Why do data architects need business insurance?
Your clients rely on smoothly working databases that meet their needs. If there’s a disruption, your business could face a lawsuit. Insurance for data architects can help cover client lawsuits, injuries, property damage, and other risks.
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6 policies every data architect should consider
General liability insurance
This policy protects data architects from common liability 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, also called professional liability insurance, helps data architects cover the costs of lawsuits over work mistakes. Intellectual property (IP) and media liability coverage can often be added.
- Database errors
- Failure to meet client expectations
- Accusations of professional negligence
Cyber liability insurance
This policy helps data architecture firms recover from a data breach or cyberattack. It can also cover lawsuits from clients who were affected by a breach.
- Fraud detection and monitoring services
- Client notification after a breach
- Lawsuits from clients affected by a breach
Business owner’s policy
A BOP bundles general liability insurance with commercial property insurance. Data architects can get a discount on business insurance if they qualify for this policy.
- Accidental client injuries at your office
- Accidental damage to client property
- Stolen or damaged business property
Workers’ comp insurance
If your data architecture firm has employees, state law usually requires this policy. It covers medical bills and lost wages if an employee is injured on the job.
- Medical costs from work injuries and illnesses
- Partial wages while employees recover
- Lawsuits over work injuries
Fidelity bonds
If an employee at your data architecture firm steals from a client, this policy will reimburse the client for their loss. It's also called an employee dishonesty bond.
- Unlawful data access by your employee
- Illegal money transfer by your employee
- Other employee theft or fraud
Technology business insurance costs
Average costs come directly from policies purchased by TechInsurance customers.
General liability: $30 per month
Errors and omissions: $67 per month
View more expected costs.
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Protect against common risks
A lawsuit or data breach could devastate your data architecture business. Prevent financial losses with policies tailored for your needs.
