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Get Singapore's best insurance for IT Companies. Broad cover from business lawsuits, employee injuries, property damage, & more.
Whether you’re an IT consultant, a software developer, or a web developer, you’ll need insurance to protect your business. IT companies insurance from Provide starts with professional indemnity insurance, so that you’re protected from lawsuits. You’ll also want to cover yourself against staff injuries and Covid-19 infections, public liability, and employee theft.
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Buy IT Companies Insurance Package
from just $19/month
- Commercial Property Insurance
- Public Liability Insurance
- Business Interruption Insurance
- Work Injury Insurance
What types of insurance do IT companies need?
|Cover||Explanation||Importance for IT companies|
|Professional indemnity insurance||Covers negligence, errors and omissions, professional mistakes that result in lawsuits||Critical|
|Cyber liability insurance||Covers liability from cyber attacks that expose your customers/clients data||Critical|
|Directors & officers (D&O) insurance||Covers personal lawsuits against directors and officers||Critical|
|Work injury compensation insurance||Covers work-related injuries/sickness, including Covid-19 infections|
Legally required for manual workers
Critical for office workers
|Commercial property insurance||Covers fire, water damage, burglary, etc.||Critical if you rent commercial property|
|Public liability insurance||Covers customer injuries, and third-party property damage (e.g. during renovations)||Critical if you rent commercial property|
|Machinery and equipment insurance||Covers sudden breakdown of IT equipment (e.g. servers)||Good to have|
Professional indemnity insurance
Professional indemnity insurance is absolutely vital for IT companies. Whether you develop software, work on cybersecurity, or perform IT-related activities for clients, there is significant legal liability if you make a mistake and clients suffer losses. Professional indemnity insurance will protect IT companies from lawsuits related to negligence, errors and omissions, IP infringement, and more.
Commercial property insurance
If you rent an office for your IT business, commercial property insurance will protect your business premises. Commercial property insurance will cover you against major risks like fire, water damage, and burglary. It covers your office contents like computers, business inventory, furniture, and other belongings.
Public liability insurance
Public liability insurance will protect you from liability for injuries/property damage to third-parties. For instance, if you work on equipment that belongs to your clients and end up damaging it, they can hold you legally liable for the costs to repair or replace it.
How much does IT companies insurance cost?
|Cover||Coverage amount (example)||Typical premium|
|Professional indemnity insurance||$100,000||From $42/month|
|Cyber liability insurance||$250,000||From $49/month|
|Directors & officers (D&O) insurance||$100,000||From $49/month|
|Work injury compensation insurance|
$10 million common law annual limit
$45,000 medical expenses cover
|From $5/month, per worker|
|Commercial property insurance||$100,000||From $9/month|
|Public liability insurance||$250,000||From $9/month|
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Why use Provide for IT companies insurance?
- Save up to 25% on your premiums
- Broad coverage from renowned insurers
- Industry experts with 20+ years combined experience to provide tailored advice
- Available by phone 7 days/week