Choose from the nation's best insurance providers
Top IT and tech professionals we insure
Recommended insurance policies for technology companies and consultants
With the right insurance coverage, your business can rebound from financial losses after a lawsuit, cyberattack, or other incident. These policies provide crucial liability coverage for technology businesses and startups.
General Liability Insurance
Covers bodily injuries, customer property damage, and advertising injuries. Often required for commercial leases.
Best for:
Slip-and-fall accidents
Customer property damage
Libel lawsuits
Professional Liability Insurance
Also called E&O insurance, this covers legal costs for professional errors or missed deadlines.
Best for:
Negligence lawsuits
Project disputes
Work mistakes
Workers' Compensation Insurance
Covers medical expenses for employee injuries and is required in most states.
Best for:
Employee medical costs
Disability benefits
Injury-related lawsuits
Business Owner’s Policy (BOP)
Combines general liability and commercial property insurance for small businesses in one affordable package.
Best for:
Customer injuries
Damaged property
Business interruptions
Cyber Insurance
Helps businesses recover from cyberattacks and data breaches by covering recovery costs and customer notifications.
Best for:
Data breach lawsuits
Customer notifications
Fraud monitoring
Commercial Auto Insurance
Covers vehicle-related accidents and damages. Required for business-owned vehicles in most states.
Best for:
Auto accident lawsuits
Vehicle damage or theft
Vandalism
How much does insurance cost for IT businesses?
Several factors will have an impact on tech insurance costs, including:
- The IT services or products you offer
- Your business equipment and property
- Your tech company’s size and revenue
- Other insurance products you’ve purchased
- Your deductibles and policy limits
- How many employees you have
Protect your technology business today
Swift helps a wide range of businesses get the coverage they need from top-rated U.S. insurance carriers. Complete our easy online application to get free insurance quotes.
Our licensed insurance agents can help you choose the best technology insurance policies that meet the needs of your small business.
You’ll typically be able to get coverage quickly and receive a copy of your insurance certificate on the same day.
How do I get information technology business insurance?
It’s easy to find insurance for information technology businesses. Whether you’re in web design, software development, an app developer, or an IT consultant, you’ll need to have some basic information about your business available.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and get a certificate of insurance with Swift Insurance in three easy steps:
- Complete a free online application
- Compare free quotes and choose a policy
- Pay for your policy and download a certificate for proof of insurance
Swift’s licensed insurance agents work with top-rated U.S. providers to find the right insurance plan for your IT business, whether you’re an IT contractor or an IT security company with multiple employees.
Common questions about information technology business insurance
Why do tech professionals need business insurance?
As a tech professional, you might think you’ve got few cyber risks and low insurance needs because your knowledge of the technology industry and computer systems limits your risk exposures. Unfortunately, we live in a litigious society and hacking attempts are on the rise.
Even a frivolous lawsuit can have a serious impact on your business. If a client says you failed to prevent a data breach or missed a deadline, it could have a financial impact on your business even if you’re not at fault.
Here’s a closer look at why insurance should be an important part of your risk management strategy:
Technology errors and omissions insurance, sometimes called tech E&O or tech professional liability insurance, can help you with legal fees and court costs if a dissatisfied client sues you over your work performance. Tech E&O insurance covers:
- Oversights and mistakes
- Failure to deliver promised IT services
- Breach of contract
- Third-party cyber insurance (data breach lawsuits)
- Intellectual property and media liability (for certain professions)
Cyber insurance, also called cybersecurity insurance, insures against the high cost of a data breach or a malicious software attack. It covers the cost of customer notification, credit monitoring, legal fees, and fines.
Commercial property insurance covers your business’ property and equipment in case it’s damaged, lost, or stolen. This policy is often bundled with general liability insurance in a business owner’s policy (BOP) to save money.
Workers’ compensation insurance is required in most states for businesses with employees. It covers medical expenses and lost wages due to work-related injuries and illnesses. This is important since private health insurance won’t cover medical bills related to your job.
Commercial auto insurance is also required by most states for anyone with a business-owned vehicle. It covers legal bills, medical costs, and property damage in case of a vehicle accident. Additional, if you or your employees operate personal, rented, or leased cars for work, you’ll need hired and non-owned auto (HNOA) insurance.
Do IT independent contractors need insurance?
As an independent contractor, having your own insurance protects your financial bottom line and may be needed to qualify for contracts and leases.
You will likely need commercial general liability insurance, which covers common business risks such as customer injuries, damage to a customer’s property, and advertising injuries. This is often the first policy a consultant or new business owner applies for.
Keep in mind that you’re vulnerable to the same lawsuits as a larger IT business, which is why you’ll also need policies like tech E&O or bonds.
Fidelity bonds are often required to qualify for contracts. It reimburses the client if one of your employees commits fraud, theft, or forgery.
How can I save money on IT business insurance?
You can start by comparing free business insurance quotes through Insureon’s online portal. Our licensed insurance agents can help make sure you get the right, most affordable coverage for your small tech company. Most small businesses can get insured and download a certificate of insurance within hours of applying for quotes.