Game Developers Need The Following Insurance
Business Liability Insurance (GL): If people ever visit your place of business – whether to take a tour or drop off something you need – general liability is a necessity. This coverage is responsible for covering the medical bills of people who get injured on your business property. If a visitor’s personal belongings are ruined or stolen from your office, general liability will also pay to replace or repair them. Clearly, general liability is an important aspect of your game developer insurance policy.
Professional Liability (E&O): When you provide game development services, you need professional liability as part of your policy. When your game developer insurance policy includes this coverage, you can be sure it will pay for any damages or medical problems that your customers experience as a result of your work.
Business Personal Property Insurance: You need BPP to pay for the repairs your office might need at some point. One example of a fairly common incident is a fire, which can destroy a building within minutes. If this ever happens to you, you will be relieved to know that BPP will pay for the repairs to the building and anything inside of it. The same goes if your place of business gets vandalized, broken into, or destroyed by extreme weather. This is helpful to know if you have no other way of paying for repairs when the worst occurs to your business property.
Workers Comp Protection: If you employ anyone in the game development industry, it’s a good idea to get workers compensation. In fact, it’s actually required in most states, so you might as well add it to your game developer insurance policy now. This will ensure that your employees will not have to pay for their own hospital bills if they ever get injured in the office. Whether they trip over an extension cord or become ill as a result of being exposed to asbestos in the building, workers comp will pay for their visit to the hospital or doctor. This part of your game developer insurance policy will also pay employees any missed wages.
Umbrella/Excess Liability: Getting just general liability is no longer enough to protect yourself if there is ever a tragic incident at your workplace. If you want to make sure your game developer insurance policy has high enough limits to pay for most property damage and personal injury claims, you need excess liability.
Cyber Crime Liability: When you are in the gaming industry, you know very well how common cyber crime is. And when you work online so much, you’re likely to end up being a victim at some point. That’s why you need cyber crime liability as part of your game developer insurance policy.