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Dear Business Owners, I started home based IT conuslting, where I provide professional software to customers. I have an employee on an employee in 1099 and w2. I 'm not sure how many employees can I add in the next 6 months (maybe another 2). My question is: My client / supplier is asking for proof of insurance. I want to know what type of insurance ( I read on workers' compensation and liability ) do I need to have. Any suggestions would be greatly appreciated. |
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Do you provide work for payment or doing consulting for the development of custom software? |
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Do include the "errors and omissions " that often face people in software development / implementation biz |
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BOP does not understand that they cover type that could be obtained from an E &O; policy. BOP only building coverage, Biz Pers Property and Liability. The party responsible for a BOP does not cover the scope of consultation of your duties. It will focus on the next " general " responsibility for things. In most cases " consultants " to pose as "experts" in a given area. If your customer feels that your work does not meet their expectations - you may face a liability claim or lawsuit. E &O; is there to protect the consultant from the major financial loss that may result from legal action. It's a good idea to have a certain E & O. ; Computer consultants would be in the neighborhood * of $ 1800/year for this type of coverage.
~ quotes do not cost a thing - except for the time ~ |
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I m providing consultants to do the job for the client. These consultants may be in my w2 -2 or corp - corp. thank you Arjun. |
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Run your standard trade policy Mill owners or " BOP " should be good enough. BOP are policies that provide goods and package broad liability coverage in a single contract and is designed for small and medium enterprises mercantile, office or apartment risks. So your " home biz " would be fine. BOP start at 1 million / $ 2 million, but can be waived if necessary. |
