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Protect Your Business With E and O Insurance in Tennessee
Errors and Omissions insurance is also known as professional liability insurance or E&O coverage. Your errors and omissions insurance policy can help cover claims of:
- Negligence
- Errors in your services
- Omissions
- Violation of good faith and fair dealing
- Misrepresentation
- Inaccurate advice
This coverage is important for any business that’s offering professional services, like:
- Accountants
- Interior designers
- Real estate professionals
To learn more about what’s required for errors and omissions insurance in TN, get a quote from us today.
Who Needs E&O Insurance in TN?
If your TN business provides professional advice or services to clients, you’ll want errors and omissions insurance. For instance, some industries that can benefit from this coverage include:
- Advertising agencies
- Real estate agents and brokers
- Lawyers and law firms
- Accountants, bookkeepers and tax preparers
- Interior designers
- IT professionals
- Market research firms
- Consultants
- Graphic designers
It’s also important to note that clients working with these professionals typically want to be sure you offer insured services. They’ll want to see that you have the right error and omissions coverage before they’ll work with you.
What Does Errors and Omissions Cover in TN?
E&O insurance coverage helps pay your legal defense costs if you’re sued for mistakes in your professional services. If you’re wondering how this coverage can protect businesses, check out these example scenarios:
- Your real estate agent fails to provide accurate information on a home listing to potential buyers. After one of your clients buys the home, they file a lawsuit against your company.
- An attorney at your law firm gives legal advice that costs your client thousands of dollars. As a result, they file a lawsuit against your firm for negligence in your professional services.
- A graphic designer at your company has a miscommunication with a client about the color scheme they wanted. As a result, the client files a claim against your business.
Without professional liability insurance, you’ll have to pay out of pocket for errors or omissions claims filed against your company. In some cases, this can have devastating financial impacts. To learn more about E&O coverage, get a quote from us today.
How Much Does Errors and Omissions Insurance Cost in Tennessee?
Professional liability insurance costs vary depending on your type of business. Some factors that influence how much you’ll pay for coverage include your:
- Location
- Coverage limits
- Deductible amount
- Years in business
- Claims history
- Number of employees
How Much E&O Insurance Do I Need?
You’ve worked hard building your business. That’s why you want to get the right amount of E&O coverage to make sure you’re protected if you or your employees make an error on the job. Certain factors impact the amount of coverage you’ll need, like your:
- State laws
- Business’ size
- Industry
Get a Quote for Professional Liability Insurance in Tennessee
To find the right Tennessee (TN) business insurance for you, it’s a good idea to compare quotes from different small business insurance companies. To get started, you can get a quote from us today.
We’re an insurance company you can trust. In fact, we’ve been helping small business owners get the coverage they need for over 200 years. We can help you learn about your specific industry’s needs. For instance, if you’re looking for real estate E&O insurance, we can help. And in addition to professional liability insurance, we can also help your learn more about other coverages you may need, like general liability coverage or Tennessee workers’ compensation insurance.
Last Updated: September 17, 2024
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