Small business insurance
Small business insurance provides financial protection against common accidents, liability claims, and damages that could impact your small business.
While an S corp shields tech business owners from some legal liabilities, it’s still important to protect yourself with business insurance.
Liability insurance can protect you from risks and help your business meet contract requirements. Here’s how to decide which coverage limits you need for your liability policies.
Business liability insurance is any type of commercial insurance that defends against accusations that your business caused damage, injury, or loss. It's recommended for all small businesses because of the high cost of lawsuits.
Commercial insurance protects businesses, freelancers, and independent contractors against liability lawsuits, property damage, cyberattacks, and other risks that could devastate your company.
The cost of small business liability insurance primarily depends on which policies you buy. The most common policy, general liability insurance, has an average cost of $28 per month.
Buying or renting an office is a big step for a small company – so you’ll want to make sure to protect your investment with office insurance. While commercial property insurance pays for damage to your building and belongings, you’ll likely need other policies as well.
If you’re a consultant, your clients, landlords, or state regulations may require you to carry general liability insurance, professional liability insurance, and workers' compensation. These key policies cover unexpected costs that could threaten what you’ve worked so hard to build.
Also known as errors and omissions insurance, professional liability insurance protects your company from client lawsuits over missed deadlines, mistakes, or negligence – regardless of whether you’re at fault.
Professional liability insurance covers legal costs due to professional mistakes. Any business that provides professional services is strongly encouraged to get this coverage. Your industry and the scope of your services affect the cost of this policy.
Liability claims can be a threat to your tech business. If you’re accused of injuring someone, damaging property, or causing other harm it could easily turn into a costly lawsuit. That’s why it's important to have the right insurance protection in place to cover a range of potential liability risks.
Professional liability insurance provides financial protection against legal disputes over professional mistakes. Learn more about coverage, costs, and other considerations.
Both professional liability insurance and errors and omissions insurance offer financial protection from client lawsuits over unsatisfactory work. They are essentially the same types of coverage for mistakes in professional services.
State laws determine whether your business needs workers' compensation and other policies. Learn the requirements for tech businesses in your state and compare quotes online for free with TechInsurance.