Errors and Omissions Insurance (E&O) in Haines City, FL
Although you may strive for consistency and accuracy, there may eventually be instances of your company and its employees making mistakes or not meeting expectations. In these situations, you could face accusations and lawsuits that may incur severe financial and reputational consequences. With this in mind, having adequate errors & omissions insurance is essential.
What Is Errors and Omissions Insurance? 
Also known as professional liability insurance, errors and omissions (E&O) insurance can provide critical financial protection for your business. These policies establish contractual agreements between your business and its insurance company. As long as you maintain coverage by paying your premiums, you can file a claim for financial assistance in response to many common allegations, such as the following:
- Professional errors
- Incorrect advice
- Misrepresentations
- Oversights
- Negligence
- Omissions
- Missed deadlines
- Breaches of contract
Who Should Have Errors and Omissions Insurance?
Any business providing professional services or guidance, such as consultants, contractors and financial agents, should consider E&O insurance a critical component of adequate loss control measures. Even a momentary lapse in attention or slight miscalculation could have dire consequences for an uninsured business’s financial stability and prospects.
What Is Excluded Under E&O Insurance?
The exact capabilities, limitations and other details of an E&O policy can vary significantly and coverage is often customizable. However, certain situations are generally excluded from this type of insurance, such as intentional, illegal or criminal acts.
Get the Right Coverage
With over 22 years of experience serving businesses, families and individuals, the dedicated team at 1st Class Insurance Services, LLC dba Cathy Boyd’s Insurance Agency is well-equipped with the knowledge and expertise to help provide e&o insurance in Florida. Contact us today to learn more.