Professional liability insurance, also called errors and omissions insurance, can be an essential part of running your own business. If you hold one of the following jobs, it might be time to consider this form of insurance coverage.
Contracting is one of the main industries utilizing professional liability insurance. During building, there is the potential for error, which can leave a professional at risk of a lawsuit. Professional liability insurance can also help if you run past a deadline or are required to add to the cost of a project.
A fitness trainer is another major job that often benefits from professional liability insurance. A client may incur an injury during your training, for example, and file a lawsuit claiming your negligence.
Accountants and bookkeepers frequently use professional liability insurance to safeguard themselves in case of mistakes in the workplace. For example, it protects against malpractice or potential liability claims.
If you’re in the healthcare field, you may need professional liability insurance. Coverage can help in cases of bodily injury, property damage, or liability for personal injury.
According to insurance agents such as Arroyo, if you are in a service-based profession, you are likely someone who needs professional liability insurance. Your local agent can help you determine if you’re a good candidate and can help you personalize your plan, too.