Do you have insurance?

[Dacsoft]

If you run a hosting company, do you have any liability insurance?

[Dacsoft]

No I don't. But I am concerned that I should have it. (That is why I posted the question)

[Rincewind]

Since it only costs about £50 per year for £1,000,000 of cover, why would anyone be in bussiness without it?

[alex042]

General liability insurance is relatively cheap at around $300/yr, but when I went to get a quote from State Farm for cyberspace insurance, which is supposedly what an actual host would need, and the errors and ommisions insurance for programming and design, the insurance company needed quite a bit more info. In fact, they requested a formal writeup of services so they could send it to their underwriters and even then said it could run 10x what general liability insurance would. I was told that general liability insurance is designed more for slip and fall types of incidences and not what I wanted.

[beley]

Yes, general liability won't really help an Internet service provider that much. If you run an office and see customers/clients for meetings it would be a good idea... otherwise it may just be a waste of money.

[dynamicnet]

Greetings:

Yes; to me it is a given for professional hosting companies catering to businesses.

Thank you.

[tailzie]

When I ran my webdesign/hosting business, about 2 years ago everybody kept saying I should get liability insurance. Every option I looked into at the time either didn't work for online businesses or was WAY WAY to expensive for my small ity bity business. Maybe the options have changed, but for the long run I would have wanted to get some sort of liability insurance especially for those running your business off your own social sec #.

[Dacsoft]

Based on good practices a hosting company probably should have liability insurance. What is the chances of finding an insurance company that understands the web?

Does anybody know of an internet-based insurance company?

[nsusa]

That's why it is important to incorporate or LLC your business. At least it protects your personal assets.

Christoph

[Spencer]

Yes.

[arrow]

Many building will require liability insurance. Our building requires $ 1,000,000 liability and cost around $500.00 a year.

Not much fun writing the check, but money well spent.