State laws, clients, and landlords may require you to carry business insurance. These policies prevent financial losses in the event of an injury, property damage, lawsuit, or data breach.
This policy protects edtech companies from basic third-party risks, and it's often required by contracts and leases. Bundle it with property insurance in a business owner's policy (BOP) for a discount.
This policy helps your edtech business recover from a data breach or cyberattack. It's strongly recommended for any business that stores credit card numbers, customer addresses, or other personal information.
Tech E&O insurance covers legal costs related to work performance, such as a coding error in your learning technology that leads to downtime or data loss. It includes both E&O and cyber insurance.
Education technology companies that have employees usually need to buy this policy to comply with state laws. It also covers work-related medical bills for sole proprietors, which personal health insurance won't cover.
Commercial auto insurance covers the cost of accidents involving an edtech business's truck, van, or company car. Most states require this insurance coverage for vehicles owned by a business.
If one of your employees steals from a client, a fidelity bond reimburses the client for the amount that was stolen. It's also called an employee dishonesty bond.
Get insurance fast so you can get started working with clients. Fill out our easy online application, choose a policy, and pay online to start coverage today.
Independent contractors and consultants take on many of the same risks as bigger businesses, but with fewer assets to pay for a costly lawsuit or injury. Business insurance can pay for medical bills, attorney's fees, and expensive repairs that you might otherwise have to pay for out of pocket.
Additionally, you may need insurance or a bond to sign a commercial lease, qualify for a loan, or fulfill the terms of a contract. Other policies like tech E&O are also crucial, as they can pay for legal costs if a client blames your edtech company for financial losses or a data breach.
While it's not required by law for sole proprietors, workers' comp covers job-related injuries that your personal health insurance won't cover, such as carpal tunnel syndrome. Contractors often buy business insurance because homeowner's insurance and other personal policies don't cover incidents related to your work.
Education technology companies may need additional insurance policies to protect against other risks, such as a fire that damages your office or equipment:
There are two kinds of cyber insurance, both equally important for edtech businesses:
When you buy tech E&O, it includes both types of cyber insurance, along with errors and omissions insurance to protect against other lawsuits from dissatisfied clients.
It's easy to save money on business insurance through a few simple steps: