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Thursday, December 1, 2022

Errors & Omissions Insurance to Protect Your Professional Advice

If your professional advice or service costs your client money and you’re sued, E&O insurance will cover you. Full article here: 

Many people pay experienced professionals to give them trustworthy advice on things such as buying a home, legal issues, tax preparation, investing, and more. Most of the time, these professionals give sound advice that can help them with their goals. But what happens if they give inaccurate or faulty information to a client? 

Besides potentially costing money, this could result in a lawsuit. Fortunately, for professionals who are brought into those lawsuits, there is insurance that can cover them. This type of insurance is called errors & omissions, or E&O, insurance. It’s also sometimes referred to as professional liability insurance. E&O insurance is always a separate insurance policy that’s bought in addition to a standard general liability insurance policy. 

Businesses that offer any type of professional advice or provide services to clients are good candidates for E&O insurance. To help determine if your business needs errors and omissions insurance, it’s important to understand what your standard commercial general liability insurance doesn’t cover you for. 

General liability is the type of liability that almost all businesses have if they have business insurance. It covers your business for lawsuits if you’re found negligent for somebody else’s injuries or property damage, such as a slip-and-fall injury or having a faulty product that caused somebody injury. General liability specifically does not cover (excludes in insurance-speak) professional advice and services. 

Typically, insurance companies have specific errors and omissions coverage forms that apply to each industry. 

Common professions that use errors and omissions coverage include:

  • Lawyers
  • Accountants
  • Financial advisers
  • Barbers and beauticians
  • Cemetery professionals
  • Contractors
  • Architects
  • Engineers
  • Social services
  • Teachers or tutors
  • Funeral directors
  • Wedding planners
  • Fitness trainers
  • Veterinarians
  • Doctors
  • Dentists
  • Insurance agents
  • Counselors
  • IT services
  • Marketing firms

If your business is based on your professional expertise and you’re providing advice and recommendations to clients, then be sure to speak with an independent insurance agent about errors and omissions insurance coverage. 

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, contact your Trusted Choice agent, SouthGroup-Gulf Coast , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Denise Russell, Melissa Moran, Alex Treutel, Mark Strickland,  Anne Gillam, Michael Scardino, Joey Eagle, Cody Barnes, Wendy Butler and Melinda Teaford at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520 or 2505 Pass Road, Biloxi MS 39531;  email:, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook We have 2 Gulf Coast locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

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