A general liability insurance policy provides coverage for incidents such as:
Errors and omissions insurance is for businesses that provide professional advice or services. It can cover things like:
So, general liability does not cover errors and omissions, but there is insurance for that type of professional liability.
Professionals in many fields can benefit from the financial protection of errors and omissions insurance, including:
These are just a few examples. If you provide professional advice or services and think you might need errors and omissions insurance, contact us and we can help you decide if coverage is right for you.
biBERK’s E&O insurance policies start around $300 annually and can go up into the thousands. This cost is based on a number of factors, such as your specific industry, the level of coverage you choose, your years in business, number of employees, revenue, and the policy limits you need.
You can determine your E&O insurance cost with an online quote. It takes just a few minutes, and you’ll likely find that compared to the financial impact from a single professional liability lawsuit, protection is very affordable.
Yes, where you get your E&O policy is important. For one thing, you want to keep your insurance costs as low as possible while maintaining adequate coverage. At biBERK, we don’t use middlemen or brokers. Consequently, we’re able to provide insurance directly to you for up to 20% less than other insurance companies.
The company behind your small business insurance matters, too. biBERK is part of Warren Buffett's Berkshire Hathaway Insurance Group with millions of satisfied customers, more than 75 years of insurance experience, and $38 billion in paid claims in 2020. So, we’re a company with the expertise and financial resources that businesses can trust and rely on.
Our licensed insurance experts are always happy to assist you. However, below are answers to errors and omissions insurance frequently asked questions for your convenience.
Those are actually just different names for the same type of insurance.
A retroactive date is a date agreed on by you and your current insurance company. Any work done by you before the retroactive date will not be covered under your current policy or this policy. If you have an existing policy, you can find the retroactive date in your current policy documents.
If your business provides professional advice or services, or if required as a condition of employment or in the terms of a contract, you should have errors and omissions insurance. In some cases, coverage may be required by law.