Errors and Omissions Insurance in Florida
Professional liability insurance in Florida helps protect businesses from certain customer lawsuits. This coverage is also known as errors and omissions insurance. Small business owners aim to run their businesses perfectly, but mistakes can happen. If they do and it causes someone financial harm, they can sue your business.
What Is Covered By Professional Liability Insurance in Florida?
Professional liability insurance can help cover claims that your business failed to provide a service or didn’t protect personally identifiable information. It can also help your business if someone sues you for:
This type of small business insurance can help pay for your legal defense costs, as well as settlements and judgments.
Errors and omissions insurance in Florida can help many businesses, like:
A graphic design firm in Miami after a client sues them, claiming the logo they created led to a drop in sales.
An accounting agency in Orlando that incorrectly files a client’s tax returns. They sue the agency after they have to pay a penalty.
A Jacksonville advertising firm that forgets to do a service for a client, resulting in a lawsuit.
How Much Does Professional Liability Insurance in Florida Cost?
Professional liability insurance in Florida costs vary. That’s because every small business is different and has unique needs. Generally, you can expect to pay several hundreds of dollars for a policy premium.
Insurance companies use different factors to determine policy costs. Some factors that can affect how much errors and omissions insurance in Florida will cost your business include:
Your policy details, like whether you have an earlier retroactive date
The coverage limits you choose
How many years of experience you have
The best way to find out how much it’ll cost your business to get professional liability insurance in Florida is to get a quote
Are Businesses Required To Have Errors and Omissions Insurance in Florida?
Certain types of businesses in Florida need to have professional liability insurance coverage. For example, Florida requires real estate professionals
to have this insurance coverage.
Even if your specific business doesn’t need to have professional liability insurance in Florida, it can still be beneficial – especially if you provide a professional service. Without it, you may have to pay for claims out of pocket. This can be financially devastating for business owners.
Who Needs Professional Liability Insurance in Florida?
Any business that provide a professional service to customers should consider professional liability insurance. Some types of businesses that typically need professional liability insurance in Florida include:
Get a Quote for Errors and Omissions Insurance in Florida Today
We’re an insurance company backed by over 200 years of experience. We know every business is unique and has different needs. Our specialists can help you get the right type of business insurance coverages, no matter where you are in the state. This includes: