What is professional liability insurance?
Unlike general liability insurance, which covers bodily injury and property damage claims, professional liability insurance (also known as errors and omissions insurance) covers claims made against your business, as a result of the services you provide. Examples of these claims could be for negligence, misrepresentation, or even inaccurate advice.
In some states, and in some professions, professional liability insurance may be required. But even if it's not required, it's a coverage you should consider if you offer any advice, design, or professional services.
Even if you do nothing wrong, your client could still sue you if they believe they have been wronged in some way. The cost of legal fees and your precious time to defend yourself could be devastating without the right coverage in place.
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