Business insurance for IT contractors

AXA’s business insurance for IT contractors will protect your company against claims made by clients, helping you cover legal and compensation fees.

As an IT contractor, you’re the person others trust to keep their business going. Whether it’s devops, infosec or blockchain, your cutting-edge skillset means you’re often in high demand.  On top of that, you’re managing your finances, building a network of contacts and on the lookout for your next big contract.

The buck stops with you. You trade on your professional reputation, and your clients rely on your expertise. That’s why it’s important to be insured. Things can go wrong and mistakes can happen. If a claim is made against you, you can’t afford to be hit with hefty legal bills and no protection.

At AXA, you can tailor our business insurance to meet the needs of your IT contracting business. It’s essential peace of mind, so you can get back to being busy.

What insurance does an IT contractor need?

It’s important that you protect your business against claims. But different businesses need different things. There are a few things to think about; what you do, where you do it, and how you do it.

Here are a couple of things to consider:

• Professional indemnity insurance
  Give bad service or advice to a client that ends up in damages, or costing them? Professional indemnity insurance will protect you – it’ll cover against legal fees, expenses and compensation costs that come up.
• Public liability insurance
  Protect your business against costs to cover legal fees and damages from claims. If you accidentally damage equipment or cause accidental injury to your client or their employees, this will keep you covered in case of legal fees.
• Business equipment insurance
  It might also be worth considering business equipment insurance, if you have a computer you work from. Likewise, if you have an office, then you could protect your chairs, computer and any other furniture.

Can I get professional indemnity insurance as an IT contractor?

Yes, you can. Professional indemnity insurance will cover IT contractors against claims of professional negligence. In your line of work, you’ll be called upon to provide advice, design or recommendations to clients.

And if one of your recommendations is found to have caused a financial loss for a client, this can cover legal fees and compensation costs.

Examples of times you’d need professional indemnity as an IT contractor:

• Breach of contract: You’re responsible for providing a new system by a certain deadline, but the project deliverable does not conform to what was agreed in the contract. The client holds you responsible for additional costs and makes a claim against you.
• Negligence: After the project is complete, the client says the new system isn’t able to be used because the software you’ve supplied wasn’t fit for purpose. The client then takes legal action against you to recover the costs to sort the issue.
• Intellectual property: A photographer claims that you’ve used images that belong to them without permission on your website and takes action against you for breach of copyright.

Why choose AXA IT contractors’ insurance?

With us, you’re in control. You can tailor your business insurance to fit the needs of your IT company. Choose from public liability, professional indemnity and employers’ liability insurance – and add optional covers for business equipment or breach of confidentiality. Choose what you want and pay for what you need – not what you don’t.