PreferredVerified Q1 2026
Source: ERGO NEXT — Technology Insurance
ERGO NEXT Insurance: Technology Companies Insurance Appetite
NEXT is a viable option for small tech firms and freelance developers who need basic tech E&O. However, the lack of cyber liability is a significant gap for technology companies. Hiscox includes cyber with their tech E&O at no extra cost, making Hiscox the better value for most tech placements. Use NEXT when price is the primary concern.
Available Lines
| Line of Business |
|---|
| General Liability |
| Professional Liability |
| Business Owners Policy (BOP) |
| Workers' Compensation |
Premium Range
$800-$6,000
Typical annual premium
Target States
All 50 states
Key Features
- Tech E&O available for IT consultants, web developers, and MSPs
- Online quoting covers most common technology service class codes
- Fast binding with instant proof of insurance for contract requirements
- Low minimum premiums for early-stage tech companies and freelancers
Limitations
- No standalone cyber liability product — must be placed separately
- SaaS companies with complex data processing may need broader terms from CNA or Travelers
- No umbrella or excess liability available for high-limit requirements
Compare Other Carriers for Technology Companies
Progressive CommercialStandard
$1,500-$7,000
TravelersPreferred
$3,000-$25,000
CNAPreferred
$4,000-$30,000
HiscoxPreferred
$1,000-$8,000
The HartfordPreferred
$3,000-$25,000
EMPLOYERS HoldingsStandard
$600-$4,000
AcuityStandard
$2,000-$10,000
Erie InsurancePreferred
$2,500-$15,000
biBERKPreferred
$1,500-$10,000
AmTrust Financial ServicesStandard
$2,000-$15,000
BTISStandard
$2,000-$12,000
Pie InsurancePreferred
$500-$4,000
NationwideStandard
$1,500-$8,000
Liberty MutualStandard
$2,000-$10,000
ChubbPreferred
$3,000-$20,000
Cincinnati FinancialStandard
$1,500-$9,000
Hanover InsurancePreferred
$1,500-$10,000
Auto-Owners InsuranceStandard
$1,200-$8,000
Guard Insurance GroupStandard
$1,000-$8,000
Markel CorporationStandard
$2,500-$20,000
Coterie InsurancePreferred
$500-$4,000
Selective Insurance GroupPreferred
$3,000-$50,000
Kinsale Capital GroupStandard
$2,500-$30,000
InsureonStandard
$400-$6,000