How Much Is Business Insurance
for Mobile Developers?

Mobile development small businesses can get liability insurance to cover their lawsuit risks and other major losses that could bankrupt them, but how much does small business insurance cost? Costs vary based on many factors, but let's look what the typical developer pays for their business insurance.

The cost estimates below are based on the median insurance costs of our developer clients. Your costs could be higher or lower, but these numbers give you an idea of what you might spend on coverage.

HOW MUCH IS
General Liability Insurance?

How Much Does General Liability Insurance Cost?

General Liability Insurance protects mobile and software developers from the cost of third-party (nonemployee) lawsuits over copyright infringement, bodily injury, property damage, and reputational injuries. Say a competitor files a lawsuit against your business saying your app uses colors and design features that resemble their software. You could be looking at an expensive copyright infringement lawsuit. General Liability Insurance covers court costs and lawyers' fees for these and other basic business lawsuits.

Annual General Liability Insurance premiums typically cost $425 to $429 for mobile and software developers.

Median Premiums, Limits and Deductibles on General Liability Insurance for Mobile Developers
Name USD

Median policy premium:

$425 - $429

Median policy limit:

$2 million

Median policy deductible:

None

To see how the cost of General Liability Insurance for mobile app developers compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a BOP?

How Much Does a Business Owner's Policy Cost?

A Business Owner's Policy (BOP) bundles General Liability Insurance (see above) and Property Insurance, making it a cost-effective way for a small-business owner to get two basic insurance policies for less. Property Insurance protects your equipment, computers, and other property your business owns from losses caused by fire, theft, and other risks outlined in your policy.

The typical software / mobile developer pays $500 to $740 in BOP costs per year.

Median Premiums, Limits and Deductibles on Business Owner's Policies for Mobile Developers
Name USD

Median policy premium:

$500 - $740

Median policy limit:

$2 million

Median policy deductible:

$250

HOW MUCH IS
Commercial Auto?

How Much Does Commercial Auto Insurance Cost?

If you drive to meet clients or work at their offices, you might need Commercial Auto Insurance to protect your business from the cost of an auto accident. Imagine the five-figure bill you could have for auto repairs and legal expenses after another driver smashes into your car. Commercial Auto coverage can pay for damages and lawsuits, as well as costs from being hit by an uninsured driver.

Commercial Auto policies typically begin at $1,364 a year for software and application developers.

Median Premiums, Limits and Deductibles on Commercial Auto Insurance for Mobile Developers
Name USD

Median policy premium:

$1,364

Median policy limit:

Varies

Median policy deductible:

None (liability only)

HOW MUCH IS
Errors & Omissions?

How Much Does Errors and Omissions Insurance Cost?

For developers, coders, and software engineers, Errors and Omissions Insurance is a vital way to manage your IT risk. This policy protects you from mistakes your company or its employees and subcontractors make. Testing errors, software bugs, mobile platform security vulnerabilities — any of these problems with your product could lead to an expensive lawsuit. E&O also covers your third-party cyber liability, meaning it pays for data breach lawsuits if your software gets hacked or a flaw leads to an unintentional exposure of client data.

Typically, mobile developers and software designers pay $700 to $1,635 in annual premiums for their E&O Insurance.

Median Premiums, Limits and Deductibles on E&O Insurance for Mobile Developers
Name USD

Median policy premium:

$700 - $1,635

Median policy limit:

$1 million

Median policy deductible:

$2,500

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

HOW MUCH IS
a Fidelity Bond?

How Much Do Fidelity Bonds Cost?

Developers who write mobile or enterprise software for certain industries might need a Fidelity Bond. Banks, investment firms, and other financial services clients often require developers to have Fidelity Bond coverage, which insures your clients in the event that one of your employees attempts to steal money from them or use their customer data / banking info to commit fraud.

Fidelity Bond coverage for developers typically costs between $690 and $1,824 a year.

Median Premiums, Limits and Deductibles on Fidelity Bond Insurance for Mobile Developers
Name USD

Median policy premium:

$690 - $1,824

Median policy limit:

Varies

Median policy deductible:

$10,000

HOW MUCH IS
Workers' Comp?

How Much Does Workers' Compensation Insurance Cost?

Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp) protects software development small businesses from the costs of workplace accidents, injuries, and illnesses, covering everything from carpal tunnel syndrome to back surgery. Usually this coverage is required for any software development employer. State laws mandate that you have coverage that pays for employee medical costs and reimburses them for lost wages. In addition, you can get a Workers' Comp policy that protects you from lawsuit expenses (this coverage is called Employer's Liability Insurance).

To meet state requirements and cover its employees, the typical software development firm needs to pay $414 to $871 in annual Workers' Comp costs.

Median Premiums, Limits and Deductibles on Workers' Comp Insurance for Mobile Developers
Name USD

Median policy premium:

$414 - $871

Median policy limit:

$1 million

Median policy deductible:

None

To find out more about the regulations in your state, check out our guide to Workers' Compensation Insurance New browser window icon. laws.

To see how the cost of Workers' Compensation Insurance for mobile app developers compares with other industries, visit Insureon's Workers' Compensation Insurance Cost Analysis New browser window icon..

Get Free Insurance Quotes

Free Insurance Quotes for Mobile Developers and Software Designers

For a free cost estimate on small business insurance for mobile, web app, and enterprise software developers, submit an online insurance application.

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