- If your Delaware-based IT business services clients in adjacent states, it's important to inform your workers' comp insurance carrier. If you don't report payroll in the states where your employees are working, those employees may not be covered.
- Before Delaware's cyclone season begins, check your insurance policies to ensure that flood or water damage is covered. If your business property policy doesn't include such coverage—and many don't—you may need to purchase it separately. If you're not sure what your policy covers, ask your TechInsurance agent for a free policy review.
- Improving safety can help keep your workers' comp insurance premiums low. Delaware's Office of Safety and Health Consultation provides free on-site surveys to help small businesses identify potential hazards, improve safety management systems and comply with federal OSHA regulations.
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Thanks to its unique laws and tax structure, Delaware is well-known to be the most corporation-friendly state in America, making it an ideal location to establish an IT service business. As the legal home to more than 850,000 business entities, Delaware is home to more than half of America's publicly traded companies and over 60 percent of the Fortune 500. 1 That's a lot of businesses that need IT support. Protect your IT company with commercial insurance that fits your risks, including professional liability, general liability, property coverage and workers' comp insurance.
Property and Business Interruption Insurance Are a Must in Delaware
While Delaware's coastal location contributes to the state's rugged natural beauty, the risk of tropical cyclones, and their accompanying high winds and property damage, is very real. Some strong storms can even shut down businesses temporarily, making business interruption insurance a must for Delaware IT businesses. By adding business interruption coverage to your property insurance policy, you can rest assured that you'll be able to keep paying the bills even if your business is temporarily derailed due to a covered loss. Ask your TechInsurance representative for details.
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If you're looking for any of the following types of insurance, we've got you covered:
You may have heard this type of coverage called a "BOP," or Business Owner's Policy. This policy packages general liability insurance with property coverage at one affordable rate, giving you protection if a client should be accidentally injured at your location or if one of your employees causes property damage or bodily injury at a client's site.
Commonly called "errors and omissions" or "E&O" insurance, this type of coverage protects you if your client should claim that mistakes, negligence or omissions you make on the job caused the client a financial loss. For professional services companies such as IT businesses, this is one type of insurance you shouldn't work without.
Many states require companies with employees to carry workers' comp insurance, which pays for medical care and disability coverage for your employees if they should suffer a work-related illness or injury.
If you have employees, you need EPLI. This type of insurance protects you in the event that one of your employees claims an employment practice violation, such as sexual harassment; wrongful termination; or gender, race or age discrimination.
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