E&O insurance quotes for tech and IT services companies

What Errors & Omissions Insurance Covers

Errors and omissions insurance — also called professional liability insurance — protects your company when a client claims your product or services caused them financial harm. For a tech company, that typically means claims alleging:

• Software failures or defects — your platform went down, miscalculated, or corrupted data, and a customer lost revenue
• Missed deadlines or failed deliverables — a custom development or implementation project didn't deliver what the contract promised
• Negligent advice or services — consulting, integration, or managed services that allegedly fell short of professional standards
• Breach of contract claims tied to the performance of your technology or services

The policy pays for legal defense costs (often the largest expense, even when claims are meritless) and settlements or judgments up to your policy limit.

What it doesn't cover: bodily injury and property damage (that's general liability), data breaches and ransomware (that's cyber insurance, often bundled with tech E&O coverage), and lawsuits against your directors and officers personally.

Why SaaS and IT-Services Companies Need E&O

If your revenue depends on software performing as promised, you carry professional liability exposure every single day. A few realities founders run into:

• Enterprise customers require it. Most MSAs with mid-market and enterprise buyers include an insurance clause requiring E&O — commonly $1M–$5M in limits. No certificate of insurance, no signed deal.
• Limitation-of-liability clauses don't always hold. Even with strong contract language, you can still be sued, and defending the claim costs real money regardless of outcome.
• Investors expect it. Diligence checklists at Series A and beyond almost always ask about E&O and cyber coverage.
• One unhappy customer can outspend you. A dispute over a failed implementation or extended outage can generate legal bills that dwarf the annual premium.

For SaaS companies specifically, the modern standard is a combined tech E&O + cyber policy, since a single incident — say, an outage caused by a security event — can trigger both coverages at once.

What Affects Your E&O Insurance Quote

When underwriters at A-rated carriers price your risk, they look at a fairly predictable set of factors. Knowing them helps you understand your quote — and improve it.

For a deeper dive into actual numbers, see our errors and omissions insurance cost guide — but as a broad orientation, early-stage tech companies often see combined tech E&O/cyber premiums in the low-to-mid four figures annually for $1M limits, scaling with revenue and limit requirements.

How to Get Errors and Omissions Insurance Quotes (the Right Way)

You have two paths: fill out forms on a half-dozen direct-to-consumer sites, or work with a specialist broker who markets your risk to multiple carriers at once. Here's why the second path usually wins:

1. One application, multiple markets. A broker submits your information to several A-rated carriers and comes back with comparable options, so you're evaluating real differences in coverage rather than just price.
2. Tech-specific policy forms. Generic E&O forms often exclude or poorly address software failure, IP claims, and cyber events. Knowing which carriers write the best tech E&O matters more than shaving a hundred dollars off premium.
3. Contract review against coverage. A good broker checks your customer MSA insurance requirements against the quote so you don't buy a policy that fails the very contract that prompted the purchase.
4. Speed. For most pre-Series B companies, a complete submission can produce bindable quotes within a few business days — sometimes same-day for straightforward SaaS risks.

To get a fast, accurate quote, have these on hand: current annual revenue (and projection), a one-paragraph description of what your product does, your largest customer contracts' insurance requirements, headcount, and any prior claims.

State-Specific Considerations

E&O is written nationally, but venue matters. California companies, for example, face a famously active litigation environment and customer bases concentrated in enterprise tech — we cover the nuances in our guide to errors and omissions insurance in California. Wherever you're incorporated or operating, your quote should reflect where your customers can sue you, not just where your office sits.

Get Your E&O Insurance Quote from OnePark Risk

OnePark Risk specializes in E&O, cyber, and D&O insurance for venture-backed technology companies in New York, California, and Boston. We market your risk to multiple A-rated carriers, match coverage to your customer contracts, and turn around quotes fast — so you can close that enterprise deal instead of chasing certificates. Request your errors and omissions insurance quote today and get options in days, not weeks.