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Errors and omissions (E&O) insurance isn’t just for traditional professions like lawyers and doctors anymore. It’s vital for a wide range of professionals, including but not limited to:
This specialized coverage protects against the financial repercussions of claims for errors you’re accused of making or omissions—things you might have overlooked or failed to do.
Whether you’re an architect facing a design oversight or a consultant whose advice didn’t go as planned, E&O insurance ensures that a small mistake doesn’t lead to a major setback. Tailored for professionals across various fields, our coverage is essential for anyone in the business of giving advice or offering services.
At Statewide Commercial Insurance Brokers, we understand the risks that come with providing professional advice and services. Errors and omissions (E&O) coverage is your safeguard against the unforeseen, designed to protect you from claims of negligence, errors, or omissions in your work.
These are general points; specific coverage details can vary based on policy terms and provider.
Errors and omissions claims can arise from a variety of professional oversights. Here are two examples illustrating how such situations might unfold across different industries:
Without errors and omissions (E&O) insurance, professionals face significant risks. When claims arise due to oversights, the financial burden can be overwhelming. Legal fees, settlements, and damage awards can all jeopardize a business’s financial stability. E&O insurance serves as a crucial safety net, providing financial protection and peace of mind to professionals across various sectors, ensuring they can continue operating even in the face of unexpected claims.
Unlike commercial general liability policies that cover bodily injuries and property damage, E&O insurance addresses claims of professional negligence, including errors or omissions that don’t cause physical harm but can lead to significant financial losses for clients. It’s a crucial layer of protection for professionals against the financial repercussions of these types of claims.
While not always legally required, E&O insurance is highly recommended for professionals providing advice or services, particularly in fields where the risk of professional negligence claims is higher. Some clients or contracts may also require you to have E&O coverage in place.
The cost of E&O insurance varies based on several factors, including your profession, the level of risk associated with your services, the coverage limits you choose, and your claims history. It’s best to get a custom quote tailored to your specific needs and risk profile. For personalized assistance in finding the best quote for your needs, call us and speak with one of our expert insurance professionals.
Enjoy peace of mind knowing we’ve got you covered.
Get a Quote(877) 207-7900
General Liability Insurance keeps your business safe from financial trouble if someone gets hurt or their property gets damaged because of your business. It covers legal fees, medical expenses, and damages. Perfect for any business wanting peace of mind against unexpected claims.
Mandatory in most states, this insurance covers medical expenses and a portion of lost wages for employees who get injured or sick from their job.
Plan for the unexpected. Protect your company’s physical assets, such as its building, and contents, including inventory, furniture, and equipment with commercial property insurance. It covers losses should your business have a fire, explosions, burst pipes, storms, theft, or vandalism.
