4 Best E&O Insurance Providers for Insurance Agents in Florida

Thang Truong
Thang Truong
Updated on:

Insurance agents in Florida play a critical role in helping individuals and businesses manage risk and protect their assets. However, they are not immune to making mistakes, which can lead to costly lawsuits and damages. Errors and omissions (E&O) insurance, also known as professional liability insurance, can protect insurance agents from these risks. In this article, we’ll cover everything you need to know about E&O insurance for insurance agents in Florida, including requirements, coverage, cost, and providers.

4 best E&O insurance providers for insurance agents in Florida 

When choosing an E&O insurance provider, it’s important to consider factors such as coverage options, pricing, customer service, and claims handling. Insurance agents should also ensure that the provider is licensed in Florida and has a strong financial rating. 

Below are the 4 top E&O insurance providers for insurance agents in Florida that we recommend: 

  • Simply Business: Best for comparing several quotes to find the cheapest one 
  • The Hartford: Best E&O insurance for insurance agents from a top provider 
  • Hiscox: Best E&O insurance provider for small businesses 
  • Tivly: Best small business insurance broker if you prefer working with a knowledgeable agent 

Simply Business: Best for comparing several quotes to find the cheapest one 

Simply Business is a small insurance brokerage. They work with several top-tier providers and are able to pull quotes from these providers for you to compare and select the best one for your. If you prefer comparing several quotes in one place, Simply Business is the best option for you. 


  • Simply Business is a well-known brokerage firm with expertise in small business insurance 
  • Simply Business provides a wide range of small business insurance coverage, so if you want to buy other insurance coverage for your small company at an affordable rate, you can buy everything with them. 
  • Simply Business works with several top-tier providers and provides an easy application for you to compare several quotes 
  • They earn a good consumer satisfaction rating and known for their friendly services to customers 


  • If you prefer a particular carrier that they don’t work with, you have to look elsewhere 
  • Some carriers they work with may not be very well-known, but they are all carriers with excellent financial strength ratings 
  • You may have to file a claim directly with the carrier. Simply Business may not handle claims 

The Hartford: Best E&O insurance for insurance agents from a top provider 

The Hartford is a very well-known provider of small business insurance. In fact, they are the number 1 insurance provider for small businesses. They have been around for more than 200 years and have insured more than 1 million small businesses in the US. They are also known for their highest ethical standards. 


  • One of the biggest insurance carriers for small businesses with a wealth of experience 
  • Policies with comprehensive coverage 
  • Provide a wide range of insurance policies that small businesses may need
  • A carrier with  one of the highest reputations, ethics, and customer satisfaction 


  • Limited digital capabilities: online quotes and online policy management are not available 
  • You have to work with an agent from getting a quote, buying a policy, and managing your policy 
  • Prices can be a bit higher than other digital options, but may be worth it if you prefer comprehensive coverage 

Hiscox: Best E&O insurance provider for small businesses 

Hiscox is one of the leading carriers specializing in providing insurance for small businesses. They are the pioneer in selling insurance digitally and directly to small businesses. They provide insurance coverage for a wide range of industries from bakery and financial advisors, to tax preparation and real estate businesses. 


  • Leading carrier specializing in small businesses 
  • Provide professional liability insurance and general liability insurance to businesses in a wide range of industries 
  • Excellent digital capabilities 


  • Limited coverage is available: only professional liability and general liability insurance are available. If you need other coverages such as workers comp insurance and commercial auto insurance, you need to look elsewhere 
  • Coverage limits may be lower than other options

Tivly: Best small business insurance broker if you prefer working with a knowledgeable agent 

Tivly is another insurance brokerage firm focused on serving small businesses. Tivly is unique in their operating philosophy. They believe that small businesses should work with independent knowledgeable agents to find the right coverage for their businesses. 


  • They work with a network of independent agents who are knowledgeable and experienced in small business insurance 
  • Partner with hundreds of business insurance carriers 
  • Easy to get and compare several quotes through independent agents 
  • Provide a wide range of coverage that small businesses may need 


  • Limited digital capabilities
  • If you prefer getting quotes and buying a policy online, you have to look elsewhere 
  • You have to work with agents 

Requirements of E&O insurance for insurance agents in Florida

Florida is one of several states that requires insurance agents to carry E&O insurance as a condition of licensure. Specifically, Florida Statutes section 626.015(9) requires all licensed insurance agents to maintain a policy of E&O insurance with a minimum limit of $50,000 per claim and $150,000 aggregate per year. Agents who do not comply with this requirement may be subject to disciplinary action, including fines, license revocation, or suspension.

Additionally, insurance agents must comply with the licensing requirements established by the Florida Department of Financial Services. These requirements include pre-licensing education, passing a licensing exam, and completing continuing education courses. Failure to comply with these requirements can also result in disciplinary action.

Coverage provided by E&O insurance for insurance agents in Florida

E&O insurance provides coverage for claims that arise from professional errors or omissions. For insurance agents, these claims may include:

  • Failure to recommend adequate coverage to clients
  • Misrepresentation of policy terms and conditions
  • Failure to properly document client information
  • Failure to disclose policy exclusions or limitations
  • Giving incorrect advice or information about insurance products

E&O insurance policies typically cover the costs of legal defense, settlements, and judgments arising from covered claims. However, there may be limits to the coverage, such as a cap on the amount of damages that can be awarded or exclusions for certain types of claims.

It’s important for insurance agents to carefully review their policy and understand the coverage and limitations of their E&O insurance.

Cost of E&O insurance for insurance agents in Florida

On average, E&O insurance for insurance agents in Florida can cost between $83 to $122 per month, or $1,000 to $2,500 per year, although costs can be higher for larger agencies or those with higher risk exposure.

Here is just the average cost. Your rates will be different. Be sure to shop around with a few companies or work with a top brokerage firm like Simply Business to compare several quotes to find the cheapest one.

What factors affect the E&O insurance cost for insurance agents in Florida? 

The cost of E&O insurance for insurance agents in Florida can vary widely depending on several factors, including:

Type of insurance products sold

The type of insurance products sold by an agent can have a significant impact on the cost of E&O insurance. For example, agents who sell high-risk insurance products, such as medical malpractice or cyber liability, may pay higher premiums than agents who sell lower-risk products, such as automobile insurance. This is because the likelihood of a claim or lawsuit is higher for high-risk products.

Size of the agency

The size of an agency can also impact the cost of E&O insurance. Larger agencies may have more employees and generate more revenue, which can increase their exposure to risk. As a result, larger agencies may pay higher premiums than smaller agencies. However, larger agencies may also be able to negotiate lower rates based on their size and purchasing power.

Level of risk exposure

The level of risk exposure for an insurance agent can also affect the cost of E&O insurance. Agents who work in high-risk industries, such as healthcare or financial services, may face a higher likelihood of claims or lawsuits, which can result in higher premiums. Additionally, agents who work in areas with high claims frequency or severity may also pay more for E&O insurance.

Claims history

The claims history of an insurance agent can also impact the cost of E&O insurance. Agents who have a history of claims or lawsuits may be considered a higher risk by insurance providers, which can result in higher premiums. On the other hand, agents with a clean claims history may be eligible for lower rates or discounts.

Coverage limits

The coverage limits chosen by an insurance agent can also affect the cost of E&O insurance. Higher coverage limits generally mean higher premiums, as the insurance provider is assuming a greater risk. However, agents should carefully consider the amount of coverage they need to protect against potential claims or lawsuits.


The deductible chosen by an insurance agent can also affect the cost of E&O insurance. A higher deductible generally means a lower premium, as the agent is assuming a greater share of the risk. However, agents should consider their ability to pay the deductible in the event of a claim or lawsuit.

How to find cheap E&O insurance for insurance agents in Florida? 

Insurance agents can take steps to reduce the cost of their E&O insurance, such as maintaining a good claims history, implementing risk management practices, and choosing a higher deductible. It’s important to work with an experienced insurance agent to find the right balance between coverage and cost.


E&O insurance is a critical component of risk management for insurance agents in Florida. It provides protection against costly lawsuits and damages that can arise from professional errors or omissions. Insurance agents must comply with Florida’s licensing and E&O insurance requirements,

Thang Truong

Thang Truong covers small business insurance and small business success at BravoPolicy. He is a licensed P&C insurance agent. Previously, he held product leadership positions at realtor.com, Capital One, NerdWallet, and Mulberry Technology. He holds a MBA degree from UC Berkeley - Haas School of Business.

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