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Maryland Errors & Omissions Insurance (E & O Insurance)

Not having Error and Omission Insurance (E & O Insurance) could cause financial loss to your business

Your Maryland business may be very successful but in today’s litigious society are you prepared to cover the costs and stress arising from a liability lawsuit? You can protect your business from attorney’s fees, court costs and any liability judgment with an errors and omissions insurance policy, even if the lawsuit if frivolous.

Professional liability coverage provides coverage for your errors or omissions and fills in the gaps of the general liability coverage.  Just because you have general liability insurance for your business does not mean that all of your exposure is covered.  General liability provides coverage for property damage, bodily injury and personal injury to others.  Professional liability provides coverage against allegations of financial loss by another party.

Who needs professional liability?   More businesses than you think.  Here is a short list of sample businesses that need professional liability:

  • Attorneys/Lawyers
  • Doctors/Nurses/Dentist
  • Beauticians/Barbers/Nail Techs
  • Pest Control
  • Insurance Agents
  • Home Inspectors
  • Design Build Contractors
  • Realtors/Real estate agents
  • Assisted Living/Nursing Homes
  • Accountants
  • Personal Trainers
  • any many, many more

Mistakes happen–especially when you can’t personally be at every job. You don’t want your business health to rely on never making a mistake.  Mistakes could be caused by you or your employees.  Some policies can be endorsed to also include errors and omissions from subcontractors.

One interesting fact is that just as many E&O Insurance claims arise out of Omissions as from Errors.  Failure to act or failure to advise is as likely to cause a claim or lawsuit as advising and giving the wrong information.

The stress of litigation against you can mentally exhaust you from driving your Maryland business. With errors and omissions insurance in Maryland, you can relax, knowing that your court costs and potential liabilities are covered.

For all of the coverage it provides, errors and omissions insurance is one of the least expensive forms of insurance you can get.

You may think that you are covered from these risks by your general liability insurance policy but it typically does not cover contract performance, errors or disputes. You need specific errors and omissions insurance to be protected.

Here are two reasons to act now!

  1. Errors and omissions insurance needs to be purchased prior to beginning a project or ahead of a product launch. Make sure your next venture is fully protected.
  2. You can receive a no-risk E & O Insurance quote within a day. Simply fill out this short form and we’ll get back to you with an inexpensive Errors and Omissions Insurance policy quote.

Huff Insurance in Pasadena Maryland is concerned that Maryland business owners that have a professional liability exposure are not purchasing this important E & O Insurance coverage.  Give us a call and discuss with us all of the services that you offer to see if you need professional liability coverage.  Depending on your type of business professional liability coverage can be added to your general liability policy or it may need to be a separate policy.