The Importane of Errors and Omissions Insurance Coverage

Gould Agency is ready to assist you with any and all of your Commercial Insurance needs. For a no obligation quote call us today at (386) 734 3970

Errors and omissions insurance is designed to cover your company, or even you individually, in the event a client holds you responsible for a service you might have failed to provide or that did not have promised results. In many cases such as a medical firm this may be referred to as medical malpractice insurance. Or professional liability if you are a lawyer, accountant or engineer.

Most Errors and Omissions policies cover settlements, judgement, and defense costs.

The cost of E&O insurance can vary depending on your location, class of business and claims history.

If your business provides a a service to a client for a fee, you have an E&O exposure

Humans make mistakes. Even with the best employees and risk management practices mistakes are inevitable.

Imagine if an event planner reserves a reception hall, band caterers, etc. for a wedding on March 15 instead of March 20 and everyone shows up except for the wedding party, who is liable? In an instance like this there would be much emotional distress as well.

Not purchasing E&O coverage presents a serious financial risk

The best time to purchase an E&O policy is before the risk is taken. If you are in the service industry and you know that you will have an exposure it is important to make E&O insurance a part of your portfolio. Errors and Omissions coverage can be a selling point with your clients and offers them a peace of mind knowing they will be compensated in the event of an error or omission.

For a free quote on Errors and Omissions Insurance for your Florida based company, feel free to give us a call today at (386) 734 3970

Serving the Commercial Insurance Needs of Orlando, Lake Mary, Sanford, DeLand, Daytona Beach, Port Orange, Ponce Inlet, Tampa, Deltona, DeBary, as well as Volusia, Seminole, Orange, Flagler, and Lake County.