Having a General Liability policy in place is one of the simplest and most effective ways to ensure that your web design or development business has minimal exposure to risks related to lawsuits.
Just by being a small business owner, you face the risk of losing everything you’ve worked for if something happens that results in a lawsuit that wipes out your financial assets. General Liability is the most practical way to protect against that major concern.
However, some common things you worry about that could lead to a lawsuit are typically not included in the coverage of a General Liability insurance policy. Have you ever thought about the risks you’re exposed to should any of these situations occur?
- You miss the launch date deadline by two weeks, only to discover that your client ran an ad campaign announcing the launch date.. This would result in both a loss of the ad expense and a loss of revenue.
- You rewrite the content of your client’s home page,but neglect to get their written approval before taking the content live. A misrepresentation of the client causes financial repercussions with their customers, for which they in turn hold you responsible.
- You accidentally delete your client’s graphics or production files, which they contractually paid for and own. When they decide to change their site graphics or website design and can’t without the production files, they file a claim for the full contract amount.
In these situations, a General Liability insurance policy would not provide coverage unless property damage or bodily injury occurred in addition to the financial damage. A Technology Professional E&O policy, on the other hand, is designed specifically for claims related to financial damage without accompanying bodily, personal, or property damage.
When your clients depend on your services to operate effectively and profitably, any mistake or error you make can put you at risk of a lawsuit. Having both General Liability and Technology Professional E&O gives you complete protection for your business.
Website developers and designers face tremendous financial exposure by limiting business insurance coverage to a General Liability policy only. Buying both a General Liability insurance policy and a Professional Technology E&O policy for as little as $1100 or with monthly payments as low as $110 can give you peace of mind.
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