Business Insurance for Tech Businesses
Tech businesses ship products that power other businesses — and when something breaks, the liability can be massive. The right insurance stack protects your company, your clients, and your runway.
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Coverage Types for Tech Businesses
These are the key insurance policies most relevant to your business type — ranked by importance.
Technology E&O / Professional Liability
RequiredCovers claims arising from your software or services failing to perform as promised — bugs, outages, missed SLAs, data errors. This is the most critical coverage for any tech company selling a product or service.
Cyber Liability
RequiredCovers data breaches, ransomware attacks, and network security failures — including client notification costs, regulatory fines, and third-party liability from a breach of your systems. Essential for any company handling customer data.
General Liability
Highly RecommendedRequired by most co-working spaces, enterprise clients, and government contracts. Covers bodily injury and property damage arising from your business operations — even a slip-and-fall at a client meeting.
Directors & Officers (D&O)
RecommendedProtects founders and executives from personal liability arising from business decisions, investor disputes, and regulatory actions. Critical once you take on investors or have a board.
Workers' Compensation
RequiredRequired in most states for any tech company with employees. Covers repetitive stress injuries, ergonomic claims, and workplace accidents — even for primarily desk-based teams.
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What You Need to Know
- →Tech E&O (Technology Errors & Omissions) is the foundational coverage for any company selling software, SaaS, APIs, or IT services — general liability alone does not cover failure-to-perform claims.
- →Cyber liability is increasingly required by enterprise procurement and SOC 2 audits — treating it as optional is a business risk for any B2B tech company.
- →Most VC term sheets and enterprise MSAs now require minimum insurance limits — review your contract obligations before choosing coverage limits.
- →IP infringement claims (patent, trademark, copyright) can be covered under some tech E&O policies — verify before purchase if IP risk is relevant to your product.
- →ERGO NEXT covers technology businesses, IT consultants, SaaS companies, and software developers with instant online quotes.
What Does It Cost?
Solo tech consultants: $75–$150/month for GL + E&O. SaaS startups with a small team: $200–$400/month. Companies handling sensitive client data add cyber liability which typically runs $100–$250/month additional.
Frequently Asked Questions
Frequently Asked Questions
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