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Review Summary: NetQuote is the leading online source for business insurance, including professional liability insurance. Receive quotes from multiple providers using just one convenient and secure online form. With indemnity companies competing for your business, you are getting the best rates for the coverage your company needs to be properly protected.

prosFREE, no-obligation insurance quotes. Easily and quickly get multiple quotes for professional liability coverage from national indemnity companies.

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It doesn’t matter what your profession is, if you are in business for yourself, you have to carry the right type of commercial insurance coverage so that you are protected against future liabilities. This is particularly important for professionals who dispense advice, or provide a service, where a mistake can cause financial harm to their clients. Without the right commercial coverage in place, an individual, or small business owner, is needlessly exposing themselves to financial liabilities that they might not be able to recover from.

NetQuote is the leading online indemnity marketplace where you can quickly receive multiple quotes for commercial coverage. As an online aggregator of insurance providers, NetQuote lets you securely request a FREE, no-obligation professional liability insurance quote from the nation’s top coverage providers such as Nationwide, Farmers, The Hartford, Travelers, and Allstate, as well as local agents.

Since 1989, NetQuote has streamlined the process of finding policies for over 20 million people. They have the largest network online of national carriers and local agents, which saves you a considerable amount of time when it comes to getting the right policy. By having indemnity companies compete for your business, you can quickly find the lowest professional liability insurance cost and purchase the best policy for your situation.

Professional Liability Insurance Coverage

Professional liability insurance coverage (Wikipedia definition), also known as errors and omissions insurance, protects professionals such as architects, doctors, lawyers, and accountants, against liability claims stemming from a variety of client financial losses, including failure to perform. A general business liability policy typically only covers personal or bodily injury or property damage, not financial damage caused by a mistake. Therefore, it is vitally important to have the right type of specialized protection in place to mitigate any potential financial judgements.

Professional liability coverage is for liability claims caused by unintentional negligence that does not result in bodily injury or property damage. Common issues covered by this type of policy include negligence, misrepresentation, inaccurate advice, or failure to perform, which all can result in a financial loss to the client. As you can see, there are a wide variety of scenarios that can result in a financial judgement against you as an advice giver, or service provider, which necessitates having a specialized policy in place to protect yourself.

Following are some specific examples of professionals requiring a professional indemnity insurance policy:

  • Lawyers - Lawyers not only defend clients in lawsuits, but they also dispense legal advice. Lawyers professional liability insurance protects against those times when this advice is deemed poor and results in a financial loss to the client. Also known as attorney professional liability insurance, this coverage is invaluable especially for attorneys that specialize in business or financial matters, and whose advice is the basis for a client’s decision to move ahead with a plan or project.
  • Accountants - When it comes to matters of money advice, accountants are often the most sought after individuals. Because they deal specifically in financial matters, CPAs must have an accountants professional liability insurance policy in place for those times when a mistake on their part results in a financial loss on the part of their client.
  • Architects - Designing of buildings is the domain of architects, and when they make a design mistake that results in a project being delayed, or even having to be rebuilt, it can cost their clients a significant amount of money. Architects professional liability insurance can provide protection in these circumstances when the loss of a client’s money is involved.
  • Engineers - There are many types of engineers, many of which design items that are vital to our daily life. Design mistakes are possible, and do happen, necessitating engineer professional liability insurance coverage to be in place. Considering that a single design oversight can lead to massive financial losses, this policy is extremely important for engineering professionals.
  • Consultants - By their very nature, consultants dispense advice upon which their clients rely on in order to make business and financial decisions. Because of the potential for poor advice resulting in a financial loss to clients, professional liability insurance for consultants is as vital as any other commercial coverage policy.

Certain industries have specific names for professional liability coverage. For example, physicians have malpractice insurance and accountants, home inspectors, and appraisers have errors and omissions insurance. It doesn’t matter what the policy is called, it serves one particular purpose - to provide coverage to professionals when they are sued for damages resulting from a perceived failure to perform. Unfortunately, you probably can’t rely on your general liability policy to provide this coverage, which is why this specialized coverage is available.

Get a Professional Liability Coverage Quote

Having the ability to quickly compare your commercial coverage options greatly simplifies the process of obtaining the right policy. Use NetQuote to receive multiple quotes from top indemnity companies, which will save you a great deal of time as you search for the best professional liability insurance companies for your situation.

If you are a professional that needs coverage for negligence, inaccurate advice, failure to perform, or another event that can cause financial loss for your client due to your mistakes, then you really need to get a professional liability insurance quote. Get multiple FREE, no-obligation quotes from top indemnity providers by making use of NetQuote’s easy and secure online form. Don’t let another day pass without having the policies you need to protect against the liabilities you face on a daily basis!


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