Frequently Asked Questions
What is professional liability insurance?
Professional liability insurance (also called errors & omissions or E&O insurance) protects professionals against claims arising from errors, omissions, negligence, or failure to perform professional services. It covers legal defense costs, settlements, and judgments up to your policy limits.
Who needs professional liability insurance?
Any professional who provides services to clients should carry professional liability insurance. This includes architects, engineers, consultants, IT professionals, accountants, real estate agents, insurance agents, and many others. Even a single claim can be financially devastating without proper coverage.
What does professional liability insurance cover?
Coverage typically includes legal defense costs, settlements, judgments, and damages arising from client claims of negligence, errors, omissions, or failure to perform professional duties. Many policies also include cyber liability, pollution liability, and contractual liability coverage.
How much does professional liability insurance cost?
Costs vary significantly based on your profession, annual revenue, claims history, coverage limits, and deductible. Contact NextGuard Insurance for a customized quote based on your specific situation. Most firms find the investment in coverage far outweighs the risk of uninsured liability.
What coverage limits should I carry?
Coverage limits depend on your profession, client contracts, and risk profile. Common limits range from $500,000 to $5,000,000 or higher. Many client contracts require specific minimum coverage limits. We recommend reviewing your contracts and discussing appropriate limits with our specialists.
How do I get a quote?
Simply fill out the quote request form above, call us at 754-337-9710, or email adolfo@nextguardinsurance.com. We'll gather information about your business and provide a customized quote within 48 hours.
Do you cover medical professionals?
Yes. We provide comprehensive medical professional liability insurance for physicians, surgeons, dentists, chiropractors, mental health professionals, and other healthcare providers. Coverage includes malpractice liability, patient injury claims, and healthcare facility coverage.
