Insurance has been invented to help people when they really need it. There can be major expenses that incur without the right policies in place. Any person or company that realizes that mistakes happen every day should get error and omissions insurance. While it is an important policy for all companies it is a necessity for others. You may think your general liability policy covers you, but read the fine print and realize you need a separate policy for errors. Here are a few examples of what could happen without it.
When you are doing a service for someone and they end up unhappy about the results, they can either take you to court or they can expect you to pay them out of court. Your personal assets and all that you have worked for can be brought into the case. You will also have to pay for legal help as you won’t be able to fight the case alone. You should realize if you had gotten error and omissions insurance in the first place you wouldn’t have to pay for any of these expenses.
You don’t have to give up what you have worked so hard for because someone thinks you have made a mistake. If you get error and omissions insurance before you work with any clients you will be able to do your job more efficiently.