Errors & omissions insurance
Commercial insurance protects businesses, freelancers, and independent contractors against liability lawsuits, property damage, cyberattacks, and other risks that could devastate your company.
Large client contracts often require high errors and omissions insurance limits. But can you raise or lower your limits when you land a big contract, or if you're working on smaller projects? Here’s the lowdown on adjusting your errors and omissions policy limit.
Also known as errors and omissions insurance, professional liability insurance protects your company from client lawsuits over missed deadlines, mistakes, or negligence – regardless of whether you’re at fault.
Professional liability insurance covers legal costs due to professional mistakes. Any business that provides professional services is strongly encouraged to get this coverage. Your industry and the scope of your services affect the cost of this policy.
Errors and omissions insurance (E&O) is a tech expert's best defense against accusations of mistakes or oversights.
Errors and omissions insurance covers the cost of legal disputes over professional mistakes made by your business. Get your questions about coverage, costs, and more answered here.
Professional liability insurance provides financial protection against legal disputes over professional mistakes. Learn more about coverage, costs, and other considerations.
Errors and omissions insurance and general liability insurance are both types of liability insurance, but they protect your business in different ways. Let’s take a look at why so many IT professionals buy both.
Both professional liability insurance and errors and omissions insurance offer financial protection from client lawsuits over unsatisfactory work. They are essentially the same types of coverage for mistakes in professional services.
Before purchasing errors and omissions insurance (E&O), consider factors such as premium pricing, insurance company ratings, and policy limits.
If your business provides professional advice or services, you should look into errors and omissions insurance (E&O), also called professional liability insurance. This policy can help defer the costs of lawsuits, even if you’ve done nothing wrong, and costs about $60 per month.
IT businesses accused of making professional mistakes or failing to complete work can be sued in an errors and omissions lawsuit. Disclaimers and insurance coverage can help reduce your risks.
Professional indemnity insurance provides coverage when a client sues you over errors, oversights, or alleges negligence in your work even if you did nothing wrong.
Clients might ask to see your errors and omissions insurance certificate, a document that serves as proof of insurance. You can access this certificate as soon as you buy an E&O policy, also called professional liability insurance.