Technology Insurance – What does it cover?
This insurance policy was created for technology companies that have an enlarged level of risk with their daily operations. The name of the policy is deceiving, it typically does not cover technology, but it has been known to in specific cases. If your company is involved in the technology industry and has products or services that delivers within the market then this policy is for you. For example, the many corporate technology based companies on the stock market use this style of insurance to cover their software, hardware and numerous other liabilities they may carry.
Typically if your company has technology based intellectual property, this will be covered in it’s entirety, as well as the other aspects of the company. If you are confused on whether this policy is right for your company just ask one simple question – Is my company technology based?
What is included in Technology Insurance coverage?
• Data storage in warehouses
• Computer virus that may cause damage
• Small business protection
• General Liability
Who is Technology Insurance for?
Typically there are a variety of companies that can greatly benefit from Technology Insurance. Most firms that choose to purchase a Technology Insurance policy through Hockley & O’Donnell Insurance Agency are companies that are either internet-based, sustainable and green energy, IT, software, biotechnology and other companies that are highly involved with technology on a daily basis. IT is very common for you to think of internet-based companies when you think of Technology Insurance. In reality, businesses that are internet-based are just a portion of the companies seeking this policy.
If you are confused or have questions to better understand if your company would need Technology Insurance, give Hockley & O’Donnell Insurance Agency a call or email us and we can help you go over whether or not if it is appropriate coverage for your company. If so, you will quickly see how affordable rates can be and how good we are at keeping it well within budget.