What is your profession?
Coverage is tailored to your specific advice and services.
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Who needs Professional Liability?
Also known as Errors & Omissions (E&O), this is essential for anyone who gives advice, offers a professional service, or handles client data. General Liability covers physical accidents; this covers your work.
- IT Professionals: If code fails or data is lost.
- Consultants: If a client claims your advice caused financial loss.
- Real Estate/Insurance: If paperwork errors cost a client money.
What keeps you up at night?
Professional Liability protects you when clients say "You messed up."
Negligence
A client claims you made a mistake or failed to deliver promised results.
Legal Defense
Even if you did nothing wrong, lawsuits are expensive. This covers your lawyer fees.
Financial Loss
Coverage if a client loses money or data because of your work.
What claims does E&O cover?
Professional Liability insurance fills the gaps that General Liability leaves open. It is specifically designed for "economic damages" rather than physical injuries.
What is your annual revenue?
Larger contracts often require higher coverage limits.
Common Policy Limits
Most professional contracts require a minimum of $1 Million in coverage.
- Standard $1,000,000 / $1,000,000: The standard for IT consultants, marketing agencies, and real estate agents.
- High Value $2,000,000+: Recommended for medical professionals, architects, or firms handling high-value financial data.
Bundle & Save
Most professionals add these coverages to their E&O policy:
General vs. Professional Liability
Many business owners confuse the two. Here is the simple difference:
Covers Physical damage. Examples: A client slips in your office, or you spill coffee on their server.
Covers Financial damage. Examples: You wrote code that had a bug, or you gave tax advice that caused an audit.
How much does E&O cost?
Rates vary by industry risk, but most professionals pay between $400 and $1,200 a year.
Photographers & Designers
Creative services generally have lower risk of causing massive financial loss to clients.
IT & Business Consultants
Tech errors or bad business advice can be costly, leading to moderate premiums.
Architects & Engineers
Structural failure or design flaws can result in massive claims, requiring higher limits.