If You Provide a Service for a Fee, Read This
If, as a business owner, you’re uncertain whether or not you need errors and omission insurance(also known as E&O, professional liability or malpractice) , consider the following:
- As a professional printer in Houston, Texas, what if after printing and mailing 300 wedding invitations, you discover the father’s name instead of the stepfather’s name is printed as the announcing party?
- You own a computer technician business in Harris County. You’re diligently working to get a computer back on line. While doing so, you accidentally lose valuable client computer data.
- Your business provides security for other businesses in the state of Texas. You’ve installed a surveillance camera that inadvertently goes dark. A burglary is committed within the camera’s coverage area but no one sees.
Houston Texas Errors and Omissions Insurance
If you provide clients a service for a fee, then incidents like these are your responsibility... which means you need E & O coverage. This usually covers the business owner, employees and subcontractors working at your direction.
It’s a specialized coverage. It covers you against losses that are not covered by traditional liability insurance, such as claims, lawsuits for negligent acts and errors or omissions that take place while doing business (resulting in financial or other client losses).
Judgments, attorney fees, court costs and settlements are usually covered. Legal expenses are especially important. This is because even if you’re vindicated in a lawsuit, court related expenses can quickly chew up cash reserves.
Specialized Coverage Needs a Special Agent
An electrician has different E & O exposures than an attorney. So, this insurance is highly customized by business type. That’s why you want to obtain a quote from Texas-based business insurance professionals, Texan Insurance. Texan Insurance has been guiding and insuring Texas and Louisiana-based businesses since 2012!
E & O coverage is available for businesses from auctioneers to horticultural consultants to security firms. Obtain a quote for your business now.