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Fairfax, VA 22030
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Common Business Insurance Question: Professional Liability Insurance vs Omissions Insurance

- Friday, April 07, 2017

Here is a common questions people ask about small business professional liability insurance.

What is the difference between professional liability insurance and errors and omissions insurance?

Professional liability insurance and errors and omissions insurance are essentially the same thing. People use these terms interchangeably, and they are referring to the same basic product.

Why do I need professional liability insurance?

You often run extremely important and complex projects for your clients that they may not fully understand. Professional liability insurance is especially important for businesses like IT/technology consultants business consultants and marketing consultants for whom incorrect advice or a failure to perform professional services could lead to a lawsuit. Even if you haven’t made a mistake, you can still be sued. A general professional liability insurance policy from TriState Business Insurance will cover legal fees, protecting you and your business from potentially crippling costs.

Even the smallest business owner needs liability coverage. As your independent insurance consultants, we’ll tailor a policy to match your exact risk exposure and give you the peace of mind to concentrate on running your business. Contact us to see how we do this!