Professional Liability Insurance
Professional Liability Insurance Information
If you own a business, you know mistakes can happen unpredictably. For businesses that provide professional services, these mistakes can cause a customer to sustain a financial loss and file a lawsuit against your business. Fortunately, professional liability insurance, also called errors and omissions insurance (E&O), is available to protect against such claims. Find out if this coverage is right for you by speaking with an agent at States Insurance Agency.
What Is Covered Under Professional Liability Insurance?
Professional liability insurance protects your business from risks faced while providing professional services. Claims filed by customers usually pertain to:
Having this type of insurance will help cover the legal defense costs so you won’t have to pay them out-of-pocket, which could be costly. Professional liability insurance won’t cover everything, so be sure to contact your agent to speak about your specific needs.
Is Professional Liability Insurance Required?
Depending on the type of business, professional liability insurance may be required in your state. It’s important to check with your state’s regulations before making your final decision. Consider professional liability insurance if any of the following pertain to you:
Your contract requires you to carry coverage.
You offer professional services directly to customers.
You regularly give advice to your clients.
How Much Does Professional Liability Insurance Cost?
The cost of your professional liability insurance will differ depending on a few factors. Any of the following could impact the cost of your policy:
Discuss your needs with your agent to receive a quote on your professional liability insurance.
Contact Us Today
Here at States Insurance Agency, we want to help you keep your business safe from unexpected liability claims. To determine which policy is right for you, contact your agent today.