Some of the most important insurance coverage for small business owners is a kind of policy many small business owners don’t know anything about.
It’s errors and omissions insurance. At QuoteBroker Insurance Services, serving Santa Clarita, CA, we ensure all our business clients know about it.
What Is Errors & Omissions Insurance?
Errors and omissions insurance protects your business from claims for negligence, mistakes, or inadequate work. It also covers when you are accused of inaccurate advice, dishonest advertising, or failure to act in good faith.
If you are a small business owner in California, you know you can be sued anytime for almost any reason. You don’t have to have made an error or an omission to be sued for errors and omissions!
Even if you win your case, you have to pay your legal fees. Errors and omissions insurance covers your legal fees and allows you to avoid making a settlement just because you don’t have the cash to pay your lawyer.
What Kinds of Small Businesses Need Errors & Omissions Insurance?
QuoteBroker Insurance Services often writes errors and omissions policies for:
- Certified public accountants.
- Realtors.
- Bookkeepers and tax preparers.
- Graphic artists.
- Website designers.
- Interior decorators.
- Photographers.
- Marketing consultants.
Insurance agents also carry errors and omissions insurance. How much coverage you need depends on the price of the services you provide.
The State of California Does Not Require Errors & Omissions Insurance, But Your Customers Might
There is no state or federal requirement for small businesses to carry errors and omissions insurance. But your clients may want you to carry it.
Errors and omissions policies usually have a retroactive date. They cover you 30 or 60 days before you buy the policy. So, if you need coverage, come into QuoteBroker Insurance Services to get your policy today! We are convenient to everyone in the Santa Clarita, CA, area.
