App Developer Insurance: Quotes From Only $5!

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App development is a fast-paced, fun, and exciting profession and occupation. Statistics show that an average of 6,140 new mobile apps are released daily on Google Play Store. Similarly, around 3 million apps are available for download from the same platform. This means there are no signs of slowing down in the app development industry, only the other way around..

As an app developer, you know the stiff competition in the industry. The risks and exposures are also plenty, making it necessary to insure your app development venture. Also, like any other business, app development faces serious legal issues that could lead to financial losses. Therefore, by having app developer insurance, you will protect yourself against these risks and claims. Below, we will discuss the crucial details about insurance for app developers and why you should get it, as well as costs.

App Developer Liability Insurance

Generally, app developer liability insurance protects against claims against app development businesses. Furthermore, these claims might also cover property damage, bodily injury, and advertising copyright. Bodily injury is harming another person physically. On the other hand, property damage is the damage done on other people's property. All these scenarios are possible in your app development business.

For instance, you might be a mobile app developer digitally nomading with your van or camping trailer around the country while working. When your van run into another car, the victim could file a claim against your business. You will have to cover the medical expenses and all the repairs. This could be costly, especially if you are getting the money out of your pocket. You can avoid that by getting comprehensive mobile app developer insurance coverage like BOP that includes commercial auto as well. It is important to note that some insurance policies don't cover such cases. Make sure that you get a comprehensive application developer insurance coverage that protects your business against all these risks. 

When your app development business runs an ad that potentially invades the privacy of your clients, they could file a claim against you. For instance, when you accidentally reveal your client's private information in an advertisement, you could face a costly lawsuit. This is why you need a comprehensive app dev insurance policy that protects your business against such claims. By doing so, you prevent the risk of financial losses.

App Developer Insurance Cost

The average application developer insurance cost is $30 per month and $350 per year. However, this price could change depending on several factors. For instance, the type of app you develop could determine app developer insurance cost; popular apps with high download potential need higher insurance packages. Furthermore, the size of your app development business plays an essential role in determining the cost of your policy. If you have a large team of developers, you could spend more on app development insurance. In addition, the type of insurance policy you want determines the total cost as well as the coverage limits. A comprehensive insurance policy will naturally cost more than a standard one.

Application Development Insurance

Besides knowing the cost of app developers insurance, you need to know what it covers and its importance to be able to select the best policy for your business. Therefore, app development insurance coverage protects app developers from any liabilities that could occur while delivering a mobile app to their clients. As a professional app developer, you know the risks surrounding this process. Whether you are developing an app for a wide range of devices or a specific one, there are possibilities for errors. Therefore, having public liability insurance will protect your business but you need an insurance cover that will broadly protect you from all of the risks involved with your business operation.

As an app developer, it is your responsibility to ensure that you meet your client's needs by developing high-quality apps. All your products should be robust and deliver as expected. Mobile app developer insurance is meant to protect you from any of these risks while you develop and deliver your mobile app services. App developer insurance protects you from a wide range of claims, preventing unnecessary expenses.

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What App Developer Insurance Covers

App developer insurance covers a wide range of risks and claims. Here are some of them.

General Liability Insurance for App Developers

Most app developers don't interact with their clients physically. In fact, a majority of them don't have offices and run their multi-million business from their living room! However, this doesn't rule out the risk of general liability. On the day your client decides to show up in your humble office, he accidentally trips over the large hip of wires and severely injures his ankle. In that case, you need to cover their medical bills. Application developer insurance covers this claim. 

Cyber Liability Insurance for App Developers

In the world of app and software development, cybersecurity is extremely essential. For instance, a large company comes to you and requests that you set up a payment portal on their website, which holds sensitive details. Any hacker could be interested in such information, increasing the risk of a security breach. In some cases, the hackers may successfully hack the system no matter how tough your security protocols are. This could lead to the client filing a claim against you. It is important to note that lawsuits involving data breaches are extremely expensive and could cost hundreds of thousands of dollars. If you lose the case, your app development business could go bankrupt. Cybersecurity insurance policy helps pay for all or part of the settlement as well as the legal fees. 

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Errors and Omissions (E&O) Insurance for App Developers

No matter how skilled and experienced you are as an app developer, you can still make mistakes. When you make such mistakes, an E&O insurance policy is there to protect you. For instance, when you make a serious mistake when developing an app that ends up affecting your client, they could sue you for damages. Furthermore, some clients could claim you made a mistake in the app even when you know you did the right thing.

As a professional app developer, you are expected to deliver exactly what your client wants, and things don't always turn out like that. This is why you need an E&O insurance policy that protects you against such damaging claims. This policy also helps keep your business reputation intact. 

Business Owner's Policy (BOP)

This is a unique app development insurance policy that you should consider getting. This packaged policy covers liability, property, and business income along with other important areas that you may add to it. While you might not have a large building where your business is based, you need to protect your server room from cases of fires or theft. If your server room is in your garage, do not be mistaken that your garage insurance cover will fully cover the loss if you had not disclosed that you turned it into a server room. This is why it is crucial to get app developer insurance.