Professional Liability Insurance In Westerville, OH
As a professional or business owner, you and your company must conduct due diligence to fully understand the unique risks you may face in your daily operations. Even with the highest standards of care, mistakes or misunderstandings can happen, which may lead to costly claims of negligence or errors. Professional liability insurance should be a top priority to curb potential losses arising from such situations.
What Is Professional Liability Insurance?
Professional liability insurance, often called errors and omissions (E&O) insurance, is designed to financially protect professionals and businesses from claims that mistakes or shortcomings in their services caused other parties’ financial losses. Unlike general liability insurance, which can cover third-party bodily injury or property damage, these policies focus on managing losses and damages resulting from your professional advice or services.
Who Needs Professional Liability Coverage?
Many professionals and commercial entities in Westerville, OH can benefit from this type of insurance, including, but not limited to:
- Consultants and advisors
- Accountants and financial planners
- Real estate agents and brokers
- Architects and engineers
- Health care companies and providers
- IT professionals
- Marketing firms
In general, if your business provides advice or services, professional liability insurance may be essential to financially protect against unexpected claims. Depending on your industry or client base, policies may be formally required.
What Does Professional Liability Insurance Cover?
In response to various accusations, including professional errors, misrepresentations, omissions, oversights, negligence and missed deadlines, a professional liability policy can help pay for the following:
- Attorney fees
- Court costs
- Expert witness fees
- Settlements
- Judgments
Coverage details can vary, so our team works closely with you to tailor a policy that fits your specific profession and risk profile.
We’re Here to Help
The team at Outcalt Kerns Insurance, LLC is well-versed in professional liability insurance and can help businesses in and around Westerville, OH understand and address their coverage needs. Contact us today to learn more or get a personalized quote.