We are starting to offer our SaaS product to the clients. We incorporated a company and I am looking at what other things we should be getting.<p>The largest possible risk for us is that in a freak accident all our databases get wiped out and the clients need to go back to paper-based process or use another vendor. The service we offer costs $100 a month. I assume in first year we will make $20k or less. In T&C we have we don't guarantee that any level of service will be provided or the fact their data will be available to them at a constant basis.
You can get Errors & Omissions (E&O) policy using a broker such as <a href="https://techinsurance.com" rel="nofollow">https://techinsurance.com</a>. They will help you find deals with various companies. No affiliation but I have been using them for 5+ years for our business. It can cost you a few hundred USD per year on an average. If you are starting out, you could probably get it under $500 for the first year.
I was looking for an insurance for my Saas recently, and after an intensive research I found many founders and even my lawyer recommending <a href="https://foundershield.com" rel="nofollow">https://foundershield.com</a>. I went with them and I am very happy with the way they treated me and what offer they provided.
You'll definitely need E&O and Cyber if you work with big enterprise level clients. Christine helped us get those for my company, check out her LinkedIn <a href="https://www.linkedin.com/in/christinemarciano" rel="nofollow">https://www.linkedin.com/in/christinemarciano</a> -Alexey
Most of the insurance you need is the usual stuff: general liability, D&O, and workers comp. I don't think anyone would underwrite a policy that covers what you're describing, but you could talk to someone who deals in cyber liability policies and see what they think.
What are cost for GL, E&O and Cyber I could be looking at?<p>I doubt we need cyber as the only information we store that is not public is their name and email address, though this is typically available on their website as they are artists.