Reasons to Carry Errors and Omissions Insurance

Reasons to Carry Errors and Omissions Insurance

A good EO insurance in New York is critical to the stability of your business. General liability policies do not protect adequately against claims made that fall under the classification of personal services.

No One Is Perfect

Mistakes can happen that leave you vulnerable to lawsuits. Even with the best of intentions, it is still possible to be held liable for wrong doing. In an industry that requires numerous documents and procedures to be followed, one mistake on a critical form can end up causing damages that you may have to pay for.

Freedom to Make Choices

You don’t always have the time to give every decision the careful consideration it deserves. Some important choices must be made under extreme pressure and at a moment’s notice. When you make a choice that causes some kind of harm to your clients, you are still going to be held liable regardless of the circumstances. When you are supported by a robust insurance policy, you know that you are protected against honest mistakes made in the midst of a crisis.

Keep Operating

A lawsuit can be filed against your company at any time. Even if you are not at fault, you will still have to devote resources to defending against the claim. The legal process can be time consuming and stressful. Errors and omissions insurance provides coverage for your legal expenses. This often includes financial relief throughout the entire discovery and litigation process and allows you to keep your focus on your business where it belongs.

Find out more about eo insurance in New York. Contact an agent, and let an expert that is knowledgeable about your industry and region help you to design a plan for your company.