Professional Liability Insurance in Franklin, TN
Professional liability insurance, also known as errors and omissions (E&O) insurance, is crucial coverage for individuals and businesses providing professional services. This type of insurance may cover expenses related to claims of negligence, mistakes or failure to perform. It is vital in fields where advice, expertise or services are offered to clients.
Who Should Carry Professional Liability Insurance? 
Professionals across various industries may benefit from carrying professional liability insurance. This coverage is essential for those who provide specialized services or advice, such as the following:
- Doctors and healthcare providers
- Lawyers and legal professionals
- Accountants and financial advisors
- Consultants and business advisors
- Architects and engineers
- IT professionals and software developers
- Real estate agents and brokers
What Is Covered by Professional Liability Insurance?
Professional liability insurance may cover legal defense expenses, settlements and judgments resulting from claims of negligence, errors or omissions in the services rendered. It may also cover claims of misrepresentation, violation of good faith and inaccurate advice. However, it generally does not cover intentional wrongdoing, criminal acts or general liability claims.
How Much Should I Expect for Coverage?
Insurers consider many factors when calculating your professional liability insurance premium. These include the following:
- Industry and profession
- Experience and claims history
- Coverage limits and deductibles
- Location
- Business size and revenue
Who Offers Professional Liability Insurance?
Allee Agency Inc. is your reliable agency for professional liability and other business insurance needs. Contact us today to learn about affordable professional liability insurance options.