Errors & Omissions (E&O) Insurance:
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What is E&O insurance?

Errors and omissions (E&O) insurance covers your business if it’s ever sued because you or someone who works for you provides inadequate or incomplete information to a customer or client and they are harmed because if it. It also protects you against advertising and marketing related errors.

Professional liability insurance vs. malpractice vs. errors & omissions (E&O)

Professional liability insurance covers you if you’re sued because of bad professional advice or make mistakes while providing work related services.

Malpractice insurance is a form of professional liability insurance purchased by doctors, other healthcare, and legal professionals.

Errors and omissions, or E&O insurance, is another name for professional liability insurance  purchased by agents, engineers, consultants, and other professionals in finance, real estate, insurance, and IT industries. It covers your business if your business is sued because it provided incomplete on inaccurate information to a customer or client and they sue you. It also covers advertising related errors.

What does E&O insurance cover?

E&O insurance provides coverage for you and your business if a customer or client sues it because they’ve been harmed by the advice or information you or someone who works for you provides them.

See more at E&O Insurance: What It Covers & Who Needs It

Who needs E&O insurance?

Any business that provides information to customers or clients, whether in-person or virtually, could benefit from having errors and omissions (E&O) coverage. This could include the following professionals:

How much does E&O insurance cost?

Errors and omissions insurance is relatively inexpensive when compared to the coverage it provides. The price varies depending on your business industry, size of organization, employee experience, years in operation, and more.

On average, E&O insurance costs $720 – $3,000 a year or $60 – $250 a month. It varies by professions and a few other factors related to the E&O policy such as the maximum coverage amount, which is usually $1,000,000 and the deductibles. The higher the deductibles are, the cheaper the premiums of the policy are.

See more at E&O insurance costs for different professionals

Cheap E&O insurance

This is coverage you definitely don’t want to skip on. Most employers such as insurance brokerage firms, real estate brokers, or accounting firms, usually require you to have this coverage before your first day at work.  Compare quotes from several providers to find the E&O coverage you need at a price you can afford.

No down payment E&O insurance

E&O insurance offers a monthly payment option known as no down payment E&O insurance. Your insurer can help you understand if this is a good way for you to pay for coverage.

Learn more about how to find no downpayment E&O insurance.

Why buy E&O insurance from BravoPolicy?

Great question! Here are three good reasons:

  1. You’ll probably pay less for your E&O insurance with BravoPolicy. Our customers save 20% on average. 
  2. We can get your small business covered in about 10-15 minutes. 
  3. You can manage all of your business insurance needs through our online portal. No paperwork needed. No need to wait on the phone for hours to speak to customer service.  

E&O insurance FAQs

Does errors and ommissions insurance cover my business if I or someone who works for me causes harm to a customer or client?

Yes. As long as the E&O insurance policy you have cover you and each of your employee. 

When you buy E&O coverage for your business, make sure you list each of your employees who provide advice directly to your clients in the policy. Otherwise, their mistake will not be covered by the policy.  

How much E&O coverage do I need?

It all depends on the industry you work in and how much you and the people who work with you communicate with customers.

The standard E&O policy is for $1M/$1M, ie. max $1M coverage for one incident and $1M coverage for a year. 

Does E&O insurance cover written communications?

It can cover written communications including things said on your website, in presentations, and on marketing pieces.

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