Professional Liability Insurance is a type of insurance policy that protects an individual’s personal assets from the financial consequences of a legal liability claim. Professionals such as doctors, lawyers and accountants typically need to purchase professional liability insurance to ensure they are protected in case their clients believe they have been wronged or harmed.
Types of Professional Liability Insurance
Professional liability insurance is a type of coverage for professional services. It protects against claims of negligence, providing coverage for lawsuits and legal fees. Professional liability insurance is often required by law, especially when working in the medical field or as an attorney who represents clients. In addition to protecting against claims made by clients, professional liability insurance can also cover you if someone makes a claim against your company (e.g., if they slip on ice outside your office).
You can purchase individual policies for each professional within your organization or group policies for multiple individuals at once–in which case all named parties would be covered under one policy number.
What is a type of professional liability insurance?
What is professional liability insurance?
Professional liability insurance can be defined as an insurance product that helps protect you from legal liability. It covers claims of negligence, errors and omissions, and other acts that could cause harm to clients or their property.
What are the types of professional liability insurance?
There are two main types: Errors & Omissions (E&O) coverage; Medical Malpractice Insurance
What is professional liability insurance vs general liability?
Professional liability insurance is a type of general liability insurance that protects professionals against claims of malpractice or negligence. It’s important to understand the difference between professional liability and general liability insurance, because they cover different types of losses:
Professional Liability covers you when you’re held accountable for your actions as a professional (such as an attorney or doctor). It’s meant to protect against any potential lawsuits related to those actions.
General Liability covers property damage or bodily injury caused by your business operations, such as if someone trips over a box on your store floor and breaks their leg while shopping at Walgreens–that would be covered under General Liability Insurance
Who is an insured under professional liability policy?
In general, professional liability insurance covers anyone who provides a service for profit. This can include:
- Employees of companies
- Self-employed professionals (e.g., doctors)
In addition to these two groups, there are some other protected parties that may fall under your policy if they are involved in the work being performed or the product being created by your business or organization. These might include:
Best Professional Liability Insurance
If you’re a professional, it’s important to know how much liability insurance you should have. The type of coverage depends on whether your employer provides it and what state laws require.
Additionally, consider these factors:
- Do they require a license to practice? If so, do they cover any disciplinary action related thereto? This can be particularly important if there is potential for litigation against an individual or agency within the scope of their employment (e.g., doctors).
- Are members of professional associations required to carry professional liability insurance? Some states mandate that only licensed professionals must maintain such coverage; others allow non-licensees who work under contract with licensed individuals (e.g., lawyers) to do so as well.
Professional Liability Insurance Quote
Getting a professional liability insurance quote is simple and only takes a few minutes. If you’re looking for a quote online, there are several websites that provide this service. You can also get one from an agent or broker who specializes in insuring professionals such as doctors, lawyers and accountants.
How to Get a Professional Liability Insurance Quote
There are several ways to get your own personal professional liability insurance quote:
Who Needs Professional Liability Insurance?
If you’re in the business of providing a service to others, professional liability insurance is an absolute must. That could be as simple as providing your own services or selling products and services.
Professional liability insurance protects you from lawsuits related to your business activities. In other words, if someone sues you because they were injured while using one of your products or services, professional liability insurance will cover any legal costs associated with defending yourself against that claim.
Professional Liability Insurance Examples
Professional Liability Insurance Examples
If you are an accountant, a lawyer or a doctor and practice in the United States, then it’s likely that you need professional liability insurance. Professional liability insurance protects professionals from malpractice claims that may arise from their services. This type of coverage is often required by state law as well as by private clients. In this article we’ll explore what professional liability insurance is and how it can help protect your business against claims made against you or your employees by clients who have been harmed while using your products or services.
Make sure you get the best professional liability insurance
Professional liability insurance is a type of insurance that covers your legal expenses if you’re sued by a client or their family. It also protects you from being sued by third parties, such as customers, suppliers and contractors.
You can get professional liability insurance quotes online through companies like Policygenius or quote sites like Insureon that offer competitive rates for many different types of professionals (doctors, lawyers and more). The cost varies depending on the policy term length and coverage limits.
A few examples of what this type of coverage might do:
- If someone sues you because they were injured while using one of your products or services–and they win–the insurer will pay any legal fees associated with defending yourself against them in court.
- If someone sues because they were hurt while visiting one of your offices as part of doing business with one of its employees who was acting within his job description at the time but wasn’t technically “on duty,” then again there would be no problem because he was simply fulfilling his obligations as an employee when this happened; therefore all costs associated with defending himself against these claims would be covered under this kind
Conclusion
If you’re looking for professional liability insurance, we can help. We have been in the business for over 30 years and have access to some of the best companies in the industry. You can get an instant quote by filling out our form above or by contacting us directly at (800) 787-3730
