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Professional Liability Insurance

As a business owner, you might have come across professional liability insurance in search of other business plans. As such, you might have found more questions than answers.

What is the difference between commercial general liability insurance and professional liability? And how can it help your business?

We at The Insurance Place are dedicated to answering these questions as well as finding you the right insurance coverage for your California business. After all, our main goal is to provide you with a more well-informed approach to insurance shopping while offering you affordable insurance plans.

Learn all about these business plans and find great professional liability insurance rates right here at The Insurance Place!

What is Professional Liability Insurance?

Professional liability coverage definition: a form of liability insurance that protects your business from malpractice and negligence claims. Commonly known as errors and omissions insurance, these plans protect you from claims in which your business caused damages to a client or client’s property.

Much like surety bond California, a professional liability plan can save your business from financial jeopardy caused by court cases. In a way, you have surety in case you fail to complete a service, while professional liability covers the court costs if you do.

Professional liability insurance helps protect professionals in a variety of fields:

  • Architects
  • Engineers
  • Accountants
  • Dentists
  • Software developers
  • Many more

 

Professional errors and omissions insurance differs from general liability insurance in that the latter only covers bodily injury, property damage, and personal or advertising injury. Professional liability covers claims that aren’t covered by other policies but can still lead to a court case.

Even professionals make mistakes. And when they do, they rely on professional liability to help them recover. Are you a professional in your field? Get professional insurance now and get protected!

What Does Professional Liability Insurance Cost?

You can choose from our many different types of insurance to protect your business. Available at a variety of budgets, we stand out among professional liability insurance providers to give you great coverage.

So if a business owners policy offers you well-rounded insurance and a general liability plan covers your basic needs, why do you need professional liability insurance?

Look at it this way: a liability claim can cost you hundreds of thousands of dollars. These claims can arise from several circumstances:

  • If you failed to perform a product or service
  • If your client suffered a financial loss as a result of your work
  • If your product or service contained an error or omission

 

When your business is found liable for an alleged failure to perform what was promised, your business might not have the funds to pay for it. If you can’t recover from an expensive, lengthy court case, your business could face closure. Therefore, the relatively low professional liability insurance cost is many times worth what your business could potentially suffer.

Do You Need Professional Protection? Get Insured Today!

So why buy professional liability errors and omissions? After all, other insurance plans exist to protect your business from liability claims. However, when you need an absolute amount of protection for your business, these plans can save you from paying thousands of dollars in court costs.

Affordable professional liability coverage is out there for every kind of business—for consultants, brokers, and even medical professionals. If you provide advice or a service, you could be found liable for an error or omission in your service. Don’t endanger your business by not having the right amount of coverage!

Contact us or call at 877-358-7722 and get the right policy for your needs. With the great coverage of a professional policy, you’ll have everything you need to protect your business.

From the time I walked into the door of The Insurance Place, there was nothing but fantastic service given to me. I was just starting insurance on my own and branching off of my parent’s insurance to be independent. Rod Danger and his team were extremely helpful to the wants and needs that best suited me. They found me the lowest rates with the best coverage that was affordable. Whenever you have questions, The Insurance Place are there to answer every question asked. I love their customer service and plan to continue to be a loyal customer for a very long time! Thank you Insurance Place!

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- Chrisha Baskerville, 2011
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