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For contractors in the information technology field there are a number of risks which can be addressed through insurance.
No matter how carefully, diligently and professionally you work there is always the potential that something could go wrong.
As an IT contractor this could include anything from losing someone’s data through to physically damaging someone’s property whilst you are on their premises.
Thankfully both of these risks, along with many in between, can be protected against with business insurance.
Types of Insurance
There are a number of forms of insurance available for IT contractors and consultants, and we’ll take a closer look at some of the more common types below.
Many business owners and contractors associate public liability with physical damage and injury.
As a result of this, some people therefore think that it is more relevant for someone like a tradesman than an IT contractor, but this is not the case.
There are many risks for an IT contractor that can involve property damage or personal injury, so it’s important to be covered for public liability insurance.
The good news is that IT contractors are considered a fairly low risk when it comes to public liability, and this helps to keep the premiums extremely low compared to someone like a tradesman.
This form of insurance is generally considered to be more important for an IT contractor or consultant, or any type of consultant for that matter.
As an IT contractor you will be providing skilled and/or expert services to your clients, and therefore you have a professional duty to your clients.
If one of your clients suffers a loss due to your negligence or a breach of your professional duty, you could find yourself liable for their costs.
Thankfully professional indemnity insurance can protect you and your business in this situation, and can cover both the client’s costs as well as your own legal costs.
Both professional indemnity and public liability can be combined into a single IT contractor insurance policy, which can deliver further savings to you and your business.
As well as protecting yourself against losses that your clients may suffer, it’s also important to protect your own gear.
As an IT professional you will likely have your own laptop, smart phone and other items of equipment that are not exactly cheap to replace if they are stolen or damaged.
These items can be protected with general property cover, which in most cases can be included in your overall business insurance package.
General property insurance can protect your electronic equipment from a range of risks including theft and fire damage, as well as accidental damage depending on the policy options you choose.
Quotes & More Information
Despite the name of our website we can certainly help you out with more than just public liability insurance.
If you would like more information or a quote on your IT contractors insurance needs please call our office on 1300 542 245 or complete our online quote request.