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IT Business Insurance for Pittsburgh, PA

Anyone who has lived in or visited Pittsburgh can fully appreciate what a well-kept secret the city really is. When most people think of Pittsburgh, they probably think of the city’s hard-nosed sports teams (the Steelers, Penguins, and Pirates) or maybe the steel industry itself. Perhaps they think of the musty Gotham from Christopher Nolan’s “Batman Begins” (filmed in Pittsburgh) or the unique way native Pittsburghers talk. But you know that Pittsburgh is a beautiful land of rivers, bridges, urban stairways, parkland, broad vistas (especially atop Mount Washington), and a diverse arts and food scene.

You also know Pittsburgh as a great place to run your tech business.

Small Business Insurance for Tech Companies in Pittsburgh

Pittsburgh has been a Mecca of tech innovation since the 1980s, when Carnegie Mellon and the University of Pittsburgh helped attract research funding and developed world-class programs in robotics and computer sciences. And it’s just getting better: over the past half-decade, Pittsburgh tech companies large and small attracted over $1.3 billion in investments from venture capitalists, angel funding, and economic development initiatives.

With such community support, your IT business is in a great position to succeed. But success can be derailed if you’re not careful: lawsuits, accidents, data breaches, and other unexpected pitfalls can saddle you with debt – unless you have adequate insurance. Below are five types of small business insurance coverages than can protect the investments you’ve made in your tech business:

General Liability Insurance

General Liability Insurance is a must-have for any type of small business. Whatever kind of office or workspace you have, you host various kinds of guests: potential investors, clients, consultants, and deliverymen. If one of those guests trips over a power strip and hits their head on a table, you’ll be liable for their injury. GL Insurance covers the injured party’s medical costs as well as your legal defense fees. And if your tech company is in the business of hosting or creating content, GL Insurance covers the cost of defending against a claim of trademark or copyright infringement.

Business Owner’s Policy

As a small tech business, you might qualify for a Business Owner’s Policy (BOP), which bundles GL Insurance and Commercial Property Insurance at a reduced rate. Whether you rent or own your office space, Commercial Property Insurance protects your workspace and equipment against loss or damage caused by fires, windstorms, or property crimes (e.g., vandalism or burglary). If the damage is bad enough to temporarily shut down your company, a BOP that includes Business Interruption Insurance will cover your lost profits and help raft you through the standstill.

Errors and Omissions Insurance

A lawsuit claiming that you did shoddy work or designed a defective, glitchy product can mire your small tech company in mounting legal costs, regardless of whether you’re at fault. E&O Insurance (also called Professional Liability Insurance) keeps those costs from coming out of your pocket while you focus on growing your IT business. E and O Insurance also includes third-party Cyber Liability coverage, which covers legal costs when a client claims you’re responsible for a their data breach.

Workers’ Compensation Insurance

Pennsylvania law requires Pittsburgh employers of any size to insure their employees with Workman’s Comp Insurance. This includes seasonal, temporary, and part-time workers. Workers’ Comp pays the medical bills and lost wages of an employee who develops an injury on the job. If your business winds up in a lawsuit over their injury, a Workers’ Comp policy also covers your legal costs. An insurance agent can help you figure out your legal obligations and set you up with a policy that meets those requirements.

Cyber Liability Insurance

A first-party Cyber Liability Insurance policy can supplement the protections provided by your E & O Insurance. This policy covers the financial fallout caused by data breaches on your own computers, which can be considerable when you store sensitive or financial information on your servers. Your coverage pays for the cost of notifying victimized third parties, conducting an investigation into the breach, fixing the holes in your security protocols, and funding a PR campaign to restore your reputation.

Just like Ben Roethlisberger, your Pittsburgh-based IT company needs proper protection. Call a TechInsurance agent at 1-800-668-7020 to receive insurance quotes tailored to your business. If you’d rather receive your business insurance quotes by email, feel free to fill out an online insurance application.

Snapshot of Small IT Business Owners in Pittsburgh

  • 76% of Pittsburgh-based IT professionals work out of their home.
  • 29% of Pittsburgh tech businesses are responsible for their clients’ data as part of their services.
  • Pittsburgh-based IT businesses make a median of $100,000 in revenue each year.