Technology professionals buy their E&O and cyber as one combined policy, and the combined premium runs from about $500 for a freelance developer to five figures for MSPs with security clients. It’s the professional line where your own security posture directly moves your price — carriers now quote MFA-enabled firms materially better.
Typical IT professional insurance costs
| Business profile | Typical annual E&O premium range* |
|---|---|
| Freelance developer/consultant, under $150k revenue | ~$500 – $1,200 |
| Small consultancy, $150k–$500k revenue | ~$900 – $2,500 |
| MSP or dev shop, $500k–$2M revenue | ~$2,000 – $6,000 |
| MSP with security services / SaaS with enterprise clients | ~$4,000 – $12,000+ |
*Illustrative market ranges from typical small-business placements; actual premiums depend on revenue, limits, claims history, state, and carrier appetite. Not quotes or offers of coverage.
What moves the price
What you build or manage sets the band: staff augmentation prices lowest, custom development in the middle, MSP work — with its standing access to client systems — highest, and security services top the chart because the claims are contingent on other people’s breaches. Revenue, contract sizes, data volumes, and your controls (MFA, backups, EDR) fill in the rest. Enterprise clients demanding $2M limits add premium but usually less than expected.
How IT professional pay less without cutting coverage
Turn on MFA everywhere before applying — it’s the single largest controllable pricing factor, and some carriers won’t quote without it. Buy E&O and cyber as one form rather than two policies (cheaper and no coverage seams), answer security questionnaires accurately, and revisit limits at contract time instead of paying for $2M year-round if only one client requires it.
Full coverage details are on our IT Professionals professional liability page, and the mechanics of limits, claims-made coverage, and deductibles are in the master cost guide. Ready for real numbers? Compare quotes from multiple A-rated carriers in minutes.
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