IT Consultant Insurance
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Who Needs IT Consultant Insurance?
Insurance for information technology companies can take many forms, due to the number of different risks that IT companies face. Liability for even small mistakes can be large, so you need a technology errors and omissions policy.
Equipment replacement following accidents or natural disasters is covered by a business owners policy (BOP). Liability from data breaches is addressed with a data compromise add-on to a business owners policy or a cyber liability add-on to errors and omissions coverage.
You can get information technology insurance quotes for the different policies you need online.
Any Business That Offers Information Technology Services Needs IT Insurance, Including:
- Application development companies
- Automated data processing services
- Cloud architects
- Computer consulting firms
- Computer technical support specialists
- Data architects
- Database administrators
- Database designers
- Development operations engineers
- Ecommerce companies
- Hardware engineers
- Information technology vendor managers
- IT consultants
- IT specialists
- Mobile application developers
- Network administrators
- Software engineers
- Solution architects
- User interface designers
- Web design agencies
- Web developers
What are the Different Types of IT Consultant Insurance?
At biBERK, we offer seven different types of insurance for IT consultants and other small business owners like you. Depending on the location of your business and other factors, certain types might be better for you than others.
Workers' Compensation insurance
This insurance helps protect your business if an employee is injured, contracts an illness, or dies as a result of an incident on the job. It can cover medical costs, legal fees, and lost wages due to the injury too.
Workers' Compensationchevron_rightGeneral Liability insurance
Also known as commercial liability insurance, a general liability policy covers damages and legal costs associated with injury claims by customers and other people you don't employ, damage to other people's property that was caused by your business, and medical costs associated with these incidents. It also covers libel, slander, and copyright infringement. Plus, there are endorsements you can add to customize your policy, including cyber, hired and non-owned auto liability, employment-related practices liability, and employee benefits liability.
General Liabilitychevron_rightBusiness Owners Policy
Also called property & liability insurance, a business owners policy (BOP) combines general liability insurance with coverage for your company’s property. You'll get protection for the building you own, space you lease, and any property needed to run your business, while also receiving coverage for things like business interruption. This can replace lost income, as well as cover other costs associated with getting your business back up and running after suffering property damage, such as the use of a temporary location. You can also tailor your BOP with add-ons including cyber, hired and non-owned auto liability, employment-related practices liability, and employee benefits liability.
Business Owners Policychevron_rightProfessional Liability insurance
Also known as errors and omissions (E&O) insurance, this type of insurance technology liability insurance could protect you from the cost of damages and legal fees when someone claims your professional service caused financial harm to them or their business. Coverage includes both mistakes on the part of your business (errors) and the failure to perform a service (omissions). For example, as an IT consultant, you might make an error when telling a client what hardware to buy, which causes them to lose money and they end up suing you. Professional liability insurance should be considered if your business provides professional advice, offers a professional service, or has contractual requirements for the coverage.
Professional Liabilitychevron_rightCommercial Auto insurance
If your company owns or leases vehicles, this policy protects your business. This type of insurance can provide coverage for your legal fees and the medical costs of others if your employee is at fault in an accident. It can cover the cost of damages even if the vehicle is used for personal activities outside of its primary business use.
Commercial Autochevron_rightCyber insurance
This coverage can be purchased as an add-on to a general liability, professional liability, or BOP policy. It helps cover costs related to system hacks or data security breaches in which sensitive information has been stolen and fraud has occurred or there is a reasonable expectation that it might occur.
Cyber Insurancechevron_rightUmbrella insurance
When you’re taking out insurance for information technology companies, every policy you purchase has a maximum value that it will cover in the event of an incident. Umbrella insurance adds another layer of protection: It can cover costs that exceed the limit of another liability policy, subject to its own limit. Without it, you may be responsible for anything over your policy limit. Business liability suits can easily exceed the actual value of many small businesses, so we highly recommend an umbrella policy to protect your company.
Umbrella Insurancechevron_rightWhy do IT Professionals Choose biBERK for Business Insurance?
We’re the experts when it comes to small business insurance.
Save time.
Get a quote entirely online or speak with one of our insurance experts right away for help getting a quote, buying a policy, or answering any questions you may have.
Save money.
We insure your small business directly, without a middleman or insurance broker, so we pass that savings on to you—up to 20% less than policies with other insurance companies.
Experienced.
We're part of Warren Buffett's Berkshire Hathaway Insurance Group with millions of satisfied customers, more than 75 years of insurance experience, and $52.2 billion in paid claims in 2023.
Get a Quote Today
See why biBERK is easier and more convenient for IT insurance when you obtain your free quote online.