Insurance for insurance agents

E&O for insurance agents

It’s a risky world out there. That’s good news for you. It means more clients come to you for protection. Keeping you busy and your business booming.

The bad news is, it also means more risk for you. Each account you add, increases the odds of a claim being made against you.

No-one knows the power of a policy better than you. So get your own risk managed. Give your business the same protection you offer your clients with insurance for insurance agents.

• Why do insurance agents need E&O insurance?

  Clients pay you for your advice and service. That makes you a professional. And as a professional you can be sued for negligence, even if you did nothing wrong.

  You know this. You tell your clients all the time.

  So why not take your own advice? Protect your business with errors and omissions insurance for insurance agents.

  Then if a client claims you made a mistake, E&O insurance can cover your legal costs and damages, too, if you’re liable. Even if a claim is groundless.

  Errors and omissions insurance for insurance agents protects your work, your bank balance and your reputation. Because why would you risk that?

• What does E&O insurance for insurance agents cover?

  Also known as professional liability for insurance agents, E&O can pay your legal costs and damages for:

  • Claims you’ve made a mistake or left something out– even if you haven’t
  • Claims you’ve made an error in work you’ve done in the past
  • Worldwide claims – as long as they’ve been filed in the United States, a U.S. territory, or Canada

• How much does E&O insurance cost for insurance agents?

  Insurance costs vary from business to business. The price you pay will depend on things like your business’s size, its location, and the limits and deductibles you select.

  You don’t have to pay all at once, though. You can spread the cost over monthly installments. Just choose the payment option that works best for you.

• Why do insurance agents need general liability insurance?

  You know accidents happen. People do or say bad things. And sometimes, it’s not you; it’s them.

  And when clients visit with you, or you visit at their offices, the risk of slip and fall claims increases big-time.

  If you damage someone’s property, or someone gets hurt and sues you, general liability for insurance agents takes care of medical expenses, your legal defense and compensation. Even if a claim is groundless.

• What does general liability insurance for insurance agents cover?

  So long as the claim’s filed in the United States, its territories, or Canada, general liability insurance covers claims for:

  • Third party bodily injury – a slip, trip, or fall can cost thousands in medical bills, even for injuries that seem to be minor.
  • Third party property damage – repairs, replacement, the costs can be huge. Your policy covers damage caused by you, and your full-time, or temporary, staff. And not just for damage to physical property, either. It covers electronic data, too.
  • Personal injury – He said. She said. Whether anyone said anything at all, claims of slander or libel can seriously damage your reputation. And the defense costs can seriously dent your bank balance.
  • Advertising injury – whether it was your idea, or theirs, arguing it out in court will be expensive.

  When a claim’s filed against your business, there are often hidden costs involved. Your general liability policy takes care of these, too. Including up to $250 a day for loss of earnings.

  Claims take their toll. On your time, as well as your money. Having the right insurance means your firm’s finances are protected. So you can get on with running it.

• How much does general liability insurance cost for insurance agents?

  The cost of your coverage will be affected by things like your business’s size, its location, and the limits and deductibles you select.

  Whatever the cost, there’s a package to suit your particular business needs. And payment options, too, so you can spread the cost to fit your budget.

  But as for what level of cover you want, you'll need to decide what's best for you.

  It's always best to over-estimate. Lawyers' fees, compensation and court costs can go through the roof. So, imagine the worst-case scenario. Then pick a figure you can realistically afford.

What other kinds of insurance do insurance agents need?