Business Insurance for Data Scientists

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Data loss or a phishing attack could wreak havoc on your company. Protect yourself from expenses related to cyberattacks, injuries, and other risks with insurance for business intelligence and data professionals.

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Insureon helps data scientists compare insurance quotes from top U.S. carriers online. Get several quotes with one application.

What types of business insurance do data scientists need?

These policies provide coverage for the most common risks in data science.

Errors and omissions insurance

This policy, also called technology E&O, is crucial for data scientists. It can cover legal expenses related to the quality of your work, such as a lawsuit over misinterpreted data.

BEST FOR

Failure to deliver promised results
Accusations of negligence
Work errors and oversights

Cyber liability insurance

This policy helps data science businesses survive data breaches and cyberattacks by helping to pay for recovery expenses, lawsuits, and other related costs.

BEST FOR

Data breach lawsuits
Client notification expenses
Fraud monitoring costs

Fidelity bonds

Fidelity bonds compensate your clients if an employee at your data science business steals property, money, or data from them. They are often required in client contracts.

BEST FOR

Unlawful data access by an employee
Unauthorized money transfer by an employee
Employee theft or fraud

General liability insurance

This policy covers basic data science business risks, such as client injuries and client property damage. Bundle with property insurance for savings in a business owner’s policy.

BEST FOR

Slip-and-fall accidents
Damaged customer property
Libel or slander lawsuits

Workers’ compensation insurance

Workers’ compensation insurance is required in almost every state for data science businesses with employees. It can cover medical costs for work-related injuries.

BEST FOR

Employee medical expenses
Missed wages
Legal costs

Commercial auto insurance

This policy covers the cost of accidents involving a company car owned by a data science business. It also covers vehicle theft and damage from vandalism.

BEST FOR

Car accidents
Vandalism and theft
Weather damage

Looking for different coverage? See more policies.

Why do data scientists need insurance?

Whether you are researching key performance indicators or mining data from a client's database, you strive to provide exceptional service. However, a cyberattack or employee injury could expose you to financial risks. Business insurance for data scientists can help cover legal fees, medical expenses, and more.

How much does technology business insurance cost?

Several factors will have an impact on insurance costs, including:

Data science services offered
Business equipment and property
Revenue
Location
Number of employees

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