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A client or customer accuses you of making a professional mistake that costs them money.**
Someone claims professional inaction or wrongdoing caused a financial loss or harm.
Someone accuses you of providing inaccurate information with your services.
You need to hire a lawyer to defend your business after you’re accused of a professional mistake.
An errors and omissions insurance policy can help provide financial protection for you and your business if someone accuses you of a business mistake, professional negligence or not delivering on client contracts that causes a financial loss or other damages.
For example, E&O insurance coverage could help if:
Regardless of whether an accusation against you is true or not, it will take time and financial resources for you to respond.
Errors and omissions insurance policies can cost as little as $19/month† for some low-risk businesses.
Several factors influence the price you’ll pay for insurance, including:
In about 10 minutes you’ll see the exact price you’ll pay for affordable E&O insurance.
Adjust your policy limits and deductibles to pick the right coverage at the right price.
Your coverage is effective immediately after payment. And your certificate of insurance is ready at no extra cost.
If your professional advice leads to a loss for your clients and you don’t carry insurance, your business could be responsible for the full cost of legal defense and settlements.
If your client accuses you of failing to identify a property issue that leads to them seeking compensation for costly repairs, liability coverage could help cover some of your legal defense costs.
If a client claims that the hotel you booked was not as represented and they paid out of pocket for a new stay, professional liability coverage could help you defend yourself.
A client alleges that you failed to properly record important paperwork and sues you for causing a financial loss. Your insurance could help cover the cost if your business is at fault.
E&O for small businesses could be required for some professional certifications and contract requirements.
However, it can depend on your profession and the state where you do business.
For example, a real estate agent might need to buy a real estate E&O policy and provide a certificate of insurance (COI) before signing on with a broker. Insurance agents often need to have coverage before they can work with an insurance carrier or agency.
Even if it’s not required, most businesses that provide a service or offer professional advice can benefit from the protections of E&O. It can help protect you from financial losses and it lets clients know that they may be protected if you make a mistake. This can help build trust and instill confidence in you and your employees.
The rules for real estate brokers vary state to state. Check with your local real estate governing agency for the most up-to-date regulations.
Real estate E&O insurance is required in these states:
Even if you don’t practice real estate in one of these states, E&O insurance could help your business. If you do face legal trouble, E&O insurance may help pay for your defense fees and judgments (up to your policy limits).
You can file a claim anytime online or in the NEXT app.
You’ll be asked to share the details of what happened and to provide relevant photos and documentation. We strive to make claims decisions as quickly as possible so that you can get back to work.
It takes about 10 minutes to get a quote, buy coverage and get access to policy documents and your certificate of insurance (COI).
You can access your documents and COI 24/7 online or in the NEXT app for iPhone or Android.
Yes. NEXT can give you up to a 10% discount when you add a professional liability policy to your existing coverage.
You can add professional liability insurance directly through your customer account.
Although they go by different names, professional liability and errors and omissions insurance can both help protect you if you’re accused of making a professional error that leads to a financial loss for a client.
The name can be different depending on your industry.
It depends on your industry and business operations.
In some cases, we may provide prior acts coverage for businesses that have maintained continuous E&O liability coverage at similar or higher limits since the requested retroactive date.
Yes, NEXT customers can easily add an additional insured and share their certificate of insurance through their customer account.
It was great for me
It really was so simple and easy. Actually easier than the old way, going through an agency. They actually update the info immediately.
Lance R.
Next new thing
I like Next insurance because my e and o insurance cost is quite reasonable, the application process is short, and the certificate is available right away.
RENNELL G.
So dang easy
Super easy process. I have a million irons in the fire trying to launch my business; NEXT made it so easy to get the insurance I need to win new clients. The price was great too.
Andrew R.
Easy and awesome
So simple and easy to use
Levi P.
Fantastic
Easy website to navigate. Great follow up even after the sale.
Debbie D.
Great!
Hassle free and great to work with. Affordable.
Anthony G.
Fast service
"Lightning fast" coverage!
Ted H.
Excellent
I have signed up for Next Insurance and it has been easy to navigate, wonderful for small business. Thank you
Stanley M.
The best service.
Thanks for your help with my needs, I'm very grateful for your assistance and help. I will recommend your company to others
JOEL C.
Online Insurance in minutes!
Next is great. Fast easy website, so easy to pick my personal preferences for coverage. Able to pay online..and recieve your COI immediately. Your Great Next!
Travis M.