E&O Liability Insurance
Errors and omissions insurance, sometimes referred to as E&O or professional liability insurance is insurance that protects you against financial harm resulting from mistakes or oversights you’ve made in a professional capacity. No matter how much training you’ve had or how professional you are, you’re only human. Mistakes happen. Unfortunately, those mistakes can cost you or your business big if you do not have the protection provided by an errors and omissions policy.
Otterstedt Insurance Agency has been serving the New Jersey business community since 1919. We’ve witnessed quite a few changes during that time. Today, business professionals face more scrutiny and a greater potential for litigation than in days past. This means that you need the protection an E&O policy offers now more than ever before.
Who Needs E&O Insurance Coverage?
Many people have made the mistake, over the years, of believing they do not need the coverage an E&O policy provides. Some people think this is a type of coverage that is limited to doctors, lawyers, and accountants. While each of these needs an appropriate errors and omissions policy for their fields, they are far from the only professionals that require this type of insurance coverage. All of these fields, and many more, need this unique form of liability coverage.
- Engineering consultants
- Hair stylists
- General contractors
- Ad Agencies
- Veterinarians
- Software designers
- Photographers
- Website designers
- Funeral directors
- Commercial printers
- Web hosting companies
- Caterers
- Event planners
- Wedding planners
Essentially all professionals who offer professional services or advice in the course of their work need this type of insurance protection.
Benefits of E&O Policies
Many people believe they have all their professional needs covered with a commercial general liability insurance policy. Nothing could be further from the truth. While they are important types of coverage, general liability policies are quite limited in what they provide coverage for and professional liability issues are excluded from coverage under those policies.
Errors and omissions coverage extends to legal expenses, up to the stated limit of the policy, as well as damage awards and settlements. Again, up to the limits of the policy. Some policies offer riders for prior acts coverage as well as extended reporting period coverage, but those are add-ons and not available with all E&O insurance coverage.
Otterstedt Insurance Agency can explain the different types of coverage available and help you choose the policy that will best meet your needs. It’s a comforting feeling to have your needs explained and questions answered, which is why we always try to do these things for you. It is part of the personal service we provide.
Getting Your Errors and Omissions Insurance Needs through Otterstedt Insurance Agency
At Otterstedt Insurance Agency, we believe that offering you superior service and superior insurance products is the reason we’ve managed to serve the insurance needs of New Jersey businesses since 1919. These are the things that set us apart from so many other agencies that have come and gone along the way.
We offer personal service at all turns whether you’re just getting started, filing claims, or exploring your business insurance options. We understand the challenges you face as a business – even a few that are fairly unique to New Jersey businesses, and will do our best to help you prepare for them with adequate insurance coverage, reduce your risks with appropriate changes in policy, and help you file your claims when disaster strikes.
