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Why do PC builders need insurance?
Your clients expect their custom-built gaming rigs and high-end PCs to work flawlessly, which is why insurance is essential. A system crash could cause costly losses, or a data breach could expose sensitive data. Business insurance covers lawsuits and losses caused by technical problems, along with injuries, theft, fires, and other risks small businesses face.
Find the right coverage
Insureon helps independent PC builders and startups find insurance that matches your unique risks.
Get free expert advice and peace of mind knowing you have the right type of coverage to protect against common financial losses.
What types of insurance do PC building businesses need?
These insurance policies cover the most common risks faced by PC builders.
Technology errors and omissions insurance
Tech E&O covers lawsuits related to the quality of your work, such as a new PC that short circuits because of excess thermal paste. It's also called professional liability insurance.
BEST FOR
- Failure to deliver a new PC on time
- Insecure app that leads to a data breach
- Wrong solid-state drive (SSD) or motherboard
Cyber insurance
This policy covers costs related to a data breach on your own computer system. It’s recommended for businesses that handle credit cards, email addresses, and other personal information.
BEST FOR
- Customer notification expenses
- Fraud monitoring services
- Data breach investigations
General liability insurance
This policy covers customer accidents and product defects, such as a fire caused by a faulty power supply unit. You may need it to sign a commercial lease, loan, or contract.
BEST FOR
- Accidents that harm customers
- Defective products
- Lawsuits from social media posts
Fidelity bonds
A fidelity bond provides compensation for your clients if one of your employees steals from them or commits fraud. It's also called an employee dishonesty bond.
BEST FOR
- Employee theft or fraud
- Unlawful data access by an employee
- Illegal funds transfer by an employee
Workers’ compensation insurance
Most states require workers' comp for PC building businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
BEST FOR
- Medical payments for work injuries
- Disability benefits
- Lawsuits from employee injuries
Commercial auto insurance
This policy covers costs if a vehicle belonging to your PC company is involved in an accident. Most states require this coverage for vehicles owned by a business.
BEST FOR
- Car accidents
- Vandalism and theft
- Weather damage
Looking for different coverage? See more policies.
How much does technology business insurance cost?
A sole proprietor who builds gaming PCs independently will pay less for insurance than a larger business.
Factors that affect tech business insurance pricing include:
- Products offered, such as PC cases, video cards, graphics cards, liquid cooling systems, and operating systems
- Business property and equipment
- Business size and annual revenue
- Insurance products purchased
- Number of employees
- Policy limits and deductibles
How do I get PC building insurance?
It's easy to get the right PC building insurance if you have your company information on hand. Our insurance application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application.
- Compare insurance quotes and choose policies.
- Pay for your policy and download a certificate.
Insureon's licensed agents work with top-rated U.S. insurance companies to find coverage that fits your custom PC building business, whether you work independently or hire employees.
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Common questions about PC building business insurance
Review answers to frequently asked questions (FAQs) about insurance for PC builders and more.
Why is business insurance important for PC building companies?
PC building business owners may think their company is a low-risk operation compared to others. However, even a frivolous lawsuit can have a large impact on your finances and reputation, whether you're just starting your business or are well established.
Here’s a closer look at some key insurance products and why you should carry them:
- Technology errors and omissions insurance, sometimes called tech E&O or tech professional liability insurance, is a bundle of E&O with cyber insurance. This policy can help you with legal fees and court costs if a dissatisfied client sues you over your work performance or third-party cyber incident. It covers the cost of customer notification, credit monitoring, legal fees, and fines.
- Business owner's policy (BOP) combines general liability coverage with commercial property insurance at a discount. It protects against common third-party lawsuits and business property damage.
- Commercial property insurance covers your business property and equipment if it's damaged, lost, or stolen at your fixed business location. Should your machinery or equipment suffer a mechanical or electrical failure, equipment breakdown coverage would provide the funds to repair or replace the damaged equipment.
- Electronic data processing (EDP) insurance covers electronic devices such as computers, storage devices, and the data they contain during a power surge, fire, natural disaster, or similar incident. Also known as computer coverage or data processing coverage, EDP insurance can help protect your business income against financial losses from data corruption or loss.
- Business income insurance, also known as business interruption coverage, offsets your lost income when your business is forced to close because of a covered peril, such as property damage. These funds help you cover your normal operating expenses until you can resume business operations.
- Employment practices liability insurance (EPLI) safeguards your business if you're sued by an employee over wrongful termination or another violation of employee rights. EPLI can also be added as an endorsement to your general liability or business owner's policy.
- Inland marine insurance provides coverage for business property, such as products, materials, and equipment, while it’s in transit over land or stored at an off-site location. Additionally, tools and equipment insurance helps pay for the repair or replacement of tools and equipment if they're lost, stolen, or damaged. The items typically must be less than five years old, and valued under $10,000.
Do PC builders need professional indemnity insurance?
Much like other tech businesses, PC builders aren't required by law to carry professional indemnity insurance. However, it should be a critical component of your risk management plan.
Professional indemnity insurance, also called professional liability insurance or errors and omissions (E&O) insurance, protects you in the event a client files a lawsuit against your PC building company for an error, mistake, or professional negligence.
You can bundle professional liability insurance for PC building businesses with cyber insurance into a technology professional liability policy, which is more commonly referred to as tech E&O. This would be a more affordable insurance option than purchasing the policies individually.
Do PC builders who work independently need insurance?
PC builders who work independently face many of the same risks as a bigger business, including E&O lawsuits. For that reason, they often need the same types of insurance coverage.
For example, you may need general liability insurance to sign a commercial lease, loan, or contract, and tech E&O to protect against lawsuits from dissatisfied customers.
Keep in mind that your personal insurance policies likely won't cover commercial activities. Homeowner's insurance may offer only limited coverage for business property, which is a reason to invest in commercial property insurance or a business owner's policy (BOP), which bundles general liability and property insurance at a discount.
If you use your own vehicle for work, you should consider hired and non-owned auto insurance (HNOA). This policy provides liability coverage when you drive a personal, leased, or rented vehicle for work purposes.
Finally, though workers' compensation isn't required for sole proprietors, it's a good idea to carry this coverage. Your personal health insurance likely won't cover injuries and illnesses that are related to your job.
How does first-party and third-party cyber insurance differ?
When buying tech E&O and cyber insurance, you may come across the following terms:
- First-party cyber insurance: Also called data breach insurance, this coverage offers protection against cyber risks at your own business, such as a data breach that exposes your customers' email addresses or other personal information stored by your company.
- Third-party cyber insurance: This covers your responsibility for cyber risks that harm another business. For example, your PC business might offer select security services to your clients. But if a weakness in that security causes your client's data to be exposed, then your PC building company could be held liable for the breach.
You can typically add first-party cyber coverage to your general liability insurance or business owner's policy (BOP). Third-party cyber coverage is included in tech E&O insurance, which bundles cyber insurance with errors and omissions insurance.
How do I start a PC building business?
Knowing your way around circuit boards, central processing units, and other computer parts isn’t the only thing you need to launch a PC building company. You will also need to:
- Do market research and figure out a way to stand out from competitors
- Locate sources of funding
- Write a comprehensive business plan
Better preparation improves the odds of success, no matter your specialty. Read more about how to start an IT services business.
How can I save money on computer business insurance policies?
There are many steps you can take to get affordable coverage that meets your insurance needs. You can start by comparing free business insurance quotes from leading insurance companies with Insureon.
Our licensed insurance agents can help you find cheap PC building insurance for your specific needs. Most small businesses can get insured and download a certificate of insurance within hours of applying for quotes.