Protect Your Business: Computer Repair Insurance

Computer repair businesses will always have a place in a day and age where technology is of maximum importance in almost anyone’s life. If you are planning to become an owner of one, it is worth knowing that handling sensitive information brings notable risks. Any loss of data can lead to serious legal issues, some of which could ruin you financially.

Insurance is, therefore, key to the specialised needs of this field. Nobody aims to leave customers unhappy, yet mistakes can happen. Having legal protection from the high costs that property damage may bring is crucial for the survival of these businesses.

Let’s have a look at some of the insurances that provide the best value.

1. General Liability Insurance
   1. General liability insurance mostly covers aspects that can apply to any business, not just those focused on computer repairs. One common example would be injuries sustained on your location – a customer falling when entering your shop could decide to initiate a lawsuit.
   2. Another aspect would be the damage caused to a client’s property. For example, damaging a hard drive can also bring a lawsuit and demands for serious compensation. This type of insurance covers both costs related to the court, and the injury caused, letting you focus on doing the best possible work without being overly worried regarding possible legal issues.
2. Errors and Omissions cover
   1. This type of insurance covers the professional mistakes that could appear in a computer repair business. As the name implies, the terms are specific to the field mentioned.
   2. It offers protection against late delivery, services or products that are below expectations and others along the same lines.
   3. One way that the damage covered here is differentiated from the general liability is that it can be more complicated than visible damage done to physical property. One example would be software that proves to be faulty in time, leading to losses that customers aim to receive compensation for.
   4. This type of cover is generally reserved for higher-end companies with mid 6 figure turnovers.
3. Property Insurance
   1. Office space, furniture, the equipment can all be covered against fire, theft, floods and other accidental events that could harm your business. Seeing how the assets of a computer repair shop are highly specialised and quite pricey at times, property insurance is a crucial tool that will provide financial safety.
4. Income Protection or Personal Accident Insurance
   1. Any business needs insurance that covers injuries sustained by an employee during work. Income protection can provide up to 70% of the monthly salary for as long as five years, depending on the severity of the injuries and recovery time needed. The costs of medical treatments are also covered.
5. Professional Indemnity
   1. This protects against any claims of losses appearing as a result of your professional advice. Considering that many things can go wrong in the field, and not everyone is tech-savvy, being covered for the complaints following actions that were out of your control is critical.

Bluewell Insurance Brokers perfectly understands the needs of a computer repair business, as well as the value it brings to the market. Let us show you our excellent policies and you’ll be convinced. Contact us if you need details.