Where to buy errors and omissions insurance

For example, a printer has different risks than an electrician. Both have the need for liability insurance, yet each needs a completely different type of coverage. Judgments — Covers the decision of a court or judge, up to your policy limits. Attorney fees — Covers your attorney fees for defending your business in court, up to your policy limits. Court costs — Covers your business defense case court costs, up to your policy limits. Some of the factors that determine how much you pay for errors and omisssions insurance include your:.

Clipboard-flat Claims Envelopes-flat Pay a bill. All business insurance ». Small business types. Retail Wholesale Photography Professional offices Consulting. Larger business types.

Commercial agribusiness Construction Breweries Senior living Specialty care. For example, if there is a fire in an apartment building, a tenant could file a professional negligence lawsuit that claims the property manager did not properly inspect smoke detectors.

Some other areas where errors and omissions insurance can provide coverage, include:. Errors and omissions insurance and professional liability insurance both offer the same coverage. Bottom line: whether you call it errors and omissions insurance or professional liability insurance, you can get customized coverage and proof of insurance for your business in a matter of minutes with Next Insurance.

The cost of your errors and omissions insurance monthly premium is determined by several factors involving your business operations, including:. Choose the option that works best for your coverage needs and your budget. With Next Insurance, you can purchase errors and omissions coverage online and get your certificate of insurance 10 minutes, or less. Start an instant quote to see options for your business. If you like what you see, you can adjust the package limits and make your purchase.

Start a free instant quote today. Business insurance is divided into different policies. We offer 7 types so it's easy to design the coverage that fits your business. Login Get Instant Quote. Get Instant Quote. What is Errors and Omissions insurance? Who needs Errors and Omissions insurance? Common business types that purchase a policy from Next Insurance include: Insurance agents Real estate agents and brokers Home inspectors Property managers. Why is it important? It helps protect small business owners if a client holds them responsible for losses based on mistakes or erroneous advice supplied by the business.

An Allstate agent can answer coverage questions and help you find ways to protect what matters most. Errors and omissions is a special kind of insurance for professionals who provide services or advice, the Insurance Information Institute III says.

For example, suppose a client sues you for alleged negligence, providing inaccurate advice, misrepresentation or violation of good faith and fair dealing, the III says. In situations such as these, errors and omissions insurance may help cover the cost of your legal defense or a judgment or settlement against you, according to the Insurance Journal. Many types of businesses and business professionals may benefit from errors and omissions coverage, the III says. Keep in mind that you may need to pay a deductible before errors and omissions insurance begins to help pay for a claim.

And, like any type of insurance, your policy will only pay up to its coverage limit. Your local agent can tell you if your insurer offers errors and omissions insurance, which some companies call miscellaneous professional liability insurance, and help you purchase this coverage.

Your agent can also help you review other business insurance options so you can select the coverages and limits that fit your needs. Although errors and omissions insurance can help in a number of situations, it does not cover all business-related liability claims, the III says. For instance, dishonest actions or losses that you intentionally cause are not covered by errors and omissions insurance.

However, you may be able to purchase separate coverage to help protect yourself against those types of claims. You may want to consider other types of business insurance to help protect you against scenarios not covered by errors and omissions insurance. For instance: Commercial general liability coverage. This coverage is typically part of a standard business owners policy. It may help pay for costs such as your legal expenses or another person's medical bills resulting from an accident at your business.

Product liability insurance. This coverage helps pay for expenses that result if a product that your business designs, makes or sells injures another person or damages their property.