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Internet or Web Application Developers

Insurance for web application developers is one unique area of interest, but it comes with increased risk.

Not all web application businesses are the same (your company may also be an application service provider, for example, in addition to providing development services), which means your company may face exposures and risks that your peers do not. As a business owner, you can customize your tech insurance policies to suit your needs—adding extra endorsements that you need and cutting excess coverage. Below is a list of the most commonly purchased coverages in your industry:

  • General Liability Insurance. This is the backbone of any solid tech insurance plan: it protects you from the most common business liability claims: physical injury, personal injury, and property damage. General Liability lawsuits come from people outside your business (including clients) and helps cover expenses like legal defense, medical bills, judgments, and settlements.
  • Business Property Insurance. When unexpected events (fire, theft, tornadoes) wreak havoc on your business property (rented or owned office space, furniture, computer equipment, software), this coverage steps in to help you pay for replacement or repair. This policy is often bought at a discount with General Liability Insurance.
  • Cyber Liability Insurance. All web developers need this coverage because their products are extremely vulnerable to corruption and malicious activity. Pair that with the sensitive information apps often need to run, and you have a recipe for disaster. Most companies are safe with first-party coverage, but IT businesses like yours should generally purchase third-party coverage as well.