Understanding Professional Liability Insurance
As a business owner, it is hard to admit when we have made mistakes. To help you keep your business protected in the rare event that you have made a mistake, you need professional liability insurance. With professional liability insurance, or errors & omissions, your business will be protected in the event that your products, services, or advice has caused financial damage to a customer. Without this form of protection, your business could be at risk of losing valuable resource, property, and reputation.
What Professional Liability Insurance Typically Covers
To be certain that you can benefit from professional liability insurance, here are a few things that this policy can cover:
At B2 Insurance, we have over 15 years of experience working with some of the best insurance companies in the South Bay and across the nation. With this, we can leverage our relationship to get you the best coverage at preferred rates you simply can’t find anywhere else.
What is professional liability insurance?
With professional liability insurance, you can get coverage for your legal expenses when a customer or business partner claims to have suffered a financial loss because of your services.
This type of insurance will cover the legal defense fees and settlements or other judgments that come from the case, allowing your business to save thousands upon thousands of dollars.
Do I need professional liability insurance?
If your business offers a skilled service, advice, or products that requires years of technical training, you need professional liability insurance. This is the only type of insurance policy that keeps your business protected from errors caused by miscommunications, failure to perform, or error in contract that have resulted in financial loss from clients.
How much does professional liability insurance cost?
It depends on what type of business you operate, where you operate in, and who you operate with. All of these factors must be taken into account. The best way to ensure you are getting the coverage you need for your business is to speak with a professional.
At B2 Insurance, we take the time to get to know your business and its goals to help you find the best coverage for your specific needs at the best rates. Because we have over 15 years of experience working with some of the best insurance companies across the nation, we can provide you with a series of quotes before you make a decision. This allows you to get all of the best options for your business presented in front of you with little effort on your end to ensure you are getting the right plan for your business.
What is the difference between professional liability insurance and general liability insurance?
With general liability insurance, your business will only have coverage from physical harm, while professional liability insurance covers you from economic damages.
Depending on your type of business, you might only need one of these insurance policies. To ensure you get the best coverage for your exact needs, consult with one of our professionals. We will take the time to get to know your business and its goals to help match you with the best policies at the best rates.