Your clients trust you to keep their tech systems safe, but just one mistake could result in a costly lawsuit. Protect your cybersecurity company with insurance policies that cover common liabilities, including legal costs, medical expenses, and repair costs for property damage.
State laws and client contracts may require you to have insurance coverage. These policies cover the most common risks faced by cybersecurity companies and consultants.
Technology E&O, also called professional liability insurance, is crucial for cybersecurity consulting services. It covers lawsuits related to work performance, such as claims that your advice caused financial harm.
If a client suffers a data breach or cyberattack, a cyber insurance policy protects cybersecurity companies from a lawsuit by helping to pay for legal expenses and associated costs.
This policy covers risks every cybersecurity consultant faces, such as accidental damage to a client's laptop. Bundle it with property insurance for savings in a business owner’s policy.
This bond, also called an employee dishonesty bond, compensates clients if an employee at your cybersecurity startup steals from them. It's often required for client contracts.
Most states require workers' comp for cybersecurity companies that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
This policy covers the cost of an accident involving a vehicle owned by your cybersecurity company. Most states require this coverage for business-owned vehicles.
It's easy to get cybersecurity business insurance if you have your company information on hand. Our insurance application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's licensed agents work with top-rated U.S. insurers to find insurance for your cybersecurity company, whether you work independently or hire employees.
Yes. Self-employed cybersecurity consultants often have the same risks as small businesses. For example, a client could sue you after experiencing a data breach when you had recently installed a security program for them. This single lawsuit could financially devastate your business.
Cybersecurity business insurance coverage protects independent contactors and sole proprietors by paying for costly expenses, such as lawsuits, medical bills (e.g., from carpal tunnel), and property damage. In order to sign a contract, some clients may require you to carry this policy.
When buying tech E&O and cyber insurance, you may come across the following terms:
You can typically add first-party cyber coverage to your general liability insurance or business owner's policy (BOP). Third-party cyber coverage is included in tech E&O insurance, which bundles cyber insurance with errors and omissions insurance.
Getting the right insurance is a crucial part of any business's risk management plan. Depending on the type of cybersecurity company you have (e.g., cybersecurity software company), you may want to consider additional policies, such as: