Writing for clients can be fun. You’ll be able to tell a story, share your opinions, and change minds. If you’re good with words, you’ll make a lot of money too. After several years in the industry, you may get too comfortable with your position. You may rush through a project and end up making a tiny mistake. That mistake could lead to immense repercussions and liabilities. If you don’t want your business to go belly up, you need to get IT insurance for your technical writing business.
ProfessionalsCoverage can help you reach the best Canadian insurance companies so you can get protection quickly.
Technical Writers Business Insurance Recommendations
For technical writers, business insurance is a requirement. However, you may find that some policies do not apply to your company. While you might be able to avoid some, you should have others. So, which business insurance policies will you need?
Errors & Omissions Insurance
E&O insurance is often referred to as professional liability insurance. It is one of the most important insurance policies for Canadian professionals. Most technical writers work hard to satisfy their clients. Still, something in your personal life could negatively impact your business. It could cause you to miss deadlines or deliver less than perfect work. If your document contains errors, your client could suffer. Don’t be surprised if your customer decides to file a lawsuit against your writing business. Professional liability insurance is great for these situations. It protects writers who have missed deadlines and been accused of negligence.
Cyber Liability Insurance
Thanks to the convenience of modern technology, most technical writers save their work online. You may have a database full of ongoing and finished projects. This ensures that you can access these documents at home, at the office, and anywhere in the world. However, this comes with risks because hackers may be able to access those documents too. A successful cyber attack may expose these documents to theft. If you lose the work you’ve done for a client, a lawsuit is likely coming your way. You need cyber liability insurance to help protect your business from lawsuits associated with data breaches.
You’ve done your best to hire reliable, trustworthy writers. Still, you never know who you can trust. Things may be okay right now. However, a financial downturn could cause one of your employees to get desperate and begin stealing from your company. Having a fidelity bond or honesty bond can save your company from dishonest employees. If an employee takes your company’s property or money without permission, these bonds will be very helpful. Even if you’re hiring loved ones, you should protect your business with fidelity bonds.
General Liability Insurance
2016 statistics show that 42,000 workers experienced a slip and fall. Furthermore, there were almost 9,000 hospitalizations due to falls on ice from 2016 to 2017. Remember that your clients will likely want to visit your office so they can read your work. They’ll want to provide feedback so you can adjust the documents to suit their needs. When they visit, you have to be very concerned about the potential for accidents. Even if you’ve made your workplace as safe as possible, accidents could happen. If a customer arrives and falls walking to your front door, you’ll want to have general liability insurance. It’ll cover the costs associated with slips-and-falls as well as damaged customer property and lawsuits stemming from libel and slander.
Workers’ Compensation Insurance
Your workers are a vital part of your business. You’d likely face a lot of problems without them. Without an editor and proofreader, you’d spend a lot of time fixing your technical documents. As a technical writer, you’ll want to spend most of your time writing and less time editing. In Canada, you are required to have workers’ compensation insurance for your workers. Plus, it is the right thing to do. This insurance ensures that your workers can afford their medical expenses if they get hurt on the job. It can also help them survive while they recover by paying missed wages. If a worker wants to sue your company due to an accident, workers’ compensation will be there to help.
Commercial Auto Insurance
Once you’ve finished a document for your client, you’ll want to deliver it in person. Or, you may need to meet with the client so you can make revisions at his or her request. Either way, you’re going to be driving a business-owned vehicle to visit this individual. Cause an accident and your business is going to be looking at hefty repair bills and medical bills. You shouldn’t pay for these things since commercial auto insurance will do it for you. This insurance can help pay for damaged and medical expenses associated with a wreck you or an employee caused. It also offers coverage for theft and vandalism to company-owned cars, trucks, vans, and other automobiles.
You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.
Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.
Types of disability insurance:
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
How Much Will You Pay For Technical Writer Business Insurance?
You’ll have to pay to get covered. So, how much can you expect to pay? You won’t know until you speak to a professional insurance broker. By contacting ProfessionalsCoverage, you will receive assistance with finding a good agent in your area. This individual will learn more about your business so they can tell you how much you’ll have to pay for insurance. The price of your insurance will depend on several aspects of your business including the writing services you provide, your annual revenue, and the location of your business. You’ll also have to tell them about your business equipment, property, and other assets. Finally, they’ll consider the number of employees you have when determining what your premiums will be.
Why Must Technical Writers Have Business Insurance?
Canadian technical writers are thriving and you’ll want your business to do the same. That won’t happen if you make mistakes and get sued by an angry client. Without insurance, your company will have to cover these costs and it could lead to your company closing its doors. You don’t want that to happen so you need to get technical writing business insurance. Get protection so you can sleep well at night knowing your company can survive a lawsuit.
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Helpful resources for IT professionals and their companies
- Why do I need IT insurance for my business?
- What types of insurance do I need for my IT business?
- Will I be legally required to get insurance to operate as an IT company?
- How do I get the cheapest rate possible as an IT business?
- As an online business, what liability insurance coverages will I need?
- How do I handle a lawsuit that is frivolous or completely fake?
- Want to cancel insurance for your IT Company? Here are reasons to consider!
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- How do I choose the right legal corporate structure for my technology company?
Other types of IT Businesses we insure:
If your specializing is not mentioned below, have no worries. Our insurance markets can provide liability coverage for the majority of information technology related businesses.
- Telecom Cabling Installers Insurance
- Network Designer Insurance
- Cyber Security Insurance
- Business Intelligence Insurance
- Data Analysis Insurance
- Database Administration Insurance
- Web Hosting Service Insurance
- Network Security Company Insurance
- Mobile App Developers Insurance
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- IT Project Management Insurance
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- Technical Writers Insurance