Errors and omissions insurance is easy to understand and affordable when you work with one of our licensed sales representatives.
What is errors and omissions insurance?
Errors and omissions insurance is a form of professional liability insurance that protects your business from claims made against mistakes.
This type of insurance is different from traditional business owner’s insurance and instead focuses more on coverage from court costs and other settlements.
Who is this type of insurance for?
Mistakes are unavoidable in business. However, the repercussions of these mistakes can hurt your business financially.
Purchasing errors and omissions insurance protects your business from various claims, protecting your business from expensive lawsuits.
What does it cover?
This type of professional liability insurance covers various claims, including:
- Inaccurate advice
- Breach of good faith and/or fair dealing
- Errors made during a service contract
- General negligence
- And others!
As you can see, errors and omissions insurance covers a broad range of different liability scenarios.
It’s important to remember that mistakes happen. Chances are, sooner or later, someone will file a complaint against you. Therefore, it’s essential to have the correct insurance in place, whether or not any form of liability took place.
Without this insurance, the costs of the claims court fees could be so high that it risks closing your business for good.
Besides, even if a customer is to file a claim against you, then you’re still looking at expensive court fees.
As a small or mid-sized business, these costs can be problematic. So, take action and protect your business today.
Associated costs related to errors and omissions
We’ve already discussed what errors and omissions insurances covers. However, we haven’t said where this money goes.
- Court fees
- Admin and attorney costs
- The final verdict – settlements
Take action today and protect your business against liability
We’ve said it before, and we’ll say it again: mistakes happen. As a business, you can do your best to avoid these mistakes. However, sooner or later, something may happen out of your control.
Purchasing the right types of insurance, including errors and omissions, is the best way to protect your business from liability claims.
This type of insurance is available to a wide range of businesses, including marketing firms, hair salons, accountants, engineering firms, advertising agents, and more.
Contact us to learn more about errors and omissions insurance, including getting set up and finding the best deal for your business.