If you make an error, we’ll make it better.Get Instant Quote
You didn’t disclose a defect in a major real estate sale.
A promising stock tanks, wiping out your client’s investment.
You forgot to renew a client’s car policy & they get in an accident.
An errors and omissions insurance policy, also known as professional liability insurance, provides financial protection for you and your business if you are accused of making a mistake, professional negligence or not delivering on business agreements.
Regardless of whether an accusation is warranted or not, it will take time and financial resources for you to respond. Small business errors and omissions (E&O) insurance can provide coverage for associated costs up to your policy limit, helping you to avoid disruptions to your business and out-of-pocket expenses.
Most businesses that provide a service or offer professional advice can benefit from an E&O policy. Common business types that purchase a policy from Next Insurance include:
It’s important to include E&O insurance in your business insurance package to make sure you are protected from risks you could be exposed to while making business decisions with your clients, customers or business partners.
For example, E&O can cover costs up to your policy limit if:
Here are some other benefits of errors and omissions insurance:E&O insurance can help you get more clients
When you have errors and omissions insurance, you’re letting your clients know that they will be protected if you make a mistake that financially hurts their business.You might be required to have E&O coverage for contracts and certifications
For many professions, E&O insurance could be required to get a professional certificate or license, or your clients might ask you to have coverage before they sign a contract with you.
For example, a real estate agent might need to purchase a real estate E&O policy and provide a certificate of insurance before signing on with a broker. Insurance agents often need to have coverage before they can work with an insurance carrier or agency.E&O can cover costs to defend your business
Business disagreements can escalate into legal actions. If your business is accused of professional negligence or making a mistake that causes financial harm, your errors and omissions coverage can help you pay for related expenses until you reach your policy limit.
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:
E&O business insurance (also known as professional liability insurance) helps pay for lawsuit costs and damages if your company is accused of work errors or incomplete projects that cause a client to lose money.
E&O can help pay for:
Learn more about what E&O covers.
Errors and omissions insurance and professional liability insurance both offer the same coverage. The only difference is that some industries commonly use the term “E&O insurance” — including tech professionals, real estate agents, and insurance agents.
Professions that call the coverage “professional liability insurance” include accountants, lawyers, architects and engineers, and other businesses.
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.
E&O insurance starts at $19 a month but may vary based on your coverage needs, your exposure to risk and your claims history.
The cost of your errors and omissions insurance monthly premium is determined by several factors involving your business operations, including:Your exposure to risk
Choose the option that works best for your coverage needs and your budget. You can save 10% on insurance costs by bundling your E&O coverage with another policy, such as general liability, workers’ compensation or commercial auto insurance.
When you are ready to purchase your policy you can choose an E&O insurance monthly premium or annual payment options.
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. Here’s how the process works:
We’ll ask you some basic questions about your business and operations, including:
After you share your information, you’ll have instant access to a customized insurance quote for E&O and other recommended coverage.
If you like what you see, you can adjust the package limits and make your purchase. Your insurance will begin immediately after payment, and you’ll have access to your certificate of insurance.
Learn about E&O insurance with more frequently asked questions about our coverage. If you don’t find the answers you’re looking for, our licensed insurance advisors are standing by to help.
Get insurance in less than 10 minutes and save up to 30%
Unique, flexible coverage with easy monthly payments
Do it all 100% online or talk to a licensed U.S.-based advisor
Business insurance is divided into different policies. We offer 7 types so it's easy to design the coverage that fits your business.
Protect yourself from accidents that cause physical injury or damaged property.Learn More
Shield yourself from lawsuits that claim your work errors caused financial losses.Learn More
Cover medical bills and lost wages if your employees have an accident at work.Learn More
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.Learn More
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.Learn More
Keep your building, inventory and equipment protected from fire, flood or water damage.Learn More
Combine general liability and commercial property into one policy to protect your business.Learn More