With so many different types of insurance policies out there, it is hard to keep track of them all. Miscellaneous professional liability is one of those coverages that you may be unfamiliar with, but you may know it by its other name: errors and omissions liability. In order to understand if you need this type of coverage, you have to understand what this protects you from.
This type of policy provides protection if you as a professional or your business are sued due to certain allegations. These allegations could include:
- Improper protection of clients personal information.
- Neglectful actions that lead to injury of person or property.
- Untimely service or lack of service.
You might feel that you do not need this type of coverage because you are careful, you have a secure network and you have a rapport with your clients. However, even if you are the most by the book professional who never makes a mistake, you are still at risk to be sued. You dont have to do anything wrong in order for these allegations to be brought against you.
Talk to an Agent
If you are a professional in any type of field, you should talk to an expert in miscellaneous professional liability to find out what sort of coverage you need to be fully protected.