As a professional, you need to make sure that every aspect of your business is protected. Although you may already have a regular business insurance policy, you can’t afford to operate your business without the right type of liability coverage. If you are not sure what kind of liability insurance is right for you, just ask yourself what is professional liability insurance.
Must Be Added Into Policy
First and foremost, you need to be aware that professional liability is not something that is initially covered under a regular insurance policy. Professional liability is what helps to protect your organization against any claims that are leveraged against it from your clients. It doesn’t matter if your clients claim that your company neglected them in any kind of way or that your company failed to provide some type of service. All it takes is one little accusation or mistake, and your organization is stuck dealing with the expensive aftermath.
Protection Against Mistakes and Errors
In this day and age, no business can afford to lack any type of coverage, especially liability. When it comes to choosing a good liability policy, make sure that it includes a sufficient amount of coverage for errors and omissions. Although you may plan and operate every aspect of your organization down to the letter, it doesn’t hurt to protect your organization against any unexpected events or mistakes.
The next time you find yourself asking what is professional liability insurance, just remind yourself that it’s what keeps your business covered against errors and omissions.