Personal Liability Insurance
Professional liability insurance is a type of commercial insurance that provides coverage for professionals and businesses to protect against damages caused by the negligence of clients or customers.
Professional liability insurance typically covers negligence, copyright infringement, personal injury and more. Claims covered by a professional liability policy may include damages for things you have done and/or things you should have done.
How does professional liability insurance work?
While many types of businesses can be helped by professional indemnity insurance, let's look at some real-world examples. Let's say you are a project manager. Accidentally forgetting to tell your client about required signatures causes project delays that increase costs.
Or maybe you're a massage therapist and your client is suing you, claiming you caused tissue damage. These are just a few of the situations in which professional liability insurance can help you. Many people often associate it with full coverage general liability insurance.
You should consider professional indemnity insurance if your business provides:
professional service
Regular professional advice to clients
Contract service for your customers
How much does professional liability insurance cost?
Every company's needs are different. Many things affect the amount of your premium. We are ready to work with you to get the coverage you need at a great price. Find out how much you can save on professional liability insurance with GEICO today.
Why do I need Professional Liability Insurance (PLI)?
Some jobs and contracts require PLI. In addition, mistakes happen. Make sure you and your business are protected with the right professional liability cover.
What does a professional liability insurance policy cover?
Common items covered by professional indemnity insurance are:
- Errors or omissions
- Services provided (or not provided) by your company that result in damages to the customer.
- copyright infringement
- Copyright law issues, errors, censorship and misunderstandings.
- personal injury
- Ejaculation or defamation claims, whether true or not.
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What else does professional liability insurance cover?
- Previously performed services
- This is protection for current and previously completed work (for an agreed time frame).
- This time frame is important to consider as things outside of this time frame will not be covered.
- defense costs
- Legal defense costs related to claims against your company (regardless of fault).
- temporary employees and
- independent contractors
- Work performed by your employees, including temporary employees and independent contractors.
What type of business can be covered by professional liability (or E&O) insurance?
Whether you have a small business, a growing company, a large corporation or are starting a new business, we can help you save on your professional liability insurance. Business examples include:
- Beauty services / salon
- Profession/Business Coaches and Trainers
- Family/Mental Health Counselors
- Management / Business consulting
- Occupational therapy
- personal trainers
- photographers
- Real Estate/Real Estate Managers
- IT consultants
- And more...