When your work falls short of meeting a client’s goals, the result could be a lawsuit. Insurance for IT project managers can cover lawsuits from dissatisfied clients, injuries, property damage, and other expenses that can sink a business.
Clients, landlords, or state laws may require project managers to carry insurance. Business insurance can prevent financial losses in the event of an injury, property damage, lawsuit, or data breach.
General liability insurance pays costs associated with common business lawsuits. It's often required in project management contracts and commercial leases.
E&O, also called professional liability insurance, can help pay a project manager's legal costs if a client sues over a mistake. You can often add coverage for intellectual property and media liability.
This policy helps your project management business recover from a data breach or cyberattack. It also helps you pay for client lawsuits related to a breach.
A BOP includes both general liability and commercial property insurance at a discount. Most small project management businesses qualify for this policy.
State law usually requires that IT project management businesses with employees purchase this policy. It helps pay medical costs for work injuries and illnesses.
A fidelity bond provides protection for your business if one of your employees steals from a client. It’s also called an employee dishonesty bond.
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 project management business. Prevent financial losses with policies tailored for your needs.