Errors and Omissions Insurance
Insurance coverage for the costs of legal claims or damage caused by errors or unintentional omissions from your work.
Insuring over 1 million small business owners worldwide.
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What is Errors and Omissions Insurance
Coverage for Honest Mistakes
Errors and omissions insurance, also known as E&O insurance, provides coverage if your client claims that a mistake you made resulted in damages. Sometimes referred to as professional liability insurance, E&O insurance covers a variety of claims that typically involve human error.
Negligence or alleged negligence
Errors and omissions insurance can cover the legal costs related to claims of mistakes, poor service, or a lack of proper care.
Poor performance or results
If your business doesn’t deliver work as promised, a customer could sue you to recover any losses they experienced as a result. Errors and omission insurance can help cover any damages and legal costs.
Employees representing your business
Your E&O insurance policy can also help cover claims related to mistakes or negligence by an employee or an independent contractor you hire.
Legal defense costs
Even if you’ve done nothing wrong, a client could still sue you. Your business E&O insurance could help cover the legal costs to defend yourself.
How Much Does Errors and Omissions Insurance Cost?
Get a quick estimate in just 3 steps. Prices as low as $25.83/mo.*
Do I Need Errors and Omissions Insurance?
We recommend errors and omissions insurance for nearly any small business that provides professional services or advice. We can help find an E&O policy for many different types of businesses, including these:
Answers to More Errors and Omissions Insurance Questions
What determines the cost of errors and omissions insurance?
The cost of errors and omissions coverage depends on a variety of factors, such as the type of work you do, your professional experience, and the amount of coverage you choose.
Some other factors can include where your small business is located and your claims history.
How much E&O insurance do I need?
The amount of coverage you may typically need depends on a number of factors, including your type of business, the services you provide, and the risks you face.
Is errors and omissions insurance the same as professional liability insurance?
This term is often used interchangeably with professional liability insurance, and for the most part, they’re identical. Depending on your profession or line of work, one term may be used more commonly than another, but both can protect businesses against claims of negligence or mistakes.
What does errors and omissions insurance cover?
Typically covered:
- Work mistakes and oversights
- Undelivered or unfinished work
- Legal defense costs
- Missed deadlines
- Breach of contract
Typically not covered:
- Intentional mistakes and omissions
- Property damage
- Medical expenses
- Bodily injury
Is negligence the same as carelessness?
The two words are often used interchangeably, but they can be defined differently. Carelessness could be spilling water on the floor. Negligence is when that careless act leads to harm, like someone slipping and getting hurt because of the spill.
Why work with Simply Business?
We provide customized coverage options and quotes from top-rated small business insurers – all in just 10 minutes. More than 1 million small business owners worldwide trust us with their insurance, and we consistently earn high customer ratings and reviews.
Business Insurance
A one-minute explanation
Learn more about policies for small businesses, what they cover, why you might need them, and how we can help – all in just 60 seconds.
Business insurance is often made up of different types of policies to cover different things, similar to how your health insurance can include medical, dental, and vision coverage. Here are some of the policies small business owners may need:
• General Liability Insurance: Often considered the Swiss Army knife of insurance, general liability can cover a lot, including costs from third-party accidents, property damage, bodily injury, and more.
• Professional Liability Insurance: Nobody’s perfect, and that’s where professional liability insurance comes in. It can be helpful in cases of honest mistakes or claims of negligence.
• Workers’ Compensation Insurance: This coverage can protect your business and help take care of employees who get sick or injured on the job.
• Cyber Insurance: Small businesses are big targets for cybercriminals. Cyber insurance can help cover costs associated with stolen customer data, cyberattacks, breaches, and fraud.
• Business Owner’s Policy (BOP): A BOP combines different types of coverage, such as general liability and commercial property insurance, into a single policy.
Putting these coverages together for you is where we come in. You tell us a bit about your business—online or over the phone—and we customize coverage options based on what you do and what you need.
It’s your business, so it should be your insurance as well. That’s why we’re here.
Feel confident about your choice
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More Helpful Information About Errors and Omissions Insurance
*Displayed price is an estimate based on the 10th percentile of Errors and Omissions policies sold by Simply Business between January-June 2024, divided evenly across a 12 month policy term. Actual price and payment terms, including an initial down payment, may vary based on your state, insurance provider, and business.