This question is regarding working in the USA. For the past year and a half I've just worked as a contract (1099, a 1099 contract worker is someone who is self-employed and works for another company) c# programmer for a local company. I have another company wanting me to do some programming for them. Do I need to get Errors and Omissions Insurance as well as Liability insurance? I'm concerned with getting sued if I make a mistake that costs the company revenue or if the project I'm building for them gets hacked. Also having insurance could be a bonus selling feature to future clients and a competitive advantage over other programmers.
I've done freelance software contracting since 1982 and only get Bus. insur. when client asks for it. I have never heard of a programmer being sued.
Unfortunately, over last few years, Bus. Insur rates have gone way up.
Be careful what you tell an insur. company. Certain keywords are red flags: like automotive. I said automotive, and they practically hung up!
Not int the us, but should be applicable as well. I have basic P&I and usually exclude any liability that exceeds my insurance in the contract. I offer to up the liability if client feels it is needet, but they need to compensate the addirional cost.
Note that total exclusion of any liability would be illegal here in germany. You are always liable for harm to persons and culpable negligence here. So getting insurance is kind of a no-brainer.