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Why Telecommunications Firms Need Business Insurance
Telecommunications businesses that provide cutting-edge telecommunications technology solutions in demanding industries like cable television, radio, and television broadcasting, face unique risks. And that’s in addition to the typical risks most small businesses face, including telecommunications providers, like property damage and data loss. Learn about the specific insurance coverages smaller telecommunications businesses like yours need and most often purchase, from The Hartford.
Business Owner’s Policy
Most telecommunications businesses should have a Business Owner’s Policy (BOP). Why? Because it helps protect your small telecommunications business in much the same way a homeowner’s policy helps protect your home and personal possessions.
By combining three basic coverages that are important to virtually every small business, a BOP can help save you money on insurance rates while safeguarding the communications business you’ve worked so hard to build.
- General Liability – helps protect your telecommunication company from certain lawsuits alleging injuries or property damage that occurred because of your business operations – like if a customer is injured in your office or an employee or contractor causes damage to a customer’s property during an installation or service work. It even helps cover certain claims of slander and libel against your business. Business Liability does not cover liabilities directly arising out of the professional telecommunications services that you may provide.
- Commercial Property – helps protect the place where you conduct your telecommunications business and the tools and equipment that you use in the course of your work, such as computers and installation equipment.
- Business Income – helps cover the loss of income when you can’t run your telecommunications business due to covered property damage.
Learn more about our Business Owner’s Policy for your small telecommunications business.
Easily Add Optional Insurance Coverages to a Business Owner’s Policy
Professional Liability Insurance (E&O)
The complexities of working with evolving technology in the complex telecommunications industry make errors and omissions possible. Imagine if a software glitch causes a client to lose important data or a programming flaw stalls a broadcast.
Telecommunications providers like you can be sued for damages and expenses resulting from the services you provide – or the failure of the telecommunications services or products you provide to perform as intended. That’s why you may need Professional Liability insurance, which provides financial protection that can help protect your communications business’s assets and help cover the cost of your defense in the event of a lawsuit.
Business Income for Off-Premises Utility Services Coverage (OPUS)
Your telecommunications business depends on power and communication services to operate. Business Income for Off-Premises Utility Services Coverage covers income that is lost by interruptions in utility services beyond your control, such as when a storm damages power lines and your telecommunications business is without power. Unlike most other insurance companies’ offerings, OPUS coverage from The Hartford starts as early as 12 hours from initial interruption of utility service.
With OPUS, small telecommunications businesses can get insurance that provides power interruption protection and safeguards their income against outages of other utilities as well.
Computers & Media Insurance Coverage
Your telecommunications business depends on computers to communicate with customers, store important business information, employee data, customer and contractor files, and so much more. Computers and Media Coverage helps pay to research and replace lost data if your computers are damaged or a virus corrupts your communications business’s records.
Data Breach Insurance Coverage
Telecommunications businesses keep records of employee and customer information that includes Social Security numbers and credit/debit card information. Data Breach Coverage helps pay the costs of notifying impacted individuals, tending to public relations, advertising to restore brand image and legal liability expenses if customer or employee information is lost or stolen from your business.
Hired & Non-Owned Auto Insurance Coverage
Have you ever borrowed a vehicle for business, say to meet with a client, pick up supplies, inspect broadcasting equipment, or more? Unlike most personal auto policies, Hired & Non-Owned Auto Coverage helps protect you when a borrowed, leased or rented vehicle, used for business purposes, is involved in an accident.
For businesses without owned or long-term leased vehicles that would need to be covered on a Business Auto policy.
Bundle Insurance Coverage for Telecommunications Businesses
Stretch Your Dollar
It’s easy to increase your telecommunications firm’s Business Owner’s Policy protection at an affordable price with The Hartford’s Stretch® endorsements that bundle important coverages. For telecommunications businesses like yours we offer:
- Technology & Software Providers Stretch
- Super Stretch for Technology & Software Providers
- Super Stretch for Business Services
Contact an agent or a representative from The Hartford about these cost-effective solutions that help take the guesswork out of selecting the right coverage for your telecommunications business.
If you have employees, use a car for work, or work from home, your telecommunications business may also benefit from:
Other Important Insurance Options for Telecommunications Businesses
Workers’ Compensation Insurance
Required by most states, workers’ compensation insurance provides benefits to your telecommunications employees for work-related injuries or illnesses including medical care, wages for lost work time, and more. In the event one your worker’s family decides to sue you, coverage can help your telecomm business with the related legal fees. Businesses like yours have been turning to The Hartford for workers’ compensation coverage for more than a century.
Commercial Auto Insurance
Do you use ever use your own car to run errands, pick up supplies, or attend meetings for your telecommunications business? A Business Auto Policy provides coverage that is typically not included in a personal auto policy. It can help cover you or one of your employees if an owned vehicle, used for business purposes, is involved in an accident.
Home-Based Business Solutions
If you run your telecommunications business out of your home, you probably want a Business Owner’s Policy. A business owner’s policy provides coverage not typically available with a homeowner’s policy. It can include data breach coverage if hackers steal your customer data. Or business income coverage if a storm causes a power outage and you can’t operate your telecommunications company.
Ask yourself, “Do I have clients, contractors, or vendors come to my home, receive business mail or deliveries at my house, maintain inventory computer or broadcast equipment, or have employees working at my home?” If so, your agent or a representative from The Hartford can help you select the right coverage to protect your business telecommunications company