When you are working with the public there are bound to be mistakes made at some point. No one is perfect and that is why people get insurance. Error and omissions insurance is a way to ensure that the mistakes you make in your professional life will not leak into your personal assets. Here are a few reasons why you should consider getting this insurance in any profession.
There are probably people that assume that the general liability insurance they have will protect them in case of a mistake happening. Error and omissions insurance was created because the protection just did not exist previously. There are certain things that general liability policies won’t cover. If you read over your policies you will probably notice that there won’t be anything said about mistakes being made. You probably realize that the chances of no mistakes ever being made are just unrealistic. When you deal with any amount of money and the public you are at risk to lose the money you do have without error and omissions insurance. You won’t have to pay out of pocket for your mistake if you get the right coverage you need before you slip up.
You don’t have to give up all of your earnings that you worked hard for because of a small mistake. You should get the protection you deserve before you actually need to use it.