FAQ_category: (HIDDEN) Industry FAQs

Real estate professionals often require: 

• Errors & Omissions (Professional Liability Insurance): crucial for claims involving failure to disclose, contract mistakes, or inaccurate advice. 

• General Liability Insurance: covers third‑party bodily injury or property damage during open houses or client visits. 

• BOP (Business Owner’s Policy): a bundle of property and liability coverage that often includes business interruption. 

• Commercial Auto Insurance: required if you use vehicles for client meetings or showing properties. 

• Cyber Liability Insurance: recommended if handling client data, contracts, or personal information digitally. 

With the right policy set, your IT business is protected from: 

• Third‑party claims: injury, property damage, improper advertising (general liability). 

• Service errors or professional mistakes leading to client loss (E&O coverage). 

• Cyber risks: data breaches, downtime, or ransom payments after an attack. 

• Property losses: damage to your hardware or office from theft or disaster. 

• Auto claims: if delivering equipment or visiting clients by company vehicle. 

On average, IT consultants pay between $500-$1200 a year for protection.   

Cost can vary depending on your: 

• Location 

• Size 

• Value of Equipment and Tools 

Gild will work with you to find the right tailored coverage that fits your budget and your needs. 

Yes! Cyber liability is critical in today’s landscape: 

• Covers ransomware attacks, data breaches, or business disruptions tied to cyber incidents. 

• Often required by clients or licensors before sharing data or code. 

• Supports response costs like investigations, notifications, and legal defense. 

• Helps preserve your reputation by covering public relations, credit monitoring, and recovery. 

An IT business typically requires multiple layers of protection: 

• General Liability Insurance – for third-party bodily injury, property damage, or advertising-related claims. 

• Professional Liability (E & O) – to cover lawsuits from alleged mistakes in your services, coding, or advice. 

• Cyber Liability Insurance – provides coverage for data breaches, ransomware, or disruptions to your IT operations. 

• Commercial Property Insurance – protects your office, servers, and equipment from physical damage. 

• Commercial Auto Insurance – needed if your team uses company vehicles or travels to client sites.