What Is The Cost Of Errors And Omissions Insurance

Errors and omissions insurance helps protect your business from claims of:NegligenceErrors in services givenOmissionsMisrepresentationViolation of good faith and fair dealingInaccurate advice

Errors and omissions insurance helps protect businesses from mistakes or errors in the professional services they provide. So, any small business that regularly gives their customers advice or offers services to clients should get this coverage.

Most small businesses need errors and omissions insurance (E&O) to help protect them from financial loss. This is especially true if you provide advice to customers regularly or you're seen as an expert in your industry. Some professionals that need this coverage include:

What Does Errors and Omissions Insurance Not Cover?Property damage and bodily injury This is sometimes included with contigent BI/PI coverage.On-the-job injuries Any injury that happens on-the-job is not covered by E&O insurance.Willful misrepresentation E&O insurance does not cover purposefully misleading or purposefully erroneous acts. More items...