Why do IT consultants need business insurance?
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6 policies every IT consultant should consider
General liability insurance
This policy protects your IT consulting business from basic risks that most small businesses face. It's often required by client contracts and commercial property leases.
- Accidental client injuries at your office
- Accidental damage to client property
- Libel, defamation, and copyright lawsuits
Technology errors and omissions insurance
Technology E&O insurance can help pay for lawsuits over mistakes made by an IT consultant. Intellectual property (IP) and media liability coverage can often be added.
- Issues with IT software or equipment
- Bad advice that damages a client
- Accusations of negligence
Cyber liability insurance
This policy pays for recovery from data breaches and cyberattacks. It also covers legal costs if you're accused of failing to prevent a data breach at a client's business.
- Lawsuits from clients affected by a breach
- Notifying affected clients about a breach
- Fraud detection and monitoring
Business owner’s policy
A BOP bundles general liability insurance with commercial property insurance. Many providers offer IT consultants a discount if they choose this policy.
- Accidental client injuries at your office
- Accidental damage to client property
- Damaged or lost business property
Workers’ comp insurance
State law usually requires IT consulting businesses that have employees to purchase this policy. It helps pay medical costs from work injuries and illnesses.
- Medical bills for employee injuries
- Partial wages while the employee recovers
- Lawsuits over work injuries
Fidelity bonds
A fidelity bond protects your IT consulting business if one of your employees steals from a client. It’s also called an employee dishonesty bond.
- Unlawful data access by a consultant
- Illegal electronic funds transfer by a consultant
- Other employee theft or fraud
IT consultant insurance costs
Average costs come directly from policies purchased by TechInsurance customers.
General liability: $30 per month
Errors and omissions: $65 per month
View more expected costs.
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Why IT consultants choose TechInsurance
Protect against common risks
A lawsuit or data breach can devastate your IT consulting business. Prevent financial losses with policies tailored for your needs.
