If you own a small business where your primary revenue is generated by offering a service, displeased clients can cause irreparable harm. Luckily, you can protect your livelihood with professional liability insurance. In short, professional liability insurance – or Errors and Omissions (E & O) – protects your business from the costs tied to a lawsuit by a client alleging shoddy work.

Benefits of Professional Liability Insurance 

If your client or customer believes that your negligence directly led to financial harm, they can take legal action against you and your business to recover from their losses. Consequently, professional liability insurance covers the following types of work-related issues:

• Missed deadlines
• Undelivered services
• Budget overages
• Work errors
• Breach of contract
• Negligence

Depending on the type of business you own – such as lawyers, doctors, or other medical professionals – you may be required to have professional liability coverage. At Max Insurance LLC in Des Moines, IA, we can help you understand your options and answer regulatory requirement questions.

Your commercial insurance policy likely includes general liability insurance, which may leave you wondering when additional professional liability coverage is needed. The short answer is that your general liability insurance policy covers you and your business from third-party claims such as bodily injury, property damage, and product liability. In addition to professional liability insurance, small businesses in Des Moines, IA and throughout the state are legally required to have commercial auto insurance on all business-owned vehicles and workers’ compensation injury if they employ one or more individuals. 

Contact Us Today

To learn more about commercial insurance and how it can help safeguard your business, give the professionals at Max Insurance LLC a call to schedule a no obligations consultation with a friendly and knowledgeable member of our team.