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What kind of insurance is best for IT consultants?
As an IT consultant you understand how to tailor information technology to meet your client's needs. At Hiscox we understand the unique risks you face in doing so. That's why we offer IT consultant insurance that's tailored to your field.
Professional liability insurance, sometimes called errors and omissions insurance (E&O insurance), is insurance coverage for claims against businesses that provide professional and personal services – for businesses like yours. When is it important to have professional liability insurance? Examples include:
- Faulty backup: An IT consultant has been contracted to backup a client's business records, and the external hard drive being used fails causing the consultant to lose all of the data. The client could make a claim for using improper backup procedures which caused the consultant's failure to deliver the services promised. Professional liability insurance could protect IT consultants if such a claim is made.
- Dissatisfied client: An IT consultant is hired to review your client's website and network security in order to implement new procedures where weaknesses are found. A month after the project is completed, the client's website gets hacked and they lose revenue from the site being down. The client accuses the consultant of faulty work. Professional liability insurance could protect IT consultants against claims of negligence even if they haven’t made a mistake.
Learn more about professional liability insurance.
General liability insurance, sometimes called Commercial General Liability (CGL), could protect your business from another person or business’s claims of bodily injury, associated medical costs, and damage to property. Having this kind of coverage is beneficial in several instances:
- Lost wages: A client came to the office of an IT consultant to discuss a possible project. While there, the client tripped over an area rug and fell, hitting his head on a desk. The accident resulted in a concussion, the treatment for which required that he stay out of work for six weeks. The client insisted that the consultant was responsible for his lost wages. General liability insurance could protect IT consultants against third-party claims of bodily injury, associated medical costs and property damage.
- Data loss: An IT consultant is installing a new network at a client’s office. While transferring the data from the old server to the new one, several important files are corrupted. The client sues the consultant for the financial implications of the lost data. A general liability policy could cover these costs, protecting the IT consultant.
- Property damage: An IT consultant is performing maintenance on a client’s server. The temporary assistant he hired to help with the project spills a cup of coffee on the server, damaging it beyond repair. The consultant’s general liability insurance policy could cover the cost to replace the server.
Learn more about general liability insurance.
Business owners policy (BOP) is a combination of general liability and business property insurance. BOP is often used to provide balanced coverage for small businesses who also want to protect their own business equipment. Some examples of what could be covered are below:
- The office above an IT consulting office is flooded by a burst pipe and the water leaks into the office below, damaging several desks, chairs, and computers. The IT consultant’s business owner’s policy could cover the cost to replace the damaged furniture and equipment.
- An IT consultant’s server is damaged when there is a power surge, and it cannot be repaired. The cost to replace the server could be covered by the consultant’s business owner’s policy.
Learn more about business owners policy.
Why IT consultants choose Hiscox:
- Passion for Service: Agents knowledgeable about your business concerns will provide you with excellent service – 4.8/5 of people surveyed recommended us.
- Confidence: Hiscox Insurance Company Inc. is rated “A” (Excellent) by A.M. Best.
- Customized Coverage: We tailor our professional insurance to the risk you’ll face in your industry.
- Competitive Rates: Our small business insurance quotes start from $22.50 per month in most states.
Get a fast, free quote now and get that Hiscox confidence behind your business. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET.
Hiscox Customer Reviews
Eric, Los Angeles, California
“Excellent service by Hiscox”
Service for my claim was incredibly accurate and quick.
Amy, McKinney, TX
“Excellent service by Hiscox”
Very knowledgeable salesperson
“Easy to work with”
The agent I spoke with took time to explain different policies & I like being able to purchase by the month
Eldon, West Hollywood, CA
“One stop shop”
They have a more comprehensive and complete insurance policy, that's why I went with them. I didn't want to have two companies for two different products. I got General liability insurance and Professional liability insurance.
Patricia, Biloxi, Mississippi
“The clincher in business deals”
They were patient with me as I stressfully struggled with building owners, to open my business. Hiscox provided professionalism and quality that got everyone’s approval for my business to open.
Jeffrey, Ft. Myers, FL
My customer service representative was very knowledgeable and helpful and made my experience a pleasurable one.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.