Tech Businesses have unique exposures that can vary substantially from other types of businesses. With these unique exposures, it is imperative that you take the time to understand your coverages to make sure that your business is properly insured.

What Kind of Insurance Is Needed For a Tech Business – General Liability/BOP

General Liability is the most common coverage you will see when searching for Business Insurance. General Liability protects you against bodily injury and property damage claims that can arise from your operations. In addition to purchasing a basic General Liability policy, there are optional endorsements that we recommend for most tech companies. You can bundle Business Personal Property with your General Liability as a package, also called a Business Owners Policy, or BOP. Having Business Personal Property can be essential for protecting your computers, data, or tools. In addition to the property coverage, we recommend adding Hired and Non-Owned Auto Liability coverage if your company has any operations that include driving.

What Kind of Insurance Is Needed For a Tech Business – Professional Liability

If your company is involved with any type of consulting, you should strongly consider purchasing Professional Liability Insurance. Professional Liability is a coverage that is specifically designed to protect you against advice you give as a consultant. For example, let’s imagine you advise your client to use a specific type of server that does not communicate well with your clients’ other systems. This advice may cause your client financial damages, which you may be held liable for. The Professional Liability would provide protection against the legal and attorney costs associations with such a lawsuit.

What Kind of Insurance Is Needed For a Tech Business – Cyber Liability

Cyber Liability is a relatively new coverage that is intended to protect you against claims that can arise from internet-based claims. Some examples of exposures from the internet include infringement of intellectual property, accidental transmissions of viruses or spyware, privacy issues, and countless more. If you run an e-business or online marketplace, you need to seriously contemplate purchasing this coverage.

There are also additional coverages to consider, depending on your operations. You will need Workers Comp if you have employees, Business Auto if you have designated business vehicles, and more, depending on your operations.

If you are unsure of which coverages you need, give us a call! Our technology specialists are available and eager to assist you. Please call us at (925) 297-4829.

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All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.