E&O insurance for insurance agents

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Take your own advice: get covered

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. And all it takes is missing a renewal, or arranging the wrong policy.

So, why not take your own advice?

Protect your own business with errors and omissions insurance. Then, if a client claims you’ve made a mistake and it’s cost them, E&O insurance can cover your legal costs and damages, if you’re liable.

What’s more, it protects your reputation. Because why would you risk that?

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

    Our errors and omissions polices start at $270. But, typically, for a $1m coverage limit you’re looking at an annual premium starting at $400.

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

  • What does E&O for insurance agents cover?

    Also known as professional liability insurance, E&O can get you an attorney and cover 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
  • What other kinds of insurance do insurance agents need?

    General liability insurance protects you from claims of physical damage to property or people. It’s good to have if clients visit you in your office, or you go visit them. And as an insurance agent, you probably do both.

    You might want to think about insuring the stuff you take with you to client meetings, too. Like laptops and mobile devices. If those get damaged, it’s not just the money it costs to fix or replace them, it’s the time it takes. And that could cost you business.

    Business personal property insurance (BPP) protects this kind of equipment. Not just when you’re out seeing clients, either. Coverage includes the moveable items – chairs, desks, even your potted plants – in your office. Whether that’s at home or elsewhere.

    If you store your clients’ data electronically, use email and have a website, a cyber policy’s seriously worth getting. More and more cyber-attacks are on small businesses and the recovery costs are shutting down three quarters of them within six months.

    Cyber insurance can’t stop an attack. But it can take care of these costs for you. Leaving you doing business as usual.

    The second you hire your first employee, most states require you to have workers’ comp insurance. If you don’t, you’ll have to pay penalties. But it’s worth getting anyway. It protects your business from the cost of workplace injuries to staff, which can be crippling.

    Because small business insurance is our business, we know every insurance agent’s insurance needs are unique. We can build a package to suit you. Even better, it’ll only take a couple of minutes of your time, online.

  • How can I increase my insurance sales?

    A direct appointment is the easiest way to build your business. Problem is, top-rated insurance carriers usually want to tie you into long-term contracts and production quotas.

    InsuranceBee has the solution.

    Sign up now to our wholesaler program and you’ll get instant access to A-rated insurance company Hiscox NOW. It means you can quote and bind business insurance for 180+ professions online, in minutes. So you’ll cover gaps in your business, speed up sales and offer an even better service to your customers.

    It’s simple to sign up and it costs you nothing. What’s more, you don’t need an appointment with Hiscox – we pay your commission.

    But that’s not all.

    There’s no post-bind effort – Hiscox handles all servicing and billing for you. And their automatic renewal process means you earn commission for the policy’s lifetime.

    Sign up now to:

    • Quote and bind admitted GL, PL and BOP online
    • Get instant coverage for 180+ professions, including start-ups
    • Send policy documents to your customers the same day
    • Earn commission for the lifetime of coverage
    • Offer competitive premiums – E&O starts at $270
    • Offer no fee, monthly payment plans

    Sign up now

    You can find out more about our wholesaler program here. Or call us. We’ll be happy to talk it through.

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