That smartphone you bought from the mobile phone shop is useless without telecom providers. Telecom companies install and maintain the towers providing cellular signal people use to surf the internet, use mobile applications, and contact peers by texting or calling.
Consider insuring your telecom company. Telecommunications insurance offers a safety net, covering various aspects of your operations. This article explores the key insurance policies for telecommunications companies and highlights the top insurance providers in the industry.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $500,000/$1,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $100,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | No |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Yes |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
Telecommunications companies operate in a dynamic and fast-paced industry, facing various risks and potential liabilities. That's why having general liability insurance is essential for protecting your business. This policy covers third-party bodily injury, property damage, and advertising or personal injury claims. General liability insurance typically offers coverage limits ranging from $1 million to $5 million, depending on your specific needs and the size of your business.
Accidental bodily injury to a third party at your premises or job site
Damage caused to a client's property during installation, rep
Personal injury claims arising from libel, slander, or copyright infringement
Advertising injury claims related to false advertising or copyright violations
Product liability insurance–Provides coverage for claims arising from defective products or equipment your telecommunications company sells or distributes
Cyber liability insurance–Protects against data breaches, cyberattacks, and other technology-related risks, which are prevalent in the telecommunications industry
General liability insurance covers accidents involving third parties, including clients and customers. Suppose an accident occurs on your premises or during work at a client's location resulting in bodily injury or property damage to a third party. In that case, your general liability insurance can help cover the associated costs.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Yes | No |
| License defense coverage included? | No | No | No | No | Can be included |
Professional liability insurance will protect you if third parties file a claim for negligence, breach of contract, breach of confidentiality, inaccurate advice, and other related offenses. This insurance will help pay for lawyer fees, settlements, and judgments. You purchase professional liability insurance as a claims-made or occurrence policy.
As a telecommunications company, you may develop, manufacture, or distribute products and equipment. Product liability insurance protects you against claims arising from damages or injuries caused by your products. Coverage options range from $1 million to $10 million or more.
Injury or property damage caused by a defective product your company produced or sold
Accidents resulting from improper installation or maintenance of telecommunications equipment
Claims arising from design defects or manufacturing errors in your products
Yes, even if you solely distribute products manufactured by others, you can still be held responsible for damages or injuries caused by those products. Product liability insurance covers claims related to the products you distribute, regardless of whether you manufactured them.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $25,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $25,000 | $25,000/$500,000 | $15,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Included | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Included | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Included | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Telecommunications companies rely on various physical assets, including office buildings, data centers, equipment, and inventory. This telecom insurance safeguards these valuable assets from risks such as fire, theft, vandalism, and natural disasters.
The coverage limits for commercial property insurance are based on the value of your property and the level of protection required. It typically includes the insured property's replacement cost or actual cash value.
Damage to your office building or warehouse due to a fire, storm, or other covered perils
Theft or vandalism of telecommunications equipment, tools, or inventory
Business interruption losses caused by property damage, leading to a temporary shutdown of your operations
Equipment breakdown insurance–Covers the cost of repairing or replacing damaged or malfunctioning equipment, such as servers, routers, or phone systems
| CoverWallet | NEXT (Best) | Hiscox | Thimble | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $500,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $25,000 | $25,000 | $25,000/$500,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
A (BOP) combines general liability insurance and commercial property insurance into a comprehensive package tailored to the needs of small to mid-sized telecommunications companies.
This policy offers convenience, cost savings, and broad coverage for common risks. The coverage limits of a business owner’s policy depend on the specific policy and coverage options selected. It typically includes general liability coverage from $1 million to $5 million and property coverage based on the value of your assets.
Third-party bodily injury or property damage claims, including slip-and-fall accidents at your premises
Damage to your office building, equipment, or inventory caused by covered perils
Product liability claims resulting from the sale or distribution of defective products
Accounts receivable insurance–This add-on covers the loss of accounts receivable due to physical damage or destruction
Business income extension for dependent properties–This add-on extends the coverage of your business owner’s policy to include loss of income resulting from disruptions at the premises of your key suppliers, distributors, or customers. It helps protect your business from financial losses caused by its dependency on external entities
The bundling offers convenience and potential cost savings. By combining these coverages into a single policy, you can simplify your insurance management, benefit from premium discounts, and ensure comprehensive protection for your business.
| NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Telecommunications companies rely heavily on specialized tools, equipment, and technology to operate efficiently. Tools and equipment insurance covers these essential items' repair, replacement, or loss.
Accidental damage to tools and equipment during installation, repair, or maintenance work
Theft or loss of telecommunications tools or equipment from your premises, job sites, or vehicles
Damage caused by fire, vandalism, or other covered perils
Inland marine insurance–Provides coverage for equipment and tools while in transit or temporarily stored at locations away from your primary premises
Worldwide coverage–If your telecommunications business operates internationally or requires equipment to be used outside of your country, consider adding worldwide coverage to protect your tools and equipment wherever they are used
Yes, tools and equipment insurance can cover the loss of mobile devices, laptops, or other equipment used for telecommunications services. It's essential to review your telecom insurance policy and discuss specific coverage details with your insurance provider to ensure your valuable electronic devices are adequately protected.
Telecommunications companies rely on a fleet of vehicles to provide services, transport equipment, and reach customer locations. Commercial auto insurance protects your business against liabilities arising from company-owned vehicle accidents.
The coverage limits for commercial auto insurance depend on the state requirements, your business's specific needs, and the value of your vehicles. Standard coverage limits range from $250,000 to $1 million per accident.
Bodily injury or property damage caused by an accident involving your company-owned vehicles
Medical expenses for injuries your employees or other parties sustained in a covered accident
Damage caused by uninsured or underinsured motorists
Liability coverage–Protects against claims for bodily injury and property damage caused by your company-owned vehicles
Collision coverage–This covers the cost of repairs or replacement if your vehicles are damaged in a collision, regardless of fault
Comprehensive coverage–Covers vehicle damage due to fire, theft, vandalism, and other covered perils
Uninsured/underinsured motorist coverage–Covers damages if you are involved in an accident with an uninsured or underinsured driver
Hired and non-owned auto coverage–This add-on extends coverage to vehicles your company rents or hires and vehicles owned by employees for business purposes. It helps protect your company against liability claims and property damage arising from accidents involving these vehicles
Rental reimbursement coverage–Adding this endorsement helps cover the cost of renting a replacement vehicle if one of your company vehicles is damaged or out of service due to a covered loss. It ensures your business operations can continue smoothly, even during vehicle repairs
Roadside assistance coverage–This add-on provides assistance and support in case of breakdowns, flat tires, or other roadside emergencies. It offers towing, fuel delivery, battery jump-starts, and lockout assistance for your company vehicles
Commercial auto insurance generally covers vehicles owned or leased by your telecommunications company. Personal vehicles used for business purposes may require a separate policy or endorsement, depending on the insurer and the specific circumstances. Discussing your coverage needs with your telecommunications insurance provider to ensure adequate protection is important.
Workers compensation insurance for telecommunications companies covers medical expenses, lost wages, and rehabilitation costs for employees who sustain work-related injuries or illnesses. In the telecommunications industry, where employees may face physical risks or exposure to hazardous conditions, this coverage is crucial.
Medical provider network (MPN)–An MPN is a network of healthcare providers authorized by the insurance company to treat injured employees. By utilizing an MPN, you can ensure that your employees have access to quality medical care from approved providers, which can help facilitate timely and effective treatment
Legal expense coverage–This coverage helps protect your business by providing legal defense and coverage for legal expenses in case of a dispute or lawsuit related to workers' compensation claims. It can help cover attorney fees, court costs, and settlement or judgment amounts
If an employee is injured on the job, it's important to take immediate action to ensure their well-being and comply with necessary protocols. Provide immediate medical assistance, secure the area, and gather information about the incident.
Notify the employee's supervisor or manager promptly and complete an incident report, documenting all relevant details. Contact your telecom insurance provider to report the injury and initiate the claims process.
Cyber liability insurance grants protection if a security error or cyber-attack results in a data breach. This policy covers the cost of lawsuits that affected customers file. You can also use this to pay for customer notification, data ransom, and data recovery. Some insurance companies offer cyber liability insurance as an add-on to general liability insurance.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $40 | $480 | $0-$500 |
| Professional liability insurance | $56 | $672 | $500-$1,000 |
| Cyber liability insurance | $80 | $960 | $1,000-$2,000 |
| Commercial property insurance | $78 | $936 | $1,000-$2,000 |
| Business owner's policy | $107 | $1,284 | $1,500 |
| Tools and equipment insurance | $43 | $516 | $500-$1,000 |
| Commercial auto insurance | $58 | $696 | $500-$1,000 |
| Workers compensation insurance | $94 | $1,128 | $2,500-$5,000 |
The average telecommunications insurance cost is $40 per month or $480 per year for a $1 million general liability policy. Factors that affect premiums are claims history, business history, policy limits, deductibles, and number of employees. Here’s a table showing the cost of a $1 million general liability coverage from the best telecommunications insurance companies:
Type of coverage–The specific type of insurance coverage you need, such as general liability insurance, product liability insurance, commercial property insurance, business owner's policy, tools and equipment insurance, commercial auto insurance, or workers' compensation insurance
Size of the company–The size of your telecommunications company, including factors such as annual revenue, number of employees, and the scope of operations
Value of equipment and property–The value of your telecommunications equipment, property, and assets that need to be insured
Location–The geographical location of your business can affect insurance costs, as different regions may have varying levels of risk and insurance market conditions
Claims history–Your company's past claims history, including the frequency and severity of previous insurance claims, can impact the cost of insurance premiums
Coverage limits and deductibles–The coverage limits and deductibles you choose for your insurance policies will affect the premium cost. Higher coverage limits and lower deductibles typically result in higher telecommunications insurance premiums
Industry risk factors–The inherent risks associated with the telecommunications industry, such as working at heights, exposure to electrical hazards, potential damage to equipment, and othe risks, can influence insurance costs
Loss control measures–The presence of effective loss control measures, such as safety protocols, risk management practices, and employee training programs, can help reduce insurance costs by mitigating potential risks
In connection, here’s a table showing the cost of a $1 million general liability policy from the best telecommunications insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $21 | $252 | Businesses looking for comprehensive coverage options at affordable prices |
| CoverWallet | $24 | $288 | Comparing telecommunications insurance quotes online |
| The Hartford | $25 | $300 | Established telecommunications companies looking for reliable coverage and exceptional customer service |
| Tivly | $28 | $336 | Comparing telecommunications insurance quotes over the phone |
| Thimble | $30 | $360 | Telecommunications companies in need of short-term or project-specific coverage |
| Hiscox | $35 | $420 | Telecommunications insurance with automatic renewal |
Get all the best quotes from leading providers in a click of a button!
Here are the best telecommunications insurance companies. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability policy.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn't find any
NEXTis an online insurance company established in 2016, providing comprehensive insurance options for small businesses. The company's focus on digitalization and technology has made buying insurance simple and convenient for business owners.
Best for: Best overall; Fastest general liability insurance for telecommunications companies
Average cost: $21 per month.
Our rating: 10/10
Wide range of coverage options for telecommunications companies
Easy-to-use online platform for managing policies and obtaining quotes
No hidden charges
Compare quotes online
Not an insurance company but an insurance broker
CoverWallet is a leading digital insurance broker specializing in providing insurance solutions for small and medium-sized businesses. They offer a streamlined online platform that allows businesses to compare and purchase insurance policies from multiple carriers.
Best for: Comparing telecommunications insurance quotes online
Average cost: $24 per month
Our rating: 10/10
Extensive experience and expertise in the insurance industry
Strong financial stability
Excellent customer service and claims handling
Limited add-ons to general liability insurance
The Hartford is a well-established insurance company with a strong reputation in the industry. They offer a range of insurance products tailored to the needs of businesses, including telecommunications companies.
Best for: Established telecommunications companies looking for reliable coverage and exceptional customer service
Average cost: $25 per month
Our rating: 10/10
Specialized coverage designed for telecommunications companies
In-depth knowledge of the industry's risks and insurance needs
Customizable policies to match specific business requirements
Takes you to partners if it can’t provide coverage
You need to talk to a representative to get a quote
Tivly is a specialized insurance provider offering coverage specifically for telecommunications businesses. They understand the industry's unique risks and provide tailored solutions. Call now to compare quotes over the phone.
Best for: Comparing telecommunications insurance quotes over the phone
Average cost: $28 per month
Our rating: 9/10
On-demand coverage for flexible insurance needs
Simple and convenient online purchasing process
Affordable premiums with pay-as-you-go options
Quick policy issuance
You can't reach customer service by calling
Thimble is an innovative insurance provider that offers flexible, on-demand coverage for small businesses, including telecommunications companies. They specialize in providing short-term, event-based, and project-specific insurance solutions.
Best for: Telecommunications companies in need of short-term or project-specific coverage
Average cost: $30 per month
Our rating: 9/10
A 14-day refund policy is in place, ensuring that customers can receive a full refund if they are unsatisfied with their purchase within that timeframe
Online quotes are swiftly generated within seconds of submitting a request, allowing customers to assess their insurance options quickly
The convenience of purchasing an insurance policy online is offered, eliminating the need for time-consuming paperwork or in-person visits
Policyholders who bundle two or more policies together can benefit from discounts of up to 5%, providing potential cost savings and added value
Some policies are sourced from partners
Hiscox is a well-known insurance company offering various insurance solutions for businesses, including telecommunications companies. With its focus on tailored coverage and industry expertise, Hiscox has become a trusted choice for many businesses.
Best for: Telecommunications insurance with automatic renewal
Average cost: $35 per month
Our rating: 9/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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