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Computer Repair Business Insurance
Computer Hardware Installation / Repair
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Why do computer repair and installation businesses need insurance?
Accidental damage to a client’s computer could have major repercussions. Computer repair insurance provides financial protection against lawsuits, theft, and other risks. Some policies may be required by clients or state laws.
Find the right coverage
Insureon helps computer repair and installation businesses find insurance that matches your unique risks.
Get free expert advice and peace of mind knowing you have the right type of coverage to protect against common financial losses.
What types of insurance do computer repair technicians need?
These insurance policies cover the most common risks of computer repair.
Technology errors and omissions insurance
E&O, also called professional liability insurance, covers lawsuits over work quality, such as missing a repair deadline. You can often add intellectual property and media liability coverage.
BEST FOR
- Missed deadlines
- Failure to deliver promised repairs
- Work errors and oversights
General liability insurance
This policy covers basic risks, such as an employee spilling coffee on a client’s laptop. Bundle with commercial property insurance for savings in a business owner’s policy (BOP).
BEST FOR
- Customer bodily injuries
- Damaged customer property
- Slander and other personal injuries
Cyber insurance
A cyber liability insurance policy helps computer repair businesses survive data breaches and cyberattacks. It's recommended for any business that handles sensitive information.
BEST FOR
- Data breach legal fees
- Client notification expenses
- Fraud monitoring costs
Fidelity bonds
Fidelity bonds provide reimbursement if an employee at your computer repair shop steals from a customer. They're also called employee dishonesty bonds.
BEST FOR
- Unlawful data access by an employee
- Illegal electronic funds transfer
- Other employee theft or fraud
Workers’ compensation insurance
Most states require workers' comp for computer repair businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
BEST FOR
- Employee medical expenses
- Disability benefits
- Legal costs from employee lawsuits
Commercial auto insurance
Commercial auto insurance can pay for property damage and medical bills in an accident involving your computer repair van. It also covers theft and certain types of damage.
BEST FOR
- Car accidents
- Vandalism and theft
- Weather damage
Looking for different coverage? See more policies.
How much does computer repair business insurance cost?
A small computer repair shop with a few workers will pay less for insurance than a large repair store.
Factors that affect insurance costs include:
- Computer repair and installation services offered
- Business property and equipment
- Number of employees
- Business size and income
- Types of business insurance coverage purchased
- Policy limits and deductibles
How E&O insurance protects your business
View video transcript.
No, no, no! My client's network was working just fine last week!
You made a mistake, yeah, you made a mistake. You made a mistake, and it doesn't matter what you say. You missed the boat, now you will have to pay!
Actually, you have errors and omissions insurance. It covers legal costs if you make a mistake and your client sues you.
Mistake! Mistake! Ohhh, this was a mistake! Mistake! Mistake! Ohhh, this was a mistake!
You can get all the coverage your business needs by following this link. Protection is peace of mind!
How do I get computer repair and installation business insurance?
It's easy to get computer repair and installation business insurance if you have your company information on hand. Our insurance application will ask for basic facts about your small business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application.
- Compare business insurance quotes and choose policies.
- Pay for your policy and download a certificate.
Insureon's licensed agents work with top-rated U.S. providers to find coverage that fits your repair shop, whether you work independently or hire employees.
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Common questions about insurance for computer repair businesses
Review frequently asked questions (FAQs) about computer repair and installation insurance and more.
Why is business insurance necessary for computer repair companies?
Computer install and repair business owners might think their business is low-risk compared to others. However, handling a client's computer and data could lead to a devastating lawsuit, even if you're just starting your business or are well established.
Here’s a closer look at some key computer shop insurance products and why you should carry them:
- Technology errors and omissions insurance, sometimes called tech E&O or tech professional liability insurance, is a bundle of E&O with cyber insurance. This policy can help you with legal fees and court costs if a dissatisfied client sues you over your work performance or third-party cyber incident. It covers the cost of customer notification, credit monitoring, legal fees, and fines.
- Commercial property insurance covers your business location, building, and equipment if it's damaged, lost, or stolen. This policy is often bundled with general liability insurance in a business owner's policy (BOP) to save money. Should your machinery or equipment suffer a mechanical or electrical failure, equipment breakdown coverage would provide the funds to repair or replace the damaged equipment.
- Electronic data processing (EDP) insurance covers electronic devices such as computers, storage devices, and the data they contain. Also known as computer coverage or data processing coverage, EDP insurance can help protect your business income.
- Inland marine insurance provides coverage for business property, such as products, materials, and equipment, while it’s in transit over land or stored at an off-site location. Additionally, tools and equipment insurance helps pay for the repair or replacement of tools and equipment if they're lost, stolen, or damaged. The items typically must be less than five years old
- Business income insurance, also known as business interruption insurance, offsets your lost income when your business is forced to close because of a covered peril, such as property damage. These funds help you cover your normal operating expenses until you can resume business operations.
Are computer repair shops required to have insurance?
While many policies aren't required by law, computer installation and repair companies can protect their businesses and qualify for contracts and leases by carrying the right insurance coverage. For some businesses, workers' compensation and commercial auto insurance may be required.
Typically, computer repair business owners will apply for general liability insurance first. This policy is a key component of a business plan and helps cover common business risks such as customer injuries, damage to a customer’s property, and advertising injuries.
Even small PC repair businesses are vulnerable to the same exposures and lawsuits as larger businesses. This is another reason why you should consider business insurance for computer repair companies.
In order to accept certain contracts, you may need to have a fidelity bond, which reimburses the client if one of your employees commits fraud, theft, or forgery.
Do computer repair businesses need professional indemnity insurance?
Like most other tech companies, computer repair service businesses aren't required by law to carry professional indemnity insurance. However, it should be a key component of your business's risk management plan.
Professional indemnity insurance, also called professional liability insurance or errors and omissions (E&O) insurance, protects you in the event a client files a lawsuit against your computer repair business for an error, mistake, or professional negligence.
You can bundle professional liability insurance for computer repair businesses with cyber insurance into a technology professional liability policy, which is more commonly referred to as tech E&O. This would be a more affordable insurance option, than purchasing the policies individually.
How can I save money on computer repair business insurance?
There are many steps you can take to get affordable commercial insurance coverage that meets your insurance needs.
Start by comparing free business insurance quotes from leading insurance companies through Insureon’s online application. If you're unsure what computer repair business insurance policies you need, our licensed insurance agents can help make sure you get the right, most affordable coverage.
Most small businesses can get insured and download a certificate of insurance within hours of applying for quotes.