Professional services insurance was developed to address the unique exposures of service professionals.
Today, it is crucial for service providers to defend themselves against claims of careless behavior, mistakes, and omissions. The cost of defense and the damage to one’s reputation are always high after a professional service error. It would be best if you weren’t in a position where this would cost your livelihood. However, a good safety net will go a long way toward protecting your career.
Professional service insurance can protect you and your business if you make a mistake while providing professional services to a client or customer. Even if you are a pro in your field, mistakes will still occur, and your client or customer has the right to sue you if they believe that a mistake in your professional services resulted in a loss of money. For small firms, professional liability insurance helps pay claims for negligence, misrepresentation, and incorrect guidance of personal damage, such as slander or defamation.
Your client has the right to sue your company even if you didn’t do anything wrong and they think you made a mistake. Without coverage, you’ll be responsible for footing the bill for an expensive defense.
To identify the best personal service insurance suitable for your business niche, contact a knowledgeable agent with a professional and passionate approach to your needs. Hignojos Insurance Agency is the best firm to consult with any insurance-related needs.