Computer Business Insurance for Shops & Technicians

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Operating a computer shop could be a very profitable and lucrative business given the demand for computers. However, like any other business, the computer business has its fair share of risks.

For instance, a client might get an electric shock at your business premises or by one of the products they bought at it. Your startup insurance may not cater to these costs, it is important to protect your business with computer business insurance. To help you understand the importance of a computer shop insurance policy, this guide discusses its details. We also mention what it covers and other policies under it.

Computer Shop Insurance

A computer store deals with most computer hardware problems. These include repair services for damaged computers and other electronic devices. If you operate a computer shop, you will be surrounded by laptops, desktops, flash drives, tablets, printers, keyboards, or software

All of these items are highly valuable. Due to the risk of theft and other unforeseen circumstances, securing your business with computer shop insurance is essential. This helps reduce financial losses in case of disaster.

A comprehensive computer shop insurance covers a wide range of claims. It also entails several policies. Some of them include;

General Liability Insurance for Computer Business

General liability insurance is crucial for any business. In fact, this policy is the most basic and needed by a business of any kind. With this insurance policy, your business is protected against claims for property damage and injuries. 

Your customers could file these claims against your business and demand that you compensate them in a court of law. The risk is high when operating a computer shop business. For example, if you offer computer repair services and something goes wrong, the resulting claim is covered under this policy. 

Similarly, any injuries sustained in your store are also covered. This policy covers all the medical expenses and other related costs. For instance, a client might experience a severe electric shock that paralyzes part of their body. 

This means that they can't work or go about their everyday life. In that case, you could be ordered to pay a considerable amount of money for compensation. This can be a devastating blow to your business if you don't have insurance. 

Luckily, general liability insurance also covers such cases. Furthermore, this insurance policy helps recover the loss of revenue from damaged merchandise. This could be due to an unexpected incident that damages your property.

Products Liability Insurance for Computer Business

Product liability insurance offers coverage to claims made from clients who sustain injury or damage from the product you sold them. If you sell computer accessories at your store, the risk of malfunction is very common. 

When an accessory you sell a customer malfunctions and ends up causing them damage, they can sue you for damages. In that case, this insurance policy will protect you from such financial losses. It covers all legal costs and helps you save money. 

Cyber Liability Insurance for Computer Business

Cyber liability insurance is another policy under your computer shop insurance. As a computer shop or business owner, it is important to note that your assets are more than your hardware and employees. It would help if you also protected the software of your computer business. This is why it is essential to get a cyber liability insurance for computer business. 

It protects your business against cybercrimes, such as fraud or viruses on your computer. The risk of these crimes is high, especially if you run your business store online. Similarly, your business is also at risk if you have a company website. With cyber liability insurance, you have legal and financial protection against such cases. 

Commercial Auto Insurance for Computer Business

If you use vehicles in your computer business operations, you need a commercial auto insurance policy. You could be using vehicles to deliver packages for your clients or pick up new items for your computer store daily. 

While vehicles are efficient, they come with risks. For instance, your company vehicle could get involved in an accident and cause severe injuries to the victim. In that case, commercial auto insurance will help cover the costs. This will go a long way in saving your business money. It also lets you focus on your business and not worry about various risks.

Worker's Compensation Insurance for Computer Shops & Business

Workers comp insurance policy is also very important for your computer business. In fact, most states have laws that demand businesses to have this insurance policy before getting licensed. This policy covers a wide range of claims and incidents. 

For instance, if one of your employees sustains serious injuries while working, this policy will cover their medical and recovery costs. If the injuries are too bad that the employee has to take time off to recover, this policy compensates them for lost income. 

Crime Insurance

Computer stores have valuable products that could attract the attention of thieves and shoplifters. Most computer shops face crime instances and end up losing a lot of money. Crime insurance covers such cases. You will be compensated if you lose your assets through fraud or vandalism. This is why it is essential to get a crime insurance policy for your computer business. 

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Computer Technician Insurance

As a computer technician, you are responsible for maintaining, installing, and troubleshooting software and hardware. You are also tasked with repairing damaged computers. While this is a lucrative business with good income, it has its fair share of ris`ks. 

A client can sue you if they feel you didn't do a good job on their devices. Computer technician insurance protects your computer tech business against such cases. You could lose a lot of money if a client successfully files a lawsuit against you. 

Technician Liability Insurance

As a computer technician, you could provide services that end up causing damage to your client. For instance, if a computer you repaired accidentally electrocuted your client, they could sue for damages. In that case, technician liability insurance will cover the costs. It will pay for the medical expenses and legal fees in case the matter is taken to court. 


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Computer Shop Insurance Cost

The average computer and electronic repair shop insurance cost is roughly $33 per month or $396 per year for a $1 million general liability insurance policy. Your insurance costs always vary depending on multiple factors such as the size of your business, your years in business, claim history, location and more. To get the most value for your money, simply click the 'Get Quotes' button, complete the questionnaire and compare computer business insurance quotes online from the best computer business insurance companies in the market, and find the best coverage options for the cheapest rates!

Compare Computer Business Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

In partnership with:

Identity logo

In partnership with:

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Business Insurance Updates

Small Business Insurance Checklist

2021-09-24 15:00:00

As a small business owner, you have many challenges that most people do not understand! These day to day issues can chew up your valuable time and not be at all revenue producing.

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