such occasions. It steps in when someone alleges they suffered a financial loss because of some mistake you made or a design flaw in your product. E&O Insurance covers your legal defense and settlement or judgment costs. E&O coverage also includes third-party Cyber Liability Insurance, which protects you and your clients if their network falls prey to identity theft or other cyber breaches.

Workers’ Compensation Insurance

In Louisiana, the law requires most employers to carry Workman’s Comp Insurance. Workers’ Comp is designed to protect you and your employees if they get injured while carrying out their work duties. From accidents around the office to repetitive-motion injuries (such as carpal tunnel syndrome), Workers’ Comp covers your employee’s medical bills, rehabilitation costs, and lost wages. It can also help pay for your legal costs if your employee sues. To learn more about your Workers’ Comp obligations, check out our guide “Louisiana Workers’ Compensation Law Review.”

Cyber Liability Insurance

Your clients are not the only ones vulnerable to data breaches and hackers. While your E&O policy covers cyber attacks on their networks and devices, it doesn’t cover your own computers. If you keep sensitive third-party information (such as financial data or personal information) on your networked computers, first-party Cyber Liability Insurance might make sense for your business. If your company gets hacked, the policy will cover an investigation into your security protocols, pay to repair the holes in your security system, and help you rehabilitate your business’s reputation after a breach.

Don’t wait to protect your New Orleans- or Kenner-based tech company. Contact a TechInsurance agent now at 1-800-668-7020, or submit an online insurance application to receive IT business insurance quotes tailored to the specific needs of your tech business.

Snapshot of Small IT Business Owners in New Orleans, Kenner, and Metairie

  • 70% of New Orleans-based IT professionals work out of their home.
  • New Orleans-based IT businesses make a median of $85,000 in revenue each year.
  • Most New Orleans, Kenner, and Metairie tech businesses have only one employee.