Inside the Briefcase

Augmented Reality Analytics: Transforming Data Visualization

Augmented Reality Analytics: Transforming Data Visualization

Tweet Augmented reality is transforming how data is visualized...

ITBriefcase.net Membership!

ITBriefcase.net Membership!

Tweet Register as an ITBriefcase.net member to unlock exclusive...

Women in Tech Boston

Women in Tech Boston

Hear from an industry analyst and a Fortinet customer...

IT Briefcase Interview: Simplicity, Security, and Scale – The Future for MSPs

IT Briefcase Interview: Simplicity, Security, and Scale – The Future for MSPs

In this interview, JumpCloud’s Antoine Jebara, co-founder and GM...

Tips And Tricks On Getting The Most Out of VPN Services

Tips And Tricks On Getting The Most Out of VPN Services

In the wake of restrictions in access to certain...

Does Your IT Company Need Insurance?

September 14, 2015 No Comments

Featured article by Calvin Page, IT Specialist

question-FINAL

There are various types of business insurance plans available for just about every type of business that you can think of, but do IT companies really need insurance and, if so, what type of insurance should they be purchasing?

Continue reading for a few tips, and don’t forget to check out bizinsure.com to learn more about your options when it comes to covering your IT business from disasters and lawsuits.

The Simple Answer is Yes, You Need Insurance

An IT business is one that has already placed a lot of value into its assets, as well as its experts, so it should come as no surprise that the answer is a resounding “yes” when it comes to whether or not an IT company really needs to purchase insurance coverage.

After all, you want to protect your physical assets from things like natural disasters, as well as protect your company from lawsuits that could come from customers and even staff members who become injured on your property or who feel like you did not fulfill your contractual obligations.

What types of insurance should you get for your IT company?

General Liability

General liability insurance is one that every business owner should look into. It will cover you against all third party liabilities that are caused as a result of negligence of any kind. The coverage will provide protection from lawsuits that are the result of someone getting hurt, or their property being damaged while on your premises. So, for example, if someone trips and falls or their laptop is damaged by an accidental coffee spill while in your office, you will not be forced to cover the damages. Instead, the insurance will take care of everything.

Errors and Omissions

Also commonly referred to as professional liability insurance, errors and omissions will effectively protect your IT company from any lawsuits that are brought forth against you as a result of a breakdown in your professional services. Because IT is a service-oriented industry, this is a valuable type of business insurance to have in place because it will cover you in the event that you or one of your employees makes a mistake in the way your services are rendered. In other words, if a customer feels that you did not deliver as you promised and that person decides to sue you, you will be covered.

Technology

Not every business will need technology insurance, but this type of insurance is a great form of coverage for IT companies that rely upon technology in the form of various hardware and software in order to do business properly. This is a really great way to give yourself the additional, specific coverage that you need on top of general and professional liability insurance plans.

When you are ready to purchase business insurance for your IT company, it is a good idea to use a resource that lets you search through multiple types of plans from various providers so that you can find the one that is right for your company’s needs and budget.

Leave a Reply

(required)

(required)


ADVERTISEMENT

Gartner

WomeninTech