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Tech Insurance in Georgia| What's Covered and What's Not

Feb 29, 2024

Insurance

Tech Insurance in Georgia Tech Insurance in Georgia

Every small and medium-sized tech company has a financial budget that determines what they can afford to spend on their company's operational resources and staff. Therefore, many consider having technology insurance in Georgia a burdening step in their financial planning that may not offer them instant benefits. 

Technology plays a critical role in corporate operations by enabling online transactions and storing sensitive data. But if you deal directly with providing tech services like software development or server hosting, you need to have tech insurance, as increasing tech dependence on technology raises liability risks due to data breaches or error concerns. At J & A Insurance Agency Inc., we can assist with the placement of proper tech insurance that will enhance the security and comfort that ensures proper coverage for your liabilities as per your company's needs. 

The essentiality of having tech insurance if your business provides tech services

 Tech insurance is essential for every tech service company, whether you are dealing with digital marketing or providing IT services. You must recognize the importance of reducing financial losses in case the system breaks down or there is a data breach due to a cyberattack, or an error is made with the professional services offered. You can’t change these unpredictable things. 

 We will guide you with the placement of the right insurance policies to guard against your liability exposures and claims that can result. Coverages that we can offer range from commercial general liability insurance in Georgia, professional liability insurance/errors and omissions coverage in Georgia, workers comp. insurance in Georgia, and even commercial auto insurance in Georgia. Amongst the insurance protections provided can include the reduction in interrupted operations during covered downtime as an example. Since tech insurance has a variety of coverage options, you should know what your tech insurance plan can include.

What insurance coverage your tech company may need?

 Insurance for covering technology errors and omissions

 Every tech company should consider getting an errors and omissions insurance policy to pay for legal defense and other associated expenses when your client files a lawsuit. Your tech service might have caused a major network crash in their IT infrastructure or any product malfunction, causing the client a major financial loss. E&O insurance should be your primary priority when paying for coverage to guard against your business’ potential liability exposures. It is one of the most essential coverage options that you should consider purchasing as part of your Georgia tech insurance plan. 

Security against cyber liability

If there is any such event where private customer data is compromised, your business may have to pay litigation charges. You’ll want to be sure to have cyber liability insurance to protect your business or organization against financial loss arising from cyberattacks and data breaches. We are a top Georgia independent insurance agent that can provide you with customized terms and can include coverage for public relations management costs. Our service can help you save more by adding tech and IT product liability to your overall insurance program. 

 Insurance coverage for loss of business income

 When you are running a business, regardless of whether you are a tech service provider or not, you should consider adding loss of business income/extra expense coverage to your insurance program. This can often be accomplished via an endorsement/add on to your existing commercial general liability policy, OR if you have a Business Owners Package Policy (ie. BOP) it may already be included. Business Income/Extra Expense coverage will typically cover the loss of income that your business sustains due to a covered Property loss (ie. claim) for a specified period of time up to the policy limits. Working with independent insurance agents in Georgia can ensure that your policy includes this vital coverage. 

Workers Compensation coverage

If any of your employees sustain an injury or illness at the workplace, having workers compensation insurance will protect your business against possible substantial expenses including potential costs of litigation. The insurance will pay for medical expenses, any lost income, or disability. Check for local regulations to comply with your local laws regarding mandatory workers’ compensation insurance in Georgia

 Business General Liability coverage

 General liability insurance helps protect your business or organization against the possible liability exposures that can result when a 3rd party sustains bodily injury or property damage as a result of your business operation, as well as premises liability at your business’ location. Additionally coverage is typically provided for Personal and Advertising Injury which helps guard against potential claims due to alleged advertising and copyright violations. Our independent insurance agents in Atlanta can help you find the right policy that can help protect your business against third-party claims. It is not just specific to tech operations but your overall company operations. Moreover, we can help make it cost-effective, providing commercial property and umbrella coverage as well. 

Summing Up!

Now you know why you must have tech insurance in Georgia if you are operating a business in the technology or IT industry. Having appropriate tech insurance in place will empower you to protect yourself against fulfilling any unpredictable liabilities, whether from third-party clients or cyber security threats. 

Follow through the above content to understand which financial liabilities your tech insurance policy may cover and which it won’t, then reach out to your agent, or contact the offices of J&A Insurance Agency Inc. for assistance with the placement of proper coverage for your business or organization. We are a top tech insurance independent insurance agent in Georgia, ready to assist your company in navigating through the many complexities in technology insurance. Let us ensure that you have an adequate financial safety net as you grow in the evolving tech world. Call (678)266-3353 or email us at info@jainsuranceagency.com TODAY!

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