Running an IT firm requires a substantial amount of investment, and the resources that are poured into this type of business ought to be protected whenever possible. IT business insurance policies help firms in Massachusetts shield themselves from a range of covered risks.
IT business insurance policies are specially designed commercial policies that have been tailored to meet the needs of information technology firms. In order to provide firms with the many protections they need, most of these policies come as package policies that have multiple protections within them.
Generally speaking, most Massachusetts businesses that provide information technology services ought to carry technology insurance. Almost everyone in the industry is exposed to at least some risk that insurance can help protect against, and this is normally the most appropriate type of insurance for these businesses.
A few examples of businesses that might want a technology policy include:
Businesses that are unsure whether this insurance makes sense for them can speak with an insurance agent who specializes in technology policies. After reviewing a business’ particular risk exposure and activities, a specialized agent will be able to make an informed recommendation for the business.
Depending on its terms and conditions, a technology insurance policy might make coverages like following available as standard or optional protections:
There are still more coverages that could be available to a business, and the exact coverage options offered vary from policy to policy. Firms can get help selecting the coverages that make sense for them by talking with an insurance agent who specializes in these policies.
Business income coverage, which is sometimes called business interruption coverage, is a basic protection that many businesses both within and outside the information technology sector can benefit from. The coverage normally provides supplemental revenue in the event that a disaster causes a prolonged delay in operations.
Most IT firms should think about carrying this coverage, and they ought to consider carefully how far its protections extend.
Specifically, IT firms might want business income coverage that extends protection not only to events that directly impact the firm itself but also events that impact a critical partner. For example, a firm that relies on a cloud service provider might want coverage that will provide supplemental revenue if that cloud provider’s operations are interrupted.
An insurance agent who’s familiar with the details of technology insurance can help firms evaluate their precise business income coverage needs.
For help insuring an IT firm, contact the independent insurance agents of Haberman Insurance Group. Our Massachusetts agents have the freedom necessary to show you IT business insurance policies from several insurance companies, and they have the expertise required to help you select the best available option.