Insurance for software developers
Customisable business cover for developers, coders and programmers in the software industry, with no long-term commitments, from just £5 per month.
Why choose Superscript for software developer insurance?
Software developers, coders and programmers work at the cutting edge of the digital economy, and with that comes a set of unique risks. With Superscript, you can build the perfect tailored policy that includes all the cover you need to have confidence that your business is protected.
From professional indemnity and public liability, to business equipment and cyber cover, you'll only pay for what you need, when you need it.
- Rolling monthly subscription with no annual contracts
- Change or cancel at any time with no fees
- Instantly download your policy documents
- Get a quote in as little as 4 minutes
What covers do software developers need?
Professional indemnity insurance
Professional indemnity insurance covers mistakes arising from your services, including compensation payments if your client suffers financial loss, fines, contract disputes, legal costs, IP and copyright disputes. This is considered essential for anyone offering advice and professional services.
Anyone working in the digital economy will know that cyber security is crucial. With cyber-attacks on the rise and regulations such as the GDPR and PCI DSS in force, a breach could be devastating to your business or your client's business. Even with protection from the most up-to-date security solutions, it's impossible to protect against all manner of breaches. This is where cyber insurance comes in, providing market-leading 24 hour beach response support, compensation costs as well as associated penalties and legal costs.
Public liability insurance
Public liability insurance is a cover to consider if you ever work around other people, even working remotely outside an office. If you accidentally injure somebody, or damage their property, you could end up with an expensive claim against you.
Employers liability insurance
Unlike other types of business insurance, employers liability insurance is a legal requirement in the UK if you hire anyone in a business capacity - whether full-time, part-time, paid or unpaid.
You must have employers liability cover if there is anyone on your payroll, and your business could even be fined up to £2500 for each day that you don't have cover in place.
Business equipment insurance
Our business equipment cover can protect the equipment that is vital to your business as a software developer against loss, damage or theft. Enjoy peace of mind knowing that your gear is protected, whether it laptops and computers with specialised software, the phones you use to communicate or any other equipment that your business uses, in the office or out and about. Most of our claims are settled within 48 hours so we will get you up and running again in no time.
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Software developer insurance claim examples
There are many different situations in which you, as software developer or programmer, may require business insurance. Here are a few examples of claims where you could be liable, or entitled to a payout.
You are hired on a freelance consulting basis by a company to advise them on developing a new app. Mistakes in your advice lead to the company losing money and business. Your professional indemnity insurance covers the compensation owed if a claim is made against you.
After a flood at your offices, a number of your company computers are water damaged and left unusable. Your business equipment insurance will kick in and cover the cost of repairing or replacing the broken computers so you can get on with your business.
While developing a new piece of software for a client business, a cyber attack causes a data breach and private details are compromised. Cyber insurance covers any legal and compensation costs and provides you with 24/7 professional breach support.
During a meeting with a client, an employee of your software business accidentally spills hot coffee on a client, causing burns to their skin. Your public liability insurance can cover the cost of a claim made against you.
How do claims work?
You make a claim
Log in to your online account and go to the ‘Make a claim’ section. There, you can make a claim directly – there's no need to call us.
We'll ask you for some details about your claim, including a crime reference number (if applicable), the date of loss, the amount of compensation being demanded of you, the type of claim and its detailed description.
You can also attach any relevant supporting documentation like proof of loss or purchase, of a solicitor's letter outlining a claim being made against you.
We'll get on the case
Once submitted, your claim will be assessed.
If the claim is large, we may need more information from you. Or, if it's small, our team may be able to settle it within a couple of days (or hours, in some cases).
Either way, we'll keep you regularly updated and you'll be able to see the status of your claim on our customer portal.
Your claim is settled
After it's been assessed, we'll let you know if your claim has been successful or not.
If items have been lost, stolen or damaged, we might arrange for the items to be replaced or make a payment to you.
If you owe compensation and legal costs after a claim is made against you, this will promptly be covered by your policy.
Software developers' insurance FAQs
- The cost of a claim against you could potentially be very expensive.
- Clients will often insist upon some level of cover (of professional indemnity insurance in particular).
To expand on the first point: We all face risk when working. From hot coffee on important equipment to disastrous coding mistakes, accidents happen and when they cause damage or loss to someone, a claim may arise.
When you’re an employee, your employer is responsible for arranging business-related insurance. But as a self-employed professional, it’s all on you.
Being self-employed leaves you particularly vulnerable to contractual risks. For example: If the terms of a contract cannot be met for whatever unintentional reason, this would leave you as the contractor liable for the alleged cost to the client of your contract not being met. If something were to go wrong during the course of your work for the client (e.g. you accidentally breaking a system, causing downtime), again, this could be expensive for the client and leave you liable for picking up the cost.
To expand on the second point: Clients understand the risks faced by a contractor and how expensive a claim could end up being. This means that regardless of the financial risk to you of facing a claim, you may find that being uninsured means you miss out on being considered for contracts altogether.
Professional indemnity insurance covers claims made against you by clients due to alleged contractual failings on your part, causing the client to lose money.
Key examples of the types of claim are:
- Failure to meet contractual obligations, e.g.
- Project delivery timelines
- Project completion
- Loss of documents or data
- Breach of confidentiality
Intellectual property infringement (covered by media liability which comes as standard with Superscript’s professional indemnity cover)
This depends. If you are working solely from a home office, for example, and never coming into contact with other people while working, then you may feel that public liability isn’t worth having. However, if you’re working among other people at all - whether at a client’s office or even a cafe, it’s definitely a cover to consider.
Yes. All business insurance premiums are considered as an 'allowable expense' by HMRC, meaning that you can write off the cost of your premium against your taxable income in your your company's corporation tax return, or self assessment tax return if you are self-employed. Just remember to keep a record of your payments as proof.
No, individual software developers are not legally required to have business insurance. However, if you run a software business that has any employees, then you are legally obligated to hold at least £5 million in employers liability cover.
Superscript's employers liability insurance includes £10 million of cover as standard for legal and compensation costs associated with any claims made by employees.
Also, when it comes to deciding which cover to take out, it is worth considering how your business might fare without covers such as public liability, professional indemnity and business equipment cover. Without insurance, many businesses would not be in a position to pay the costs associated with a claim against them or the loss of specialist equipment.
Superscript's business insurance starts at just £5 per month, but the cost of your policy subscription will depend on a number of factors, including the size of your business, whether or not you have employees, the number of different covers you want and the size of the limits.
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The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at www.fca.org.uk or by calling the FCA on 0845 606 1234.
A-rated financial strength
Our insurance products are underwritten by Standard & Poor’s A-rated financial strength or higher. This means the underwriter has been independently assessed by the world’s leading credit rating provider and found to have a strong capacity to meet financial commitments (pay claims).
Protected by the FSCS
If you are a business with an annual turnover under £1m, charity with an annual income under £1m, or trust with net assets under £1m, then you will be entitled to compensation from the FSCS in the unlikely event we cannot meet our obligations. Full details and further information on the scheme are available at www.fscs.org.uk.