How Much Is Business Insurance
for Computer Repair and Installation Companies?

The cost of insurance for computer repair and installation companies depends on the size of the business, the kinds of work you do, your location, and other factors. While the cost of business insurance can vary greatly from business to business, we know that it's useful to get a ballpark estimate on the cost of your coverage.

The numbers below are the costs a typical computer repair and installation small business pays for its insurance.

HOW MUCH IS
General Liability Insurance?

How Much Does General Liability Insurance Cost?

General Liability Insurance is vital for repair and installation techs because it covers damages you do to a client's property — a risk that comes with the territory. General Liability Insurance also pays for lawsuits over third-party (nonemployee) bodily injuries and nonphysical injuries (think copyright infringement, libel, slander, etc.)

GL Insurance covers you whether you are in your own office or working in a client's space. That means that if you spill your coffee on a new computer, knock over a monitor, or tear a hole in the wall while running cable, GL insurance can cover the lawsuit.

The typical technology repair and installation business pays $425 in annual General Liability Insurance premiums.

Median Premiums, Limits and Deductibles on General Liability Insurance Policies for Computer Repair and Installation Companies
Name USD

Median policy premium:

$425

Median policy limit:

$2 million

Median policy deductible:

None

To see how the cost of General Liability Insurance for computer repair and installation companies compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Business Owner's Policy?

How Much Does a Business Owner's Policy Cost?

Through a Business Owner's Policy, computer repair businesses can get two basic business insurance policies at a discount. BOPs bundle General Liability Insurance (see above) and Property Insurance together, which means the policies cost less than purchasing them separately.

Property Insurance protects property that your business owns, such as computer equipment, furnishings, inventory, and owned commercial real estate.

The typical computer / device repair and installation business pays $500 to $537 in annual BOP premiums.

Median Premiums, Limits and Deductibles on Business Owner's Policies for Computer Repair and Installation Companies
Name USD

Median policy premium:

$500 - $537

Median policy limit:

$2 million

Median policy deductible:

$250

HOW MUCH IS
Errors and Omissions Insurance?

How Much Does Errors and Omissions Insurance Cost?

Technology Errors and Omissions Insurance protects your business from the cost of a client lawsuit related to your products and services. Perhaps most importantly, it can also cover data breach lawsuits.

Say you install computers and set up a network for a new client. If your network security software doesn't stop a new type of malware, your business could be liable (even though you didn't write the software). Fortunately, E&O Insurance covers the cost of a data breach lawsuit. E&O also covers lawsuits over problems with repairs / installations or for other disputes clients might have over your work.

Technology Errors and Omissions Insurance generally costs between $446 and $750 in annual premiums.

Median Premiums, Limits and Deductibles on Errors and Omissions Insurance Policies for Computer Repair and Installation Companies
Name USD

Median policy premium:

$446 - $750

Median policy limit:

$300,000

Median policy deductible:

$2,500

To see how the cost of Errors and Omissions Insurance for computer repair and installation companies compares with other industries, visit Insureon's Professional Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
Commercial Auto Insurance?

How Much Does Commercial Auto Insurance Cost?

As a computer installer or repair tech, you're often traveling to customer locations, which means Commercial Auto Insurance can offer you important protection. Commercial Auto policies can be customized to cover your business driving and can include coverage for damage, lawsuits, and accidents caused by uninsured drivers.

Computer repair businesses typically pay $2,288 to $2,801 in Commercial Auto Liability Insurance premiums.

Median Premiums, Limits and Deductibles on Commercial Auto Insurance Policies for Computer Repair and Installation Companies
Name USD

Median policy premium:

$2,288 - $2,801

Median policy limit:

Varies

Median policy deductible:

None (liability only)

HOW MUCH IS
a Fidelity Bond?

How Much Does a Fidelity Bond Cost?

Some of your clients might require you to have a Fidelity Bond, which insures you from damages if an employee of yours commits theft or fraud against a client. As a computer repair company, your business regularly deals with devices that contain sensitive data. If one of your employees attempts to steal money from a client's bank account, a Fidelity Bond covers the damages.

You usually only need these surety bonds when a client requires them, which is a common practice in the financial industry.

To insure a contract, Fidelity Bonds typically cost $419 to $877.

Median Premiums, Limits and Deductibles on Fidelity Bonds for Computer Repair and Installation Companies
Name USD

Median policy premium:

$419 - $877

Median policy limit:

Varies

Median policy deductible:

$10,000

HOW MUCH IS
Workers' Compensation Insurance?

How Much Does Workers' Compensation Insurance Cost?

Running a small business means you need to be aware of state regulations, including your Workers' Compensation Insurance laws. State laws usually require businesses with employees to cover them with Workers' Comp, which pays for lost wages and medical costs for employees injured at work.

Many Workman's Comp policies also come with Employer's Liability Insurance, which pays for an employer's legal expenses if they are sued over a Workers' Comp illness or accident.

Workers' Comp typically costs $553 to $903 a year for computer installation and repair companies.

Median Premiums, Limits and Deductibles on Workers' Compensation Insurance for Computer Repair and Installation Companies
Name USD

Median policy premium:

$553 - $903

Median policy limit:

$500,000

Median policy deductible:

None

To learn more about your small business insurance requirements, see our guide to state Worker's Comp laws New browser window icon..

To see how the cost of Workers' Compensation Insurance for computer repair and installation companies compares with other industries, visit Insureon's Workers' Compensation Insurance Cost Analysis New browser window icon..

Get Free Insurance Cost Estimates

Free Insurance Cost Estimates for Computer Repair and Installation Businesses

For free computer repair / installation insurance quotes, submit an online insurance application. Our agents, who specialize in IT Insurance, will customize the policies to fit your business so you end up with all the coverage you need and none you don't.

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