Contact 866-869-3335 so That You Can Get the Right Professional Liability Insurance for Your Business at an Affordable Cost!
Sometimes the biggest things happen when you least expect it. As a professional you have worked hard to establish your career and business, but what happens when a lawsuit is filed because of your negligence while performing services for a client? Offering your services to the public comes with its share of good and bad. But before the BAD happens, contact Paramount Insurance Agency so that you can make sure you get the right professional liability insurance for your business at an affordable cost.
This is a True Story!
A very excited buyer purchased what she believed to be a condominium from the REALTOR and at closing, purchased a condo policy for the coverage she needed to protect the condo unit. A few months after moving in, a large tree fell onto the condo unit, causing an enormous amount of damage.
The homeowner called the insurance company to report the extensive tree damage to the condo, but when inspected, found out that there was NO COVERAGE because what she and the REALTOR believed to be a condo, was actually a TOWNHOUSE. As you can imagine, the panic and devastation set in.
In order for the structural damage to be covered, the owner should have had a homeowners policy. The condo policy that was purchased at closing did NOT cover the structural damages caused to her unit. Because the previous homeowner and listing agent thought it was a condo AND the attorney failed to discover it in the title search, YOU HAVE NO COVERAGE! What if this happened to you?
What is Professional Liability Insurance?
Professional liability insurance, also known as E & O insurance (errors and omissions) is offered to protect you and your business if you are being sued for negligence while performing your professional services.
If the customer claims that they have suffered a financial loss, you could be sued and faced with thousands of dollars in claims costs and legal fees. E & O insurance provides cost protection that arises out of lawsuits filed against you and may still be paid even if the legal claim made turns out to be groundless.
Before you purchase this type of policy, you need to explore potential risks involved in your profession and then contact your local independent agent to find the right type of professional liability insurance policy that covers those risks.
What Types of Professions Typically Need E & O Liability Insurance?
Some of the typical professions that should seriously consider having professional liability insurance include, but not limited to:
- Construction Workers/Business
- Salon Services (Beauticians)
- Personal Trainers
- Mental Health Counselors
- Real Estate Agents
- Doctors (mandatory)
Don’t Let One Bad Apple Spoil Your Entire Professional Career
During your professional career, you WILL run into situations where maybe you fail to give the right legal advice, fail to disclose pertinent information, or may just have a business relationship that has gone sour! Regardless of the situation, if you don’t have the right E & O insurance protection to safeguard you and your profession, one bad situation could spoil your entire career. Losing your professional reputation is devastating and hard to reestablish, if at all. Get the protection you deserve to protect the profession you have worked hard to build! Let Paramount Insurance Agency assist you NOW!