Business Insurance for Professionals – Error and Omissions Insurance
All businesses, large and small, should carry general liability insurance. In fact, it may be a requirement for licensing in some professions. Business insurance for professionals is a little bit different in that they need an additional form of commercial liability insurance coverage called errors and omissions insurance. In a nutshell, errors and omissions insurance covers your business if a client sues you for making a mistake that ends up costing the client. You can read more about errors and omissions insurance, who needs it, and what it covers on our blog.
Commercial Insurance in Michigan for Any Business – E&Y Insurance Agency
While professionals like accountants, doctors, lawyers, engineers, and others need errors and omissions insurance, every business needs general liability insurance. If you have employees, you may require workers’ compensation insurance as well. Business insurance is a general term for the many types of specialized coverage that businesses may need. Each industry has different needs, so it can be difficult to know how to cover yourself adequately. Get in touch with E&Y Agency so that we can help. We will ask the right questions to understand your business. We can then make recommendations for the right type of coverage and find a package that won’t break your budget.
Professional Liability Insurance is a Must
Some professionals don’t need to carry professional liability insurance, but it’s a very good idea. Being sued for making a mistake could be devastating to your business, even if you do win. Having professional liability insurance is a layer of protection that can reduce your stress and leave you feeling more at ease, knowing that you’re covered.
Can You Justify the Cost of Business Insurance?
When you are looking for ways to cut costs, it can be tempting to cut certain types of business insurance that you don’t absolutely need to operate. Before you decide to drop business insurance coverage, do a little math to see what it would cost if something goes wrong. The potential cost of an accident or damage is likely greater than the cost of the insurance. If you’re concerned about your business insurance cost, give us a call and let us help find you lower premiums or help you work with the insurance company to reduce your premiums.
Come to Us for Income Tax Service
E&Y Agency is a tax preparation firm that offers income tax service to people and businesses in Michigan. Call us today at 248-649-6450 or contact us through the web form to get started on your unfiled taxes!
