Data Analyst Insurance

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Employees at a data analysis business.
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Why do data analysts need insurance?

Your clients depend on your data insights to make important business decisions, which means a simple error could have a lasting financial impact. Business insurance covers legal defense costs from clients who claim that your advice caused harm, as well as other expenses like property repairs.

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Fast, easy, and affordable insurance for analysts

Our fast online application helps data analysts and business analysts easily find and compare quotes from top-rated insurance providers.

Got questions? A licensed insurance agent will make sure you get coverage that matches your unique risks.

What types of business insurance do data analysts need?

These insurance products cover the most common risks of data analysis.

Errors and omissions insurance icon

Technology errors and omissions insurance

Tech E&O covers legal costs related to your work performance, such as an incorrect conclusion from your data analytics team. It's sometimes called professional liability insurance.

  • Issues with data quality
  • Misinterpretation of data
  • Inaccurate predictions
General liability insurance icon

General liability insurance

This policy covers basic third-party risks at a data analytics firm, such as a client who slips and fractures their arm in your office. It's often required for a commercial lease.

  • Slip-and-fall accidents
  • Damaged customer property
  • Libel and slander lawsuits
Cyber insurance icon

Cyber insurance

This policy covers the cost of a data breach or cyberattack at your data analysis company. It's strongly recommended for any business that handles sensitive information.

  • System downtime
  • Data breach investigations
  • Fraud monitoring services
Commercial auto insurance icon

Commercial auto insurance

This policy covers the cost of accidents involving a vehicle owned by your data analysis firm. Most states require this coverage for business-owned vehicles.

  • Property damage caused by your vehicle
  • Injuries from an auto accident
  • Vehicle theft and vandalism
Workers’ compensation insurance icon

Workers’ compensation insurance

Most states require workers' comp for data analysis companies that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.

  • Employee medical expenses
  • Disability benefits
  • Legal costs from workplace injuries
Fidelity bond icon

Fidelity bonds

Fidelity bonds compensate your clients if one of your employees steals from them. Your clients might require you to purchase a bond, especially if you work in financial services.

  • Unlawful data access by an employee
  • Unauthorized money transfers
  • Other employee theft or fraud
Looking for different coverage? See more policies.

How much does technology business insurance cost?

IT business owner makes calculations on a tablet.

A data analyst who works independently will pay less for insurance than a larger business.

Factors that affect premiums include:

  • IT / tech services offered
  • Business property and equipment
  • Business revenue
  • Years of experience in your field
  • Policy limits and deductibles
  • Claims history
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How do I get data analyst insurance?

It's easy to get insurance for your small data analysis or data science firm 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:

  1. Complete a free online application
  2. Compare insurance quotes and choose policies
  3. Pay for your policy and download a certificate

Insureon's licensed agents work with top-rated U.S. insurers to find coverage that fits your data analysis or business intelligence company, whether you work independently or hire employees.

Common questions about data analysis business insurance

Do data analysts who work independently need insurance?

Independent contractors and consultants face many of the same risks as bigger businesses, but with their own personal assets at stake. Business insurance can help cover medical expenses, legal defense costs, and expensive repairs.

Data analysts and data scientists may need general liability insurance to qualify for a lease or loan, or they might need a fidelity bond to fulfill the terms of a contract.

Tech E&O is also crucial, as it protects against claims that your advice caused financial harm or that your data was flawed.

Even when it's not required, you may want to invest in workers' comp to guard against costly medical bills from a workplace accident. Personal insurance policies like homeowner's insurance usually don't cover work-related incidents, which is a big reason why contractors often buy commercial insurance.

What other insurance policies do data analysts need?

Depending on the specifics of your data analysis business, you may want to consider additional policies, such as:

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