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IT Business Insurance from Massachusetts Agents

What is it?

Tech insurance provides tailor-made coverage for businesses within the information technology sector. Coverages may help protect against both property and liability risks.

Who needs it?

  • Computer repair services
  • IT consulting agencies
  • Network and data security firms

Possible Coverages

  • Commercial Property Coverage
  • General Liability Coverage
  • Technology Errors and Omissions Coverage
“John was very knowledgeable and helpful to save me money on better policies than I had with another agency. I changed my auto and home insurance to save $$$."
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“The agents were very responsive, and made the transition very easy. I didn’t have to do contact the old agency, and was provided more coverage for a lower cost.”
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What Is tech insurance? 

Running any business within the information technology sector presents multiple risks. To help protect against these risks, Massachusetts businesses in this space can get tech insurance.

Tech insurance provides tailor-made coverage for businesses within the information technology sector. Coverages may help protect against both property and liability risks.

Which businesses in Massachusetts need to have IT business insurance? 

Almost any Massachusetts business in the IT space can likely benefit from IT business insurance. Few businesses could overcome a major loss or lawsuit if no coverage is in place.

These policies are commonly purchased by businesses including:

  • Computer repair services
  • IT consulting agencies
  • Network and data security firms
  • Software and mobile app developers
  • Website development and design firms
  • Website hosting providers
  • IT staffing agencies
  • Telecom cable installers

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If there’s uncertainty as to whether this policy is right for another IT-related business, an insurance agent specializing in IT business insurance can help determine whether this or another policy option would be more suitable.

 IT Business Insurance Massachusetts

What insurance coverages should IT businesses look for?

IT businesses usually need both property and liability coverages. Some potentially important ones are:

  • Commercial Property Coverage: Might cover company-owned buildings, equipment and inventory against damage or loss.
  • General Liability Coverage: Might cover commonplace accidents, defamation lawsuits, and cases of false advertising.
  • Technology Errors and Omissions Coverage: Might cover mistakes made by employees when providing clients with services.
  • Cyber Liability Coverage: Might cover data breaches and malicious online attacks that compromise the business’s or customers’ information.
  • Commercial Auto Coverage: Might cover business-owned cars or vans, and is usually required if commercial vehicles are used for providing on-site services.

In addition to these, businesses may also want coverages such as employment practices liability insurance, commercial umbrella insurance and others. A knowledgeable insurance agent can go over these and any other available coverage options.

Talk to a specialist!

Should IT businesses get business income coverage in their policies?

Business income coverage can provide important financial protection if there’s a covered event that results in prolonged lost revenues. The coverage may provide regular payments for a period when the business is recovering from an event.

Most IT businesses should strongly consider getting the coverage, as businesses in this sector have substantial exposure to this risk. Not only could an event that impacts an IT business itself force operations to halt, but so too could an event that impacts one of the vendors that the business uses. For example, an IT business might not be able to operate if its contracted cloud storage provider has to shut down because of a covered incident.

Business income coverage may help protect against these scenarios. While many business income coverage terms limit coverage to only events directly affecting the policyholder (i.e. the IT business), a few might extend coverage to events impacting vendors. 

An insurance agent who knows IT business insurance well should be able to assist with finding business income coverage that offers extensive protection. They can check whether a specific policy’s coverage applies only to the IT business, or also to its vendors.

 IT Business Insurance Massachusetts

How much do IT businesses pay for insurance?

The cost of insuring a business within the IT sector can vary substantially. A business’s location, size, services and other factors all affect cost.

The easiest way to find out how much different insurance companies will charge for coverage is to compare custom quotes with an independent agent.

How can technology businesses in Massachusetts get tech insurance?

For help finding good tech insurance in Massachusetts, reach out to the insurance agents of Norwood Insurance Agency. Our independent agents will make sure your business is protected well.

Get a quote from insurance specialists!