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Why do telecom companies and internet service providers (ISPs) need insurance?
Telecom work is demanding, and one accident or lawsuit can make it even harder. Business insurance guards against unexpected losses and expenses from employee injuries, damage caused by an installer, and other risks.
Find affordable coverage
Insureon helps you compare commercial telecommunications insurance quotes from top-rated providers.
Fill out our easy online application to get free quotes for liability and property coverage. Our licensed insurance agents will make sure you get the right coverage at the best possible price.
What types of insurance do telecom and ISP installers need?
These policies cover common risks in the telecommunications industry.
Technology errors and omissions insurance
Technology E&O, also called professional liability insurance, pays for legal expenses related to work quality, such as a lawsuit over disrupted services. You can often add intellectual property and media liability coverage.
BEST FOR
- Missed installation deadlines
- Accusations of negligence
- Telecom outages
Cyber insurance
This policy is important for telecom companies that store sensitive customer data. It helps cover costs related to data breaches and cyberattacks.
BEST FOR
- Customer notification expenses
- Fraud monitoring services
- Data breach investigations
General liability insurance
This policy covers basic telecom business risks, such as a client tripping over a wire. Bundle with commercial property insurance for savings in a business owner’s policy (BOP).
BEST FOR
- Slip-and-fall accidents
- Damaged customer property
- Libel and slander lawsuits
Fidelity bonds
Fidelity bonds are also called employee dishonesty bonds. They compensate a telecom company's clients if an employee steals from them, and are often required by contracts.
BEST FOR
- Employee fraud
- Unauthorized funds transfer
- Other employee theft
Workers’ compensation insurance
Most states require workers' comp for telecom 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
- Lawsuits from work-related injuries
Commercial auto insurance
Commercial auto insurance covers property damage and legal expenses in an accident involving a telecom vehicle. It can also cover vehicle damage and theft.
BEST FOR
- Business auto accidents
- Vehicle vandalism and theft
- Weather damage
Looking for different coverage? See more policies.
How much does telecommunications insurance cost?
A telecom company with a few workers will pay less for insurance than a large company with a dozen employees.
Factors that affect telecom insurance premium costs include:
- Services offered, such as antenna and communication equipment installation
- Business property
- Business income
- Types of small business insurance purchased
- Insurance policy limits and deductibles
How do I get telecom business insurance?
It's easy to get business insurance for telecommunication consultants, IT consultants, and cable installers if you have your company information on hand. Our insurance application will ask for basic facts about your 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 insurance quotes and choose policies
- Pay for your policy and download a certificate
Insureon's licensed agents work with top-rated U.S. insurers to find coverage that fits your telecommunications business, whether you work independently or hire employees.
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Common questions about telecom and internet service provider (ISP) insurance
Review answers to frequently asked questions (FAQs) about insurance for telecommunications companies and more.
Why is business insurance necessary for telecom companies?
As a telecom professional, you might think your business is low-risk compared to others. However, a frivolous lawsuit can still have a serious impact on your business, even if you're just starting your business or are well established.
Here’s a closer look at some key insurance products and why you should carry them:
- Technology errors and omissions insurance, sometimes called tech E&O, tech professional liability insurance, or telecommunications 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 property 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.
- 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 coverage, offsets your lost net 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 telecom and communication equipment businesses required to have insurance?
While many policies are not required by law, telecommunications 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, telecom business owners will apply for general liability insurance first. This policy helps cover common business risks such as customer injuries, damage to a customer’s property, and advertising injuries.
Even small telecom and fiber businesses are vulnerable to the same exposures and lawsuits as larger businesses, which is another reason why you should consider business insurance for communication equipment installer 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 telecom and communication equipment installers need professional indemnity insurance?
Technology companies, including telecommunications firms, aren't required by law to carry professional indemnity insurance, however, it's a smart move when building a risk management plan for your business.
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 telecom equipment business for an error, mistake, or professional negligence.
Specifically for telecom companies and other technology businesses, you can bundle professional liability coverage 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 telecom installer liability insurance option, than purchasing the policies individually.
How can I save money on telecom business insurance?
There are many steps you can take to get affordable 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 communication equipment installer 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.