Get a quote


Join Our Distribution List Today!

Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE
ALIGNED Insurance

Call Toll Free

Automation Company Insurance

ALIGNED - CLICK HERE to get a FREE insurance quote now - Header - June 2021
Want insurance? Click HERE to get a FREE QUOTE!

Depending on the circles you hang out in, automation is a hot topic for businesses that are seeking efficiency and results. As a company that specializes in delivering automation, you’re the business that helps other businesses become more efficient. 

However, any time you’re digging into a customer’s established processes in order and creating automated solutions, there’s a real chance that you could find your company on the business end of a complicated lawsuit. 

Automation company insurance makes it easier for you to protect your business and everything you’ve worked hard for to date.

The 3 Types of Automation Company Insurance That Business Owners May Wish to Consider

Automation Company Insurance
Looking for an insurance company for your automation company in Ontario? Click HERE to get an online quote now!

1. Cyber Liability Insurance – Why is This Insurance Important?

According to Statistics Canada, 21% of businesses were affected by issues of cyber security in 2019.

If your business is storing or managing customer records electronically, a data breach could potentially have far-reaching consequences. Similarly, as an automation company, you may very well be writing programs that other companies use for their own data management. 

Cyber liability insurance can provide coverage as you navigate the liability disputes that can come out of privacy concerns, cyber extortion, and hacking attempts.

2. Commercial General Liability – What Does it Cover?

If you operate out of an office, commercial general liability insurance is one of the first coverage options that your agent may wish to discuss.

For starters, a client could come in to discuss a project only to slip on the stairs while carrying an expensive laptop. Plus, even if client injuries may seem unlikely in your case, commercial general liability insurance can also cover defence costs, tenants legal liability, and even false advertising claims.

Also, automation doesn’t always work as it should and whether it’s the damage new automated machinery could cause to the property, product line, goods being manufactured and/or the building itself commercial general liability can also cover the property damage caused to third parties as a result of the installation of your equipment.

In other words, commercial general liability insurance can cover a wide range of scenarios that automation companies can easily find themselves in.

3. Professional Liability Insurance – What are the Risks You Need to Cover?

When you’re introducing an automation platform, preparing designs and/or making suggestions to improve a client’s internal processes, there’s a certain amount of risk involved on both sides.

If mistakes in the assessment & design stage occur or an employee accidentally overlooks an important task/step during the design process it can have serious financial implications like down time, cancelled orders, brand damage etc.. At the same time, if a customer determines that they’ve lost money due to a program you’ve written or a system you’ve changed, they may choose to seek compensation.

Professional liability insurance, also known as errors and omissions insurance, offers you with coverage in the event that a mistake or an oversight results in economic loss for your client.

Related Articles

Here’s Why You Should Hire a Broker for Your Automation Company Insurance Needs

As the decision-maker of an automation company, you’ve already got a lot on your schedule.

When you’re not generating leads and getting to know your customers, you’re working on projects and supervising installations – or following up with the staff who are responsible for those tasks. 

Putting together an insurance coverage plan that doesn’t leave your business exposed to potential risks can be complicated. Hiring a reliable insurance company can make it easier to choose the coverage options that make the most sense for your business.

Contact an ALIGNED broker and get your FREE quote today. 

It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!

We’re ALIGNED across Canada. The ALIGNED Insurance National Operations Centre in Cambridge, Ontario supports our Toronto, Calgary and Vancouver offices. Our industry peers consistently recognize us as one of Canada’s best insurance teams. 100% Canadian-owned, we are super proud to be one of the fastest-growing insurance brokerages in the country.

We deliver e-news you can use. Get practical business insurance insights in your inbox every month. 19,000+ people subscribe to our free ALIGNMENT Matters e-news. Just click the JOIN OUR DISTRIBUTION LIST button – at the bottom of our homepage – to get connected.

365 | Get ALIGNED. Every day, Canadian business leaders read our insurance insights. Find us on LinkedIn, TwitterFacebookInstagram and YouTube.

Leave a Reply

Your email address will not be published. Required fields are marked *