Key Takeaways
- Compare coverage details before focusing on price.
- Review limits, deductibles, exclusions, and eligibility carefully.
- Verify final policy details with a carrier or licensed insurance professional.
Professional liability insurance, sometimes called errors and omissions insurance, can help service businesses respond to claims involving mistakes, negligence, missed deadlines, or professional advice.
Who should review this coverage
- Consultants, agencies, accountants, designers, and other service providers.
- Businesses that give professional advice or deliver client work under contract.
- Owners whose clients require proof of professional liability coverage.
How it differs from general liability
General liability focuses more on physical injury and property damage. Professional liability focuses more on financial harm tied to professional services. Many businesses may need both depending on their contracts and risk profile.
