Your clients rely on your data to make key decisions. An error could have tremendous repercussions – and lead to a lawsuit. Insurance for data scientists can help pay for client lawsuits, injuries, property damage, and other risks.
General liability insurance protects your business from the most common liabilities faced by data scientists. It's often required in client contracts and commercial leases.
E&O, also called professional liability insurance, can pay legal costs if a data scientist is sued over an error or oversight. Intellectual property (IP) and media liability coverage can often be added.
This policy can help your data science firm bounce back after a data breach or cyberattack. It can also cover lawsuits from clients affected by a breach.
A BOP includes both general liability and commercial property insurance. Data scientists often receive insurance at a discount if they qualify for this bundle.
If your business has employees, you'll probably need to purchase this policy to comply with state law. It covers medical costs from work injuries and illnesses.
Also called an employee dishonesty bond, a fidelity bond protects your business if one of your employees steals from a client. It compensates the client for their loss.
Median costs come directly from policies purchased by TechInsurance customers.
General liability: $28 per month
Errors and omissions: $61 per month
View more sample costs.
Start a free application to see how much insurance will cost for your business.
A lawsuit or data breach can devastate your data science business. Prevent financial losses with policies tailored for your needs.