If you work as an IT contractor, then it is important that you have the right kind of business insurance. There many different kinds of business insurance out on the market today which can make it somewhat confusing trying to decide which kind that you need. When putting together an IT contractor insurance policy, there are certain covers you’ll want to have.
Professional Indemnity Insurance should be part of your policy. This will provide financial protection in the event that a claim is made against you. These claims would have to do with professional advice that you have provide your client. By following your advice the client will might have sustained some sort of loss. This will cover the cost of legal defense as well as any damages that you might be responsible for paying.
Another sort of cover that you’ll want as part of your policy is known as IT contractor business liability insurance. This is different than professional Indemnity Insurance. Public liability insurance would cover any situations in which a client, contractor or third party is injured or receives damage to their properties.
Office Insurance should be included as it will protect home or small businesses based out of an office. This will protect you if your equipment is damaged or stolen. You can also add specific coverage for specialty items within your office. They use for instance can include laptops.
Another type of cover that is specifically tailored to IT contractors is known as e-risks insurance. This is specifically designed for most small businesses. It would offer the business protection against risks from using the Internet. For instance situations where your computer system as wiped out due to a virus would be covered. This type of cover would also protect you from hackers as well as electronic ID theft.