Insurance for software developers
Secure insurance for software developers quickly and without fuss. We're simply-priced, flexible and upfront.
Self-employed software developers face many risks
Your code causing havoc
If you're developing systems, as good as you are, there's always a possibility your code goes wrong and causes your client a loss. In which case they may come after you for damages.
IR35 enquiries and unpaid invoices
Depending if you use an umbrella company or contract directly you may be exposed to IR35 enquiries from HMRC. Regardless of how you're engaged you still could be subject to late or non-payment of invoices.
Damage to your work equipment
You are likely to use your own laptop or computer for your work, if that gets stolen or damaged could you afford the repair or replacement costs?
Accussation of causing a financial loss
An unhappy client may allege your work ended up costing them money which they now want to recover from you.
You need insurance for software developers that's relevant and flexible enough to change or cancel easily.
Our mission is to see small business insurance done fast, clear, upfront and painless.
Save time by getting a price after four questions.
Get insured anytime. Manage cover from your DIY portal.
Sleep well knowing your cover is backed by trusted UK insurers.
Keep money in your pocket. Pay monthly, no APR or fees.
Pay less when not working by hibernating your PI cover.
Get help when you need it from our Bristol based team.
What insurance do software developers need?
Choosing the right insurance for you depends on the size and nature of your business. Key insurance covers software developers should consider include:
Professional indemnity
Provides you with legal defence against claims of professional mistake, causing a financial loss or breach of copyright.
Business legal protect
Pays legal costs & expenses including appeal costs if you or your business face a legal threat or an HMRC/IR35 enquiry.
Electronic business equipment
Pays for repair or replacement of your portable electronic equipment (and accessories) you need to do your work.
Starting with professional indemnity insurance for software developers
You back up your work to minimise the risk of mishaps or lost data and you need to take the same approach to your own business protect your livelihood and reputation.
There are many reasons that a case could emerge as a result of your work - everyday if fact if you’ve been writing code for the last few years. Regardless of whether you have done it purposefully, a few things can happen that can make a client troubled and make them sue you.
Copyright encroachment, digital assaults because of a weakness, property harm to a clients property while you are working (for example espresso spilled on a PC), coding blunders, and inability to finish your task on time are only a portion of the things that can be guaranteed by a miserable client.
These are just some examples of the most common claims against software developers by dissatisfied clients.
Try not to have a critical monetary misfortune by investing in quite possibly the key business insurance type - professional Indemnity insurance - which is there to protect you from accusations of wrongdoing, mistakes and other professional errors.
What else should form part of business insurance for software developers?
There are two aspects to consider as a software developer. Firstly, whether you’re working from your client’s premises or regularly meeting with them and their staff.
Secondly, is the type of work you’re delivering prone to a cyber security issue?
Public liability insurance is an inexpensive insurance protection for unfortunate incidents such as damaged property of your client, your equipment causing someone to slip or fall. These claims rarely result in substantial claims but even a few thousands can make a hole in your pocket.
Cyber insurance is a very specialised product and even though professional indemnity insurance for software developers may include a little element of it, it’s unlikely to be enough for your line of work.
If your work is exposed to risks of cyber crime, look for a cyber insurance specialist.
As a software developer you understand how complex this issue is, and often impossible to explain easily to a third party. You’ll need your insurer provider to have the experience, knowledge and resources to assist you.
A case of a delayed error riddled project
We can offer an example of a product engineer who entered into a contract with a client to develop a tech capability for the client’s business.
The contractor didn’t finish the project within the two year time frame plus what had been delivered showed a number of slip-ups.
At least that was what the client claimed before they walked away from the contract and recruited another developer to finish the product.
On top of that the client sued the original contractor for breach of contract and demanded that all of the investment was refunded, by then amounting to some £600,000.
With professional indemnity insurance software developers won't be necessarily immune to those situations but will certainly be able to rely on qualified legal help to guide them through the problem and minimise any financial damage.
When you decide to protect your business with Suited we want you to get more than just insurance. That's why with every policy subscription we include Business Legal Protect. From the moment you sign up you gain access to extra support services which are all part of our price.
- IR35 & HMRC investigations
- Legal matters concerning your business
- Negative PR (£25,000 cover)
- Criminal prosecution
- Compliance & regulation issues
- Unpaid invoices (over £200)
- Free tax advice
- Free commercial legal advice
- Counselling for you and your staff
- Access to a legal template library
- Identity theft assistance
How much does insurance for software developers cost?
Price depends on many factors including business activity, the cover you choose and the level of protection (also known as the limit). With Suited you can mix and match covers and limits. Below are some cover examples, but you will be able to build your own.
Common questions
What type of software contractor liability insurance do I need?
With professional indemnity insurance software developers may also wish to consider public liability insurance, useful if you’re in contact with your client, their staff and premises. Cyber insurance is advisable especially if your work is cyber crime sensitive.
Can I insure my past work under Suited insurance for software developers?
With Suited you can provided you’re not aware of any circumstances that might lead to a claim.
Will the work of subcontractors be covered by Suited professional indemnity insurance for software developers?
Suited professional indemnity does cover the work you have subcontracted but you must not waive your right of indemnity against those subcontractors.
What if I’m in between contracts?
With Suited you can switch the holiday mode on which means you’ll stay insured for the past under your professional indemnity insurance while paying a lot less.
No problem, with Suited you can flex your insurance as your business evolves.
Save money by not paying extra to change your cover.
No longer need us? Cancel anytime, no more to pay.
The fast and hassle free way to get business insurance for small professional outfits.