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Why You Need Errors And Omissions Insurance

E&O Insurance Irving TXErrors and Omissions Insurance Information

If you have a commercial business, there are a variety of insurances policies that you may find useful. One type of insurance that could be beneficial to you is errors and omissions insurance. Many people do not realize they have exposure to errors and omissions before it happens. Protect yourself before you need the protection. Keep this information about errors and omissions insurance in mind to see if this insurance policy is right for you.

What Is Errors and Omissions Insurance?

This type of insurance covers your company, or you as an individual, in the event of a client holding you responsible for a service you provided or failed to provide that did not have the expected results or affected them negatively. For some professions, such as doctors, chiropractors, dentist, etc. it may be called malpractice insurance. Most policies cover settlements and defense costs in the event of a lawsuit regardless of the outcome.

Who should have Errors and Omissions Insurance?

The most common professionals that need error and omission coverage are doctors, lawyers, architects and the like. However, anyone who deals with clients and provides services, such as advertising agencies or event planners, could benefit from getting an errors and omissions policy.

Why does your business need this insurance coverage?

There are no guarantees in life, and everyone makes mistakes. If you provide a service to people, then you are at risk for errors and omissions. Having an errors and omissions insurance policy can give you peace of mind in case a mistake is made and can prevent a lawsuit from running your company into the ground.

Contact Global Financial & Insurance Services in Irving for all of your Texas business insurance needs.