Person repairing computer circuit board.
Computer Repair Shop Insurance
What kind of work do you do?
Choose from the nation's best insurance providers
Logos of Insureon's partners.

How much does insurance cost for computer repair and service businesses?

Computer repair and service insurance costs are based on policy limits, deductibles, types of policies purchased, and several other factors. Save money on business insurance by comparing quotes from different carriers with TechInsurance.

Key computer repair insurance policies and their expected cost

Here are the top insurance coverages bought by computer repair businesses and their average monthly costs:

Our figures are sourced from the median cost of policies for computer repair companies who apply for quotes with TechInsurance. The median provides a better estimate of your expected insurance costs because it excludes outlier high and low premiums.

Errors and omissions insurance icon

Tech errors and omissions insurance coverage

Computer repair businesses spend an average of $59 per month, or $713 yearly, for technology errors and omissions insurance. This coverage combines errors and omissions insurance and cyber insurance into one policy, often costing less than buying each of these coverages separately.

Also known as professional liability insurance, E&O insurance protects small businesses against claims of professional negligence. For example, a repair technician's accidental damage to a client's computer could cause the client financial loss, resulting in a lawsuit.

Tech E&O includes third-party cyber insurance with this coverage, which adds extra protection in case your computer repair services unintentionally cause a data breach or cyberattack at a customer's company.

Below is the average E&O insurance policy for computer repair owners who purchase from TechInsurance:

Insurance premium: $59 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $2,500

The cost of errors and omissions insurance is based on many factors, including the policy limits you choose, the types of electronic devices you repair (e.g., hard drives, tablets, etc.), and your claims history.

Cyber liability insurance icon

Cyber insurance for computer repair businesses

Computer repair companies spend an average of $82 per month, or $986 annually, for cyber insurance. Also known as cyber liability insurance or cybersecurity insurance, this policy helps pay for the cost of complying with your state's data breach laws.

Cyber insurance covers expenses related to a data breach or cyberattack, including legal fees and customer notification costs. It is especially crucial for companies that store personal customer information, such as credit card numbers or Social Security numbers.

The cost of cyber insurance primarily depends on the amount of sensitive information you handle at your computer repair business.

General liability insurance icon

General liability insurance for computer repair businesses

Computer repair startups spend an average of $30 per month, or $362 per year, for general liability insurance. Though usually not required by law, a general liability policy may be needed in order to sign a lease or work with some clients.

General liability coverage protects your small business from common third-party risks, such as customer property damage or bodily injury. It also pays for lawsuits related to copyright infringement and defamation, including slander and libel.

For example, if a competitor claims that an employee at your computer service company made a disparaging statement about them on social media and decides to sue, a general liability policy would pay for any legal costs.

Below is the average general liability insurance policy for computer repair businesses who buy from TechInsurance:

Premium: $30 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

If you have a small computer repair business and it's low-risk, TechInsurance's licensed agents usually recommend a business owner’s policy (BOP). A BOP bundles general liability insurance with commercial property insurance at a lower cost than buying these policies separately.

For computer repair stores, the average cost for a business owner's policy is $46 per month or $550 per year. To protect against financial losses due to a forced closure, such as from a fire or flooding, you can also add business interruption insurance to a BOP.

The cost of general liability insurance is based on several factors, including the types of services offered, policy limits, size and location of your company's business property, and any subcontractors or additional insured endorsements you may have.

Find insurance quotes for computer repair and service business
Fidelity bond icon

Fidelity bonds for computer repair businesses

The average cost of a fidelity bond is $88 per month, or $1,054 annually, for computer repair businesses. Some clients, especially those in the financial services industry, may mandate a bond in order to sign a contract with them.

Fidelity bonds, a type of surety bond, protect your clients by reimbursing them in the event your employee commits theft, fraud, or forgery. This include illegal electronic funds transfer and unapproved credit card purchases.

The cost of a fidelity bond is a certain percentage of the total bond amount. Unlike most insurance policies, this amount must be paid back to the company that issued the bond.

Workers’ compensation insurance icon

Workers' compensation insurance for computer repair businesses

Computer repair business owners spend an average of $48 per month, or $581 annually, for workers' compensation insurance. To comply with state requirements and avoid penalties, computer repair companies with one or more employees typically are required to purchase this policy.

Workers' comp coverage pays for medical expenses and disability benefits when you or an employee suffers a work-related injury or illness. For example, if an employee at your computer repair shop develops carpal tunnel, a workers' comp policy would pay for their treatments and lost income while they recover.

Workers' compensation coverage also often includes employer's liability insurance, which pays for defense costs and other legal fees in the event of a lawsuit related to workplace injuries.

Even though workers' comp may not be required for sole proprietors or independent contractors, it is highly recommended since most health insurance plans can deny claims for injuries that occur at your jobsite.

The cost of workers' comp is based on numerous factors, including the number of employees you have and their occupational risks.

Commercial auto insurance icon

Commercial auto insurance for computer repair businesses

Technology companies spend an average of $205 per month, or $2,463 yearly, for commercial auto insurance. Almost every state requires this type of insurance if your computer repair business owns any company vehicles.

If your business vehicle(s) are involved in an accident, a commercial auto policy would help cover property damage costs and any medical expenses. This coverage also helps pay for costs related to vandalism, weather damage, and theft.

To protect personal, rented, and leased vehicles used for business purposes, you'd need hired and non-owned auto insurance (HNOA) instead.

The cost of commercial car insurance depends on many factors, including your employees' driving records, policy limits, the number of vehicles you own and their value, and your coverage options.

How do I get affordable computer repair business insurance?

TechInsurance makes it easy for computer repair businesses, computer retail stores, and IT consultants to obtain affordable business insurance in three easy steps:

  1. Fill out a free online insurance application with details about your business.
  2. Compare custom quotes from top-rated U.S. insurance companies in real-time.
  3. Choose the best policies for your business and pay the premiums to begin coverage.

TechInsurance's licensed insurance agents are available to help answers questions about your liabilities, state insurance requirements, and the right coverage for your business needs.

Once you've bought the policies you need, you can download a certificate of insurance for proof of coverage. Small business owners can usually get insured within 24 hours of applying for quotes, offering peace of mind almost instantly.

Explore reviews from our customers
Learn More
RELATED POLICIES FOR YOUR BUSINESS
Topics