Software Developers Insurance

Expect more from your insurer. Protect your business with tailored software developer insurance from as little as £5 a month.

  • Fast, easy online quote in 90 seconds

  • 24hr legal advice helpline included

  • No hidden fees or cancellation charges

Markel offers specialist insurance to cover software developers throughout the development process – from requirements gathering and wireframing through to programming and testing.

What is software developers insurance?

Software developer insurance covers IT contractors and professionals that operate within the software development industry. Whether you’re building new apps or customising off-the-shelf software, our insurance can be tailored to protect you every step of the way – covering you against allegations of professional negligence, personal injury or damage to client property.

Why do software developers need insurance? 

Clients have high expectations that developers will use their expertise and knowledge to deliver a high-quality product – but if the product fails to meet the standard required by clients, you may be held liable for any losses your client suffers.
Without software developer insurance in place, you would have to defend any claims (as well as pay any compensation that may be awarded to your client) out of your own personal finances.

What does software developers insurance cover?

Markel provides a range of cover options for software developers, including professional indemnity, public liability, employers’ liability and more. These covers have been designed to protect against the many risks facing software developers in their role.
Examples of what’s covered include:

  • Copyright infringement - during the development process, you unintentionally use a copyrighted image without the appropriate licence. The owner of the image takes legal action against you for infringing copyright.
  • Professional negligence - a software platform you develop is discovered to be unfit for purpose several months after a project ends. The client takes legal action against you to recover the cost of putting your mistakes right.
  • Damage to property - you spill coffee over a client-owned laptop whilst working remotely. The client sends you the bill to repair it.

How to arrange your software devloper insurance

Covering your business with Markel is easy. Simply get an online quote by answering a few questions about you, your business and your activities. You’ll receive your policy documents instantly, including a proof of insurance document to show clients that you are insured.
Choose from a range of covers to build an insurance policy that is tailored to your business’ individual requirements.

How much it will cost

Costs vary depending on the covers and limits you choose to add to your policy, however software developer insurancefrom Markel starts at just £5 per month.

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  • Professional indemnity insurance

    Professional indemnity insurance covers the legal costs of defending your business against professional negligence claims, such as providing incorrect advice, as well as the cost of damages awarded against you if your defence is unsuccessful.

    Examples of claims include:

    • Breach of contract: you’re contracted to develop a component of a system within a specific time period. You miss the deadline and the client takes legal action against you for the additional costs incurred due to the delay.
    • Negligence: a system you have developed performs worse than the legacy platform it replaced, incurring your client additional cost. The client takes legal action against you.

    Professional indemnity insurance from Markel also includes mitigation of loss cover, which pays the cost of rectifying a mistake before your client makes a claim against you. Limits from £50k to £5m.

  • Public and product liability insurance

    Public and product liability insurance covers the cost of defending your business against allegations of injury or damage to third party property.

    An example of a claim could be:

    -       An employee at your client’s office trips over your bag. They break their wrist and make a personal injury claim against you.

    Limits range from £1m to £5m.

  • Employer’s liability insurance

    Employer’s liability insurance is a legal requirement if you have employees in your business. Insurance will cover you against claims for illness or injury suffered by your employees as a result of working for your company.

    If your business employs staff on a full time or part time basis, you will need to arrange employers’ liability insurance. Limit of £10m.

  • Directors and officers insurance

    Directors and officers insurance covers the defence costs if you, as a director or officer of your company, are accused of wrongful acts and any subsequent damages awarded against you.

    Insurance is provided in respect of the legal costs and expenses for disqualification as a director, extradition proceedings and general investigations.

    Limits range from £25k to £5m.

  • Office insurance

    Office insurance covers your business premises against accidental damages and theft, including:

    -       Office buildings

    -       Office contents

    -       Computer equipment

    Markel’s cover includes an option to cover your business equipment, such as laptops and mobile phones (on a worldwide basis) if you and your employees travel frequently for work.

    You can also cover your company against additional trading expenses and loss of income in the event of a disaster (such as a fire or flood).

  • Legal representation and employment disputes insurance

    Legal representation and employment disputes insurance is essential in case of an employment dispute. Insurance covers your legal and representation costs, alongside any financial award you are required to pay out.

    You are also covered for certain instances of:

    -       Corporate manslaughter

    -       Crisis management

    -       Data protection issues

    -       Identity fraud

    -       Official investigations (excluding HMRC investigations)

    -       Pollution

    Limit of £100k.

  • Cyber and data risks insurance

    Cyber and data risks insurance protects your business from the costs associated with a cyber-attack.

    Costs include:

    -       Informing clients

    -       Meeting ransom demands

    -       Loss of business net profits

    -       Restoring data and equipment

    Cover includes paying your legal defence costs and damages you are liable to pay to affected parties.

    Software developers storing sensitive data on their own devices should consider this cover. Limits from £50k to £1m.

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Frequently asked questions

  • I need to arrange software developers insurance to secure a contract – do you provide proof of cover?

     

    Yes. When you take out software developers insurance with Markel, you will receive your policy documents via email immediately. Included in your policy documents is your ‘Confirmation of Liability Insurance’ - which details the insurance you have chosen - and can be presented to your clients as proof of cover.

  • Is my past work covered?

     

    If you have previously held uninterrupted professional indemnity insurance before purchasing a policy with us, past software development work is covered.

    Our policy is unable to cover past work if, for a period of time, you did not hold professional indemnity insurance.

    Examples:

    -       You have never previously held professional indemnity insurance

    -       You held a professional indemnity insurance policy before, but chose not to renew

    -       Or, you cancelled a previous professional indemnity insurance policy at the end of your contract

    If you require further clarification regarding past work, please call us on 0800 640 6600.

  • What limit of cover should I choose?

    Frequently, in order to undertake contracted work, software developers must have a minimum limit of cover. Industry bodies and clients will define these beforehand – before arranging cover with Markel, you may wish to check their guidelines.

    If this is the first time you have arranged insurance cover, consider the worst-case scenario that could arise while developing software for a client and calculate the likely costs of putting the mistake right.

    Markel offers a wide range of limits and levels of cover, so you can build a tailored policy for your individual needs.

  • What's the difference between professional indemnity and public liability?

     

    Professional indemnity covers you against allegations of professional negligence. This includes instances where you accidentally make an error while working on software development for a client, during planning, programming or testing for example.

    Public liability insurance covers against allegations of injury or illness caused to third parties due to negligence on your part. This covers your business against personal injury claims. Additionally, public liability insurance covers against damage to third-party property.

    For example, if someone were to trip over your laptop wire, injure themselves and make a personal injury claim against you, you would be covered by public liability insurance.

    Both professional indemnity and public liability insurance cover you against different scenarios, you must consider holding both to protect your business. 

  • Why should I insure with Markel?

     

    With over 25 years’ experience in insuring IT professionals, including software developers, Markel understands the risks facing your industry.

    Markel are regulated by the Financial Conduct Authority and Prudential Regulation Authority – you can view our details on the Financial Services Register.

     

    Markel are a division of Markel International, a Lloyd’s and London market insurer that wrote gross premiums of £750 million ($1.0 billion) in 2017.

    Want to know more? Call on 0800 640 6600 to speak to an insurance expert, who can answer any queries you have about different types of cover and talk you through them, step-by-step.

    Alternatively, get an online quote in 90 seconds and start protecting your software development business with Markel today.

Access exclusive contractor services with your Markel insurance policy

When you purchase a policy with Markel, you get access to a number of services including expert advice, legal resources and specialist help (included with the relevant cover):

24 hour legal helpline  24/7 access to a legal advice helpline manned by qualified solicitors

Legal hub access  Access legal templates and resources with the Markel Law Hub

  Support with chasing unpaid invoices with our fee dispute service

  Receive discounted IR35 contract reviews with your policy

  Expert management of public relations crises with The Counsel House

Discover more about these services

Cover starting at just £5 a month