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Comprehensive Errors & Omissions Insurance in Illinois by Freedom Brokers

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Freedom Brokers | Errors and Omissions Insurance

Errors and Omissions Insurance Provided By Freedom Brokers

Mistakes are part of business. However, even a tiny mistake could result in a lawsuit for negligence from a client. An Errors and Omissions Insurance (E&O) Liability Policy from Freedom Brokers in Marion can cover legal judgments or settlements. It also covers defense costs, which can be considerable even if you're not found at fault.

What is Errors and Omissions Insurance?

Business liability insurance covers losses due to personal injury, property damage, or advertising injury. But what happens if a printer overlooks a typo on a large order of engraved wedding invitations? Or if a plumbing repair goes wrong, flooding an entire office? Errors and omissions insurance comes into play in this situation.

E&O insurance is specialized liability protection that covers damages not included in standard liability insurance. It protects you and your business in Marion from liability if a client sues for negligent actions, mistakes, or omissions that result in financial loss.

What Does Errors and Omissions Insurance Cover?

Errors and Omissions insurance helps protect your business in Illinois from claims of:

  • Negligence
  • Errors in services provided
  • Omissions
  • Misrepresentation
  • Breach of good faith and fair dealing
  • Incorrect advice

If someone sues your business for an error in the professional services you've provided, this insurance can help cover your expenses, including:

  • Attorney fees, ranging from $3,000 to $150,000.
  • Court costs, including expert witness fees and courtroom reservations.
  • Administrative costs, such as court reporters or office managers.
  • Judgments and settlements, which can reach thousands or even millions of dollars.

Already have Errors and Omissions Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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