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Why do IT training companies need business insurance?
If a worker you trained causes a security breach or failed to learn certain skills, your company could face a lawsuit. Protect your IT training business with insurance that fulfills contractual requirements and covers common risks, such as lawsuits, injuries, and data breaches.
Find the right coverage
Insureon helps IT trainers find insurance quotes for coverage that matches their unique risks.
Get free expert advice and peace of mind knowing you have the right property and liability coverage for your business.
What types of insurance do IT training professionals need?
These policies cover the most common risks faced by IT training companies and consultants. Client contracts and state laws often require coverage.
Technology errors and omissions insurance
Tech E&O covers lawsuits related to your work performance, such as an employee who cannot operate a new system after training. Your clients may require you to carry this coverage.
BEST FOR
- Failure to deliver promised training
- Errors or oversights in training
- Ineffective training of IT workers
Cyber insurance
Cyber insurance helps IT training companies recover from data breaches and cyberattacks by helping to pay for recovery expenses and associated costs.
BEST FOR
- Data breach investigations
- Client notification expenses
- Fraud monitoring services
General liability insurance
This policy covers common third-party risks, such as accidental damage to a client's laptop. Bundle it with property insurance for savings in a business owner’s policy (BOP).
BEST FOR
- Client bodily injuries
- Damaged client property
- Defamation and advertising injuries
Fidelity bonds
A fidelity bond, also called an employee dishonesty bond, compensates clients if an employee at your IT training business steals from them. Clients may require your business to be bonded and insured.
BEST FOR
- Employee theft
- Fraud committed by an employee
- Unlawful data access
Workers’ compensation insurance
Most states require workers' comp for IT training businesses that have employees. It also protects sole proprietors from work-related medical bills that health insurance might deny.
BEST FOR
- Employee medical expenses
- Disability benefits
- Lawsuits from workplace injuries
Commercial auto insurance
This policy covers the cost of an accident involving a vehicle owned by your IT training company. Most states require this coverage for vehicles owned by a business.
BEST FOR
- Injuries caused by a company vehicle
- Damage to other vehicles or property
- Vehicle vandalism and theft
Looking for different coverage? See more policies.
How much does IT trainer business insurance cost?
An IT trainer who works independently will pay less for insurance than a larger business.
Average tech company insurance premiums include:
- E&O insurance: $67 per month
- General liability: $30 per month
The following factors can affect premiums during the underwriting process:
- Whether you offer online courses, webinars, or in-person training
- Business property and equipment
- Annual revenue
- Number of employees
- Policy limits and deductibles
- Claims history
How do I get IT trainer business insurance?
It's easy to get IT training 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:
- Complete a free online application.
- Compare insurance quotes and choose a policy.
- Pay for your policy and download a certificate.
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right coverage for your IT training company, whether you work independently or hire employees.
Verified business insurance reviews
Hear from customers like you who purchased small business insurance.
"Missed milestones, evolving client needs, and ambiguous deliverables can quickly lead to disagreements over performance. By setting detailed scopes of work, aligning on measurable outcomes, and maintaining ongoing communication, IT trainers can better protect themselves from potential claims."
– Jacob M., Senior Account Manager, Insureon
FAQs about business insurance for IT training companies
Find answers to common questions about business insurance for IT training companies and consultants.
Why is business insurance necessary for IT training professionals?
Whether you're a consultant, a startup, or a well-established firm with employees, your business might make a mistake that impacts clients. Miscommunications, unclear definitions of work, and tacit client expectations can all lead to lawsuits.
Errors and omissions insurance (E&O) protects against legal costs if a client sues your business over a mistake or other professional negligence in a training program. It's often required in contracts, as it protects your clients from potential losses caused by poorly trained employees.
You can often bundle E&O with third-party cyber insurance in a package called tech E&O, which covers data breach lawsuits as well. Even if your company wasn't at fault, a client might file a frivolous lawsuit in an attempt to recover costs from a data breach or other incident.
Tech E&O helps pay for legal defense costs in several scenarios, such as:
- A worker you trained in cybersecurity causes a data breach.
- A client's project fails due to poorly trained employees, causing reputational harm.
- An employee who took your course can't use the system they were trained on.
You'll also need cyber insurance, or data breach insurance, to cover data breaches and cyberattacks at your company, which are a major risk for small businesses. Cyber insurance helps pay for data breach investigations, ransomware attacks, and the cost of notifying affected clients or students whose personal information was exposed.
Are IT training companies required to have insurance?
In some cases, business insurance is required by law. Clients, landlords, and lenders might also require you to carry coverage.
Here are several situations where IT trainers must have insurance:
- You rent an office or apply for a loan. You might need general liability insurance to sign a lease or get a business loan.
- Your clients require coverage. Clients may include tech E&O, general liability, or a fidelity bond in their contractual requirements to gain protection against financial losses related to your services.
- You have employees. Most states require workers' compensation for businesses that have employees.
- You have a company car. Similarly, you'll need commercial auto insurance to comply with state laws if your business owns a vehicle.
If you hold training sessions at a client's office or other venue, they may ask you to include them as an additional insured on your policy. That way, incidents at that location are also covered by your policy.
Even when it's not required, it's important to have insurance. Without it, medical bills or legal costs from a single accident or error could potentially bankrupt your business.
Do IT training businesses need professional liability insurance?
Professional liability insurance is another term for errors and omissions insurance (E&O). You might also see it called professional indemnity insurance.
Professional liability provides crucial protection against client lawsuits, such as a claim that your IT training didn't meet industry standards. It's often bundled with cyber insurance in a policy called tech E&O, or technology professional liability insurance.
It's important to know that professional liability / E&O is a claims-made policy. To collect on a claim, this type of coverage must be active both when the incident occurred and when the claim was filed. However, it is possible to set a retroactive date to cover incidents that happened before you had coverage.
Your clients may require you to carry a professional liability policy. Regardless, it's crucial to carry this coverage due to the high cost of a potential lawsuit.
Does IT trainer insurance cover training delivered online or through an LMS?
Yes, most insurance policies cover training delivered in-person, online, and through a learning management system (LMS). However, you should check with your insurer to make sure your policy covers everything you need.
Online delivery of IT training is increasingly common, which is why it's covered under most policies. For instance, your tech E&O policy may cover the following:
- Downtime of an LMS that your clients depend on
- Vital information omitted from a module created by your business
- Security breach of an LMS or other online system
- Failure to deliver an instructional video on time
- Learners who fail to pick up crucial skills from online training
If your policy doesn't already cover live virtual sessions, on-demand content, or LMS platforms, you can ask your insurance company to include it as an endorsement.
What other types of insurance coverage do IT trainers need?
As part of a strong risk management strategy, IT trainers should consider these additional insurance products:
- Intellectual property (IP) insurance covers legal costs related to IP issues, such as a dispute over who owns IT training software developed by a contractor.
- Business owner's policy (BOP) combines general liability coverage with commercial property insurance at a lower cost than purchasing the policies separately. It protects against common third-party claims and business property damage.
- Business interruption insurance protects against financial losses from a temporary forced closure due to a fire or other covered property claim. It's also called business income insurance.
- Employment practices liability insurance (EPLI) pays for legal costs related to violations of employee rights, such as unfair hiring practices or wrongful termination.
- Directors and officers (D&O) insurance protects your board members and officers from lawsuits related to the decisions they make on behalf of your firm.
- Hired and non-owned auto (HNOA) insurance covers auto accidents involving personal, rented, or leased vehicles used by your business.
How can I save money on IT training insurance policies?
It's easy to find affordable insurance with Insureon. Our easy online application lets you compare quotes from trusted providers to find policies that fit your budget and your business risks.
Other ways to save money on business insurance include:
- Bundle policies. You can often save money when you purchase two or more types of coverage in one package, such as a business owner's policy or tech E&O.
- Customize your coverage. Choose lower limits or higher deductibles to reduce your premium, but make sure your policy can still cover a potential claim.
- Manage your risks. Claims increase your insurance rates, which is another reason to avoid accidents and injuries. Policyholders can prevent employee injuries and common customer lawsuits by reducing clutter, dim lighting, and other workplace hazards.
- Focus on cyber risks. Cybersecurity controls, such as multi-factor authentication, protect your company from data breaches, ransomware, and other cyber threats. Insurance companies often provide discounts for approved security measures.
Our agents can tailor coverage for your budget and your specific insurance needs, whether you offer employee onboarding, deep dives into niche IT certifications, or continuing education for tech workers.