Insurance for Computer Related Services
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What Insurance Do Computer Related Services Need?
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused somebody financial loss. PLI covers your legal defense costs, damages and settlements.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Frequently Asked Questions
Why do Computer-Related Services need insurance?
In this industry, workers provide computer disaster recovery and software installation services.
Unfortunately, bad things can happen, even to the most prominent businesses. That is why you need insurance to protect your business from the risks that it can encounter. A lawsuit, for example, can put a huge dent in your business finances regardless of whether you win or lose. When you have insurance, the defense costs, court fees, litigation and judgments awarded by courts are all covered. All you have to do is pay a small monthly fee to protect your business.
What risks do Computer-Related Services face?
Your business faces a unique set of risks. Below are some examples:
- The computer you repaired was not fixed properly. It caused problems that cost your client money for a day. Your client then files a lawsuit against your business.
- Your website was hacked. All your customer data was compromised.
- Your computers were destroyed, as well as all your important documents, because of a fire.
How much does insurance for Computer-Related Services cost?
The cost of insurance for computer-related services will rely mainly on the coverage required, the number of employees and the size of your business. If you want to find out the cost of your insurance quickly, simply apply online to receive a free quote or call our insurance experts.