What is Errors and Omissions Insurance?

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Businessman sits with his head in his hands leaning forward over a table. Side view of the man hunched over with face hidden,  a view through glass doors of a small boardroom.

By: Rachel Quinn

We’re all human. Unfortunately that means sometimes errors are made. That’s why businesses needs errors and omissions insurance.

As a business owner, a minor mistake could result in a major financial loss for your client. Even if your business isn’t at fault for the loss, you could get sued anyway. Errors and Omissions insurance will defend the claim and pay the loss if necessary.

Each policy is customized to fit the needs or your business and industry. That means a painter and an IT company won’t have the same exact policy and coverage.

Errors and Omissions Insurance covers:

  • When you or an employee made a mistake.
  • When your team failed to meet a deadline.
  • When your client has financial loss because of your work
  • If your team didn’t make a mistake but get sued anyway.

It can help pay:

  • Attorney fees
  • Court costs
  • Settlements and judgements

Want to get a quote? Call Michigan First Insurance Agency at 844.788.0818.

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