From programming glitches that bring down a system or destroy data, to improperly repaired or installed hardware, mistakes are inevitable in computer business. Computer business insurance protects you from the consequences of these common mistakes. Even an unfounded lawsuit can be so expensive that it drives your business to bankruptcy. A covered computer insurance claim would include both the costs of a suit and any damages up to the limit specified in the policy. Computer business insurance can include coverages such as database insurance, IP insurance, cyber liability insurance, and technology error and omissions insurance. Together, these policies protect your intellectual property, cover you in case of database breaches, and help insulate you against lawsuits caused by negligence or failure to prevent a virus from spreading through a network.
Workers Compensation Insurance
IT insurance is comprised of a number of different policies. General liability is a must for IT workers, but it only covers claims of bodily injury or property damage. Most general liability policies will cover you whether you are at your own location or on a customer’s premises, which is useful for contractors that work out of different offices, or repair technicians that travel to many sites. Property coverage is another important part of information technology insurance. The property coverage packaged in IT insurance covers business property as well as items specific to IT professionals such as computer, media, laptop, and even software insurance. It is also possible to get workers compensation in your IT insurance package. The policies are combined and customized in a way that meets the specific needs of a specialist in the information technology field.
Commercial Liability Insurance
The internet connects you and your business to the world. Unfortunately, without internet liability insurance, this connection also exposes you to a world of risk. These legal hazards are typically not covered by the standard errors and omissions policy in your business liability insurance. Not only e-commerce sites are at risk – any business-related internet activity can present a liability, even simply using e-mail. The more your business utilizes an online presence to prosper and expand, the more you have to lose when operating without internet liability insurance.
Professional Liability Insurance
Computer business insurance is crucial for anyone doing work in the technology sector. General and professional liability insurance does not provide adequate protection for computer repair technicians and IT consultants. Computer business insurance is a variety of policies configured especially for the needs of your business.
The digital age has created a great number of new positions. Standard general liability insurance does not cover many of the risks associated with these new fields, making IT insurance vital for professionals in the IT industry. Software developers, equipment repair technicians, web and system designers, computer programmers, IT project managers, and online security specialists, are some of the new positions that each have their own intrinsic risks and liabilities. In addition, much of this work is done by people with fluid employment situations – working part time, full time, or as contractors – which can make traditional insurance unsuitable for information technology workers. IT insurance is an array of insurance policies specifically tailored to those working in the IT field, packaged together for ultimate ease and cost effectiveness.