4 Reasons To Get Error & Omissions Insurance Now

By Author: Stephanie Aiello
Total Articles: 739
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Error & omissions insurance policies protect your company from potential claims that could cost you a large sum of money. E and O insurance policies can be tailored to your business operation and shield you from allegations against a product, service, or even advice. If your company has fallen short of expectations or provided a faulty service, error & omissions insurance can save you money, time, and your reputation. Plans can even include protection against lawyer settlement fees. Take a look at these essential reasons to consider E and O insurance for your business.

Everyone Makes Mistakes

Although we don’t like to admit it, no one is perfect. Every once in while, you may make an error in guidance or service. Also, some of your clients could submit false claims against your company for personal gain or to discredit you after a less than satisfactory experience. To avoid harsh legal repercussions, make sure your business has a comprehensive error & omissions insurance policy. Every business deal made with a client carries potential risk, whether you are in medicine, ...
... realty, finance, or the service industry. E and O insurance safeguards your company’s monetary worth and credibility.

Defense Expenses Covered

Appearing in court is unfortunately a required step in many legal cases. Error & Omissions insurance policies offer coverage for attorney charges, courtroom costs, and defense settlements. These expenses alone could put your company under. E and O insurance is crucial when you want to save your bottom line.

Employees and Subcontractors Protected

The more people involved in your business operation, the higher your risk for an error & omissions claim. E and O insurance covers employees and even subcontractors so that you have peace of mind. If you subcontract work, you may not communicate with those independent workers as often as your in-house staff. It is important to stay on the same page with all members of your operation so that error and omissions claims are avoided. E and O insurance helps this effort by explicitly outlining which implications are covered.

Higher Quality Service Level

Error & omissions insurance policies allow you and your employees to provide more thorough service than if you did not have coverage. Without E and O insurance, you may walk on eggshells to avoid making mistakes or offering flawed guidance. Since liability is not a make or break issue with an error & omissions insurance plan, you can offer better quality service and your clients will be satisfied with what they have invested in.

An E and O insurance policy gives your business the opportunity to provide outstanding service to every individual client. Instead of taking huge risks that are damaging to your company’s integrity and funds, consider a customized error & omissions insurance plan. E & O claims can instantly destroy the business you worked so hard to build – protect yourself by speaking with an E and O insurance agent today.

Stephanie Aiello is a freelance writer for Elite InspectInsure, protecting your business with error & omissions insurance. For more information about e and o insurance, visit our website: www.eiipro.com