Technical Writing Business Insurance
Getting insurance for your technical writing business is essential.
Technical writing businesses need to be protected against claims involving things that could reasonably occur, such as negligent acts, data breaches, and contract disputes.
For example, a writer may miss an important deadline for a client, or your business may suffer a cyberattack that puts your clients’ and employees’ personal information at risk.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Technical Writing Business
General liability insurance is — generally speaking — one of the most important insurance policies for a technical writing business.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Having said that, your business will likely benefit from purchasing additional coverage. This is because general liability may not adequately protect you from all of the risks a technical writing business will face.
Additional coverage options include:
- Errors and omissions (E&O): This is also known as professional liability insurance and will protect you from negligent acts or omissions caused by you or an employee in your business.
- Cyber liability: Since you’ll be handling clients’ sensitive information, getting cyber liability coverage can protect you against data breaches and/or hacks.
- Workers’ compensation: This might be a legal requirement depending on your state and whether you hire employees, and will protect your business from employment law-related disputes.
- Fidelity bonds: These cover your customers in cases where an employee steals from them and can actually be required by individual clients.
Generally speaking, you will be able to pick between two types of insurers when getting your coverage (i.e., online insurers or traditional brick-and-mortar insurers.).
Both come with their own pros and cons; online insurers are generally better for smaller and new businesses because they offer personalized coverage at a lower rate due to the lower overhead involved.
This is because quotes are automated online, so no insurance agent needs to be used.
Find the Right Policy at the Best Rate
We’ve reviewed and tested the major business insurance providers. Let us help you find the best match for your business.
Cost Of General Liability Insurance
The average technical writing business in America spends between $300-$600 per year for $1 million in general liability insurance coverage.
Compare the average cost of general liability insurance for a technical writing business to other professional industries using the graph below:
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Finding the most affordable premium starts with getting accurate quotes from highly rated providers.
Common Situations That General Liability Insurance May Cover for a Technical Writing Business
Example 1: A client slips and falls on ice in your parking lot and is rushed to the hospital. He is suing your business for $76,000 to cover medical bills and other related damages. General liability insurance would pay for your legal representation in court, as well as any damages awarded.
Example 2: Your client has asked for help with a technical issue. While their laptop is in your possession, you drop it, damaging it beyond repair. Your general liability policy would help cover the cost to repair the $3,800 laptop.
Example 3: Your new website features a photo that is protected under copyright law. If named in a copyright infringement lawsuit, your general liability insurance would help cover related attorney’s fees and/or a court-ordered judgment.
Check out our review of the Best Small Business Insurance Companies.
Other Types Of Coverage Technical Writing Businesses Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of.
Professional Liability Insurance
Lawsuits stemming from your work, including failure to deliver promised services, oversights and mistakes, and professional negligence, are specifically excluded without a professional liability insurance policy. Also known as Errors and Omissions (E & O) insurance, this policy helps reduce the potential for coverage gaps, covering resulting legal costs and court-awarded damages.
Home-Based business insurance
Business property and business-related losses are specifically excluded on most standard homeowners insurance policies. To ensure proper coverage, a home-based business insurance policy may be necessary to protect your property in the case of damage or loss to commercial property in a covered event.
Commercial Property Insurance
If you choose to work outside the home, a commercial property policy may be a necessary part of your insurance portfolio. This policy covers the cost to repair and/or replace damaged property, including owned real estate and business-owned property, should a covered loss occur on your business premises.
Data Breach Insurance (aka Cyber Attack insurance)
Your profession requires you to work with technology regularly. Unfortunately, this can make you a target for online hackers, an loss that is specifically excluded on a general liability insurance policy. Data breach insurance helps fill that coverage gap, paying damages from a data breach that results in stolen user data.
Workers’ Compensation Insurance
Once your business has grown enough to hire a team, you will be required by the state to carry workers’ compensation insurance. This policy covers an employee if they are injured or fall ill while on the job. In addition to their medical bills, it can cover lost wages and legal representation for the business owner, if a lawsuit is filed.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your bounce house business:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Business Insurance is the Best Way to Protect Your Business
If you're starting a new business, then you need business insurance. It's as simple as that. The protection offered by an LLC will protect your personal assets, but your business's assets are still open to liability in the case of a lawsuit or other loss.
Be sure that everything you've built is safe by getting business insurance.
Technical Writing Business Insurance FAQ
Can I buy business insurance online for my technical writing business?
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
What is included in a business owner’s policy?
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
What is the difference between business insurance and general liability insurance?
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Do I need insurance before I start a technical writing business?
Most likely, yes. Getting insurance for your technical writing business will be a requirement if you hire writers as employees (depending on your state), which you may need to do.
Even if this is not the case, we recommend getting your coverage as soon as possible because there’s no way of accurately predicting when you will need it.
Will insurance protect my technical writing business from everything?
Not necessarily. Certain exceptions may be written directly into your technical writing business insurance policy, and some perils may be entirely uninsurable.
Do I need business insurance if I already have an LLC?
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.