Insurance for IT contractors

Sophisticated coverage without the 404

Technology is all about zeros and ones: it either works or it doesn't. At least that's what your clients think.

In fact, the majority of the products or services you offer are likely to be highly complex, with countless opportunities for error.

The fact that your client may lack the technical knowledge to realistically evaluate the solution you deliver can compound the problem.

• Why do IT professionals need liability insurance?

  The clue's in the name. Professional liability insurance is for people like you, who provide a professional service.

  Because despite your expertise and your best efforts, mistakes can happen and disagreements with clients can arise.

  Under a single contract you could be asked to develop software, supply hardware, design an integrated system and even install the equipment.

  The solution is simple. Professional liability insurance covers all these essential sources of revenue.

  What's confusing, is it's also known as errors and omissions insurance – or E&O, for short. Don't worry, it does exactly the same thing – protects you.

  If a client does claim against you, you're covered for legal defense costs and any damages you're liable for.

  Insurance for IT contractors through InsuranceBee; one policy, zero worries.

• What does our IT contractor insurance cover?

  We provide coverage for:

  • errors and omissions – whether actual or alleged
  • claims and damages
  • defense costs – including appointing an attorney, if necessary
  • claims arising from past work
  • worldwide coverage – as long as the claim is filed in the United States, a US territory or Canada.

• What other kinds of insurance do IT contractors need?

  Do you work at your clients’ offices? Do they come to yours? Then you want to protect your business from slips, trips and falls suits. General liability insurance can cover medical bills, legal expenses and compensation, if you’re liable.

  Got anyone working for you? Most states require you to have workers’ compensation insurance the minute you hire your first employee. It’s good to have anyway. The cost of workplace injuries can cripple your business. Workers’ comp takes care of medical bills, lost wages and legal fees, if you’re sued.

  You know, better than anyone, what hackers are capable of. If they want to get into your systems, they will. Having cyber liability insurance gives you peace of mind. It means you can focus on your client’s defenses knowing that if you’re hacked, the recovery costs are covered. Your reputation safe, it’ll be business as usual.

What other kinds of insurance do IT contractors need?