1
General Liability Insurance
Covers many third-party claims involving bodily injury, property damage, and advertising injury. For example, a client gets injured at your office.
Third-party claimsThe eight core coverages
Most business insurance programs are built from these. Requirements vary by state, industry, and contract.
2
Professional Liability (Errors & Omissions)
Protects against covered claims that your professional services, advice, or work caused a client's financial loss. Important for IT consulting, bookkeeping, web design, and managed services.
Services & advice3
Workers' Compensation
Helps cover eligible employee work-related injuries, including medical expenses and lost wages. Requirements depend on state law and business circumstances.
Employees4
Cyber Liability Insurance
Helps cover certain cyber incidents, data breaches, ransomware events, recovery costs, and related liability, depending on the policy.
Data & systems5
Commercial Property Insurance
Protects covered business property, such as computers, equipment, furniture, and buildings, against specified losses.
Your property6
Commercial Auto Insurance
Covers certain vehicle-related business risks. Often necessary for company-owned vehicles and some business vehicle uses.
Vehicles7
Directors & Officers (D&O) Insurance
Helps protect company directors and officers against covered claims alleging wrongful decisions or management acts.
Leadership8
Product Liability Insurance
Covers certain claims involving injuries or property damage caused by defective products. Relevant if your business sells hardware or other products.
Products & hardwareOther important types of insurance
These fill gaps around the core coverages, or respond to a specific obligation such as a contract, a license, or a benefit plan.
| Insurance type | What it protects |
|---|---|
| Umbrella / Excess Liability | Adds liability limits above certain underlying policies |
| Employment Practices Liability (EPLI) | Claims involving discrimination, harassment, wrongful termination, and similar employment issues |
| Crime Insurance | Certain employee theft, fraud, and other covered crime losses |
| Business Interruption | Certain lost income and operating expenses after a covered disruption |
| Fidelity / Employee Dishonesty Bond | Protection against specified dishonest acts, depending on the bond |
| Surety Bonds | Guarantees certain contractual, licensing, or legal obligations |
| Key Person Insurance | Helps a business manage financial consequences of losing a critical person |
| Inland Marine Insurance | Covers certain equipment, tools, or property while in transit or away from business premises |
| Fiduciary Liability | Protects against certain claims involving administration of employee benefit plans |
| Commercial General Liability for Contractors | Liability coverage tailored to qualifying contracting operations |
Which insurance should an IT or MSP company carry?
For an IT business providing managed services, cybersecurity, migrations, hardware sales, and technical support, we would prioritize these five.
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General liability
Third-party bodily injury and property damage claims.
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Professional liability / E&O
Errors in IT work, migrations, configuration, or consulting.
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Cyber liability
Cyber incidents, breach response, and covered liability.
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Workers' compensation
Employee workplace injuries where required.
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Umbrella / excess liability
Higher liability limits when client contracts require them.
Not sure where you land? The order above is a starting point, not a rule. Your contracts, headcount, vehicles, and the data you touch all change the answer.
Important: contract requirements
Some client contracts require specific limits, such as $1 million per occurrence for general liability or professional liability, and may require the client to be listed as an additional insured.
Requirements vary by contract and policy. Coverage is subject to the terms, conditions, and exclusions of the issued policy, and not every exposure described here is covered by every policy.
Ready to review your coverage?
Bring us your current declarations page or a client contract with insurance requirements, and we will tell you what is already covered and what is missing.