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IT Business Insurance for San Antonio, Texas

Projections show that the size of San Antonio's IT industry will grow to $15 billion in the next few years. It's this kind of growth that prompted Forbes Magazine to rank San Antonio as the eleventh best place for business and careers in the United States.

But given its central location, international community, and the incredible success of the San Antonio Spurs, we think Forbes should have ranked this city a little higher. Seriously.

San Antonio Small Business Insurance

As an insurance company founded in Texas, TechInsurance understands how small business owners in the Lone Star State must budget carefully to protect their businesses and keep them growing. Small business insurance helps San Antonio-New Braunfels area companies plan for the future and avoid expenses that could cripple their budgets.

Small business insurance can cover the costs of lawsuits, property damage, fires, data breaches, and other expenses IT companies can't plan for. We most often recommend the following policies to tech businesses:

General Liability Insurance

General Liability Insurance is often required by contracts, leases, and regulations because it covers many basic business liabilities. An IT contractor with GL Insurance is protected from “slip-and-fall” lawsuits (when a customer / client is injured on their property), lawsuits from landlords over rental property damage, and other common disputes. For example, when third parties (people not employed by your IT business) sue you over non-physical injuries (such as slander, libel, and copyright infringement), a General Liability Insurance policy can over the cost of the lawsuit.

Business Owner's Policy

A BOP bundles two fundamental insurance policies into one package: General Liability (see above) and Property Insurance. When you buy these policies together, you actually end up paying less for your coverage. Insurers only sell BOPs to small businesses with relatively low risks. That way, they can offer them lower premiums. A Property Insurance policy helps IT businesses repair and replace computers, furniture, and other property when it is damaged due to a “named peril,” an event that causes property loss. Common named perils include theft, vandalism, fire, and some weather damage.

Errors and Omissions Insurance

Errors and Omissions Insurance (also called Professional Liability Insurance) can pay for a lawsuit when an IT professional is sued over their professional work and responsibilities. E&O typically covers lawsuits over missed deadlines, software errors, poor performance, data breaches on client computers, and other tech liabilities. If a client is unsatisfied with your work for these or other reasons, E&O can pay for lawyers to defend your business and cover the damages (if any) the judge awards to your client.

Workers' Compensation Insurance

This policy pays out benefits to employees who are injured on the job or develop an occupational disease. Unlike most states, Texas doesn't require businesses to purchase Workers' Compensation Insurance (also called Worker's Comp or Workman's Comp), but many opt to purchase this coverage anyway. That's because businesses can still be sued if their employees are injured on the job. Employers are still responsible for covering an employee's medical expenses after a Workers' Comp injury, even if they don’t carry the insurance.

Cyber Liability Insurance

Cyber security is an important part of San Antonio's business community. The city's long standing relationship with the military, military contractors, and medical research centers have meant that for years IT businesses in San Antonio have had to meet higher security standards. (And it's why San Antonio is home to the Cyber Innovation Technology & Research Consortium.) Cyber Liability Insurance (also called “Data Breach Insurance” or “Cyber Risk Insurance”) is important for businesses that store private data on their networks. Many IT companies don't keep much private data on their servers and won't need CL Insurance. (E&O Insurance can give you all the client data breach protection you need.) But big data analysts, web hosting companies, and medical IT contractors might need Data Breach Insurance because of the amount of consumer data on their devices. This coverage pays for your response to a data breach. Covered costs include those related to credit monitoring services for customers affected by the breach, extra personnel, data breach investigations, efforts to contact customers, and more.

For a free business insurance quote, contact a TechInsurance agent 1-800-668-7020 or fill out our streamlined online insurance application.

Snapshot of Small IT Businesses in San Antonio and New Braunfels

  • 76% of San Antonio and New Braunfels IT businesses are run from home.
  • 28% of business owners are responsible for client data as part of their products and services.
  • An average business makes $119,418 in annual revenue.