Software Developer Insurance from Massachusetts Specialists

What is Software Developer Insurance?

Software development is a lucrative and growing field, but it’s not one without risk. Massachusetts businesses in the field must consider the property and liability risks they face, and that’s weird software developer insurance comes in.

Software developer insurance is specialized commercial insurance designed for software firms and similar businesses. So that these policies can protect against both property and liability risks, the policies normally come with multiple coverages packaged together.

What Firms in Massachusetts Need Software Business Insurance? 

Most Massachusetts firms that develop software and/or apps can benefit from the protections afforded by software business insurance. Some examples of firms that might want this insurance include:

  • Enterprise software developers
  • Business software developers
  • Productivity software developers
  • Game developers
  • Web plug-in and extension developers

In some cases, businesses that develop software and do other work also need one of these policies. An insurance agent who specializes in software business policies can help broader businesses determine whether they should carry this type of insurance.

Free Quotes!

Software Developer Insurance Massachusetts

What Coverages Are Available Through Software Business Insurance?

As mentioned, software business insurance typically offers multiple coverages. Some of the property and liability coverages that a policy might offer include:

Firms that use a vehicle for on-site services likely also need commercial auto coverage, and there are still other coverages that policies might offer. An agent can go over all available protections.

Should Individual Software Developers Have Software Business Insurance?

Individual software developers who are self-employed ought to consider purchasing a software business policy. Even if developers work for make home office, homeowners insurance generally doesn’t extend coverage to business activity. A software business policy is thus normally necessary to ensure even self-employed software development.

What Sorts of Incidents Are Covered by the Professional Liability Protection in a Software Developer Policy?

The specific protections afforded by any individual software policy’s professional liability coverage depend on the terms of that policy. Nonetheless, many policies provide coverage for incidents like the following:

  • Failure to complete project by given deadline
  • Program glitch resulting in lost revenue for client 
  • Program vulnerabilities resulting in hacking of clients system
  • Completed project fails to meet contractual obligations
Software Developer Insurance Massachusetts

How Much Do Premiums for Software Development Policies Cost?

Premiums for software development policies are based on many factors, and therefore often vary. The best way to determine how much insurance would cost in a particular situation is by comparing policies with an independent insurance agent. Independent agents aren’t obligated to promote any one insurer, and can help developers compare policies across several companies.

How Can Massachusetts Software Firms Get Software Developer Insurance?

For help finding software developer insurance in Massachusetts, contact The Independent Insurance Agents at The Feingold Companies. Our agents will review your situation in order to determine coverage needs, and then they will work closely with you to find a policy that adequately meets those needs. With our assistance, you can be confident that your software firm is well protected. 

Contact Us

The Feingold Companies

Worcester Office
446 Main Street, Suite 1403
Worcester, MA 01608
Phone: (508) 831-9500
Fax: (508) 797-4030

New Lakeside & Dudley Insurance
446 Main Street, Suite 1403,
Worcester, MA 01608
Phone: (508) 943-0090

Send us a message