Mistakes happen, but in business, one wrong move can prove costly. If you own a business in New Jersey, for example, you may think you are properly insured for an error or omission if you have a commercial general liability policy. However, protection for professional services is usually excluded under this kind of insurance, and that’s where specific coverage for errors and omissions in NJ can put your mind at ease.
Protection for Many Industries
Types of exposure are as diverse for different professions as the variety of services they provide. When it comes to an error or omission that results in injury or property damage to another person or business, your company will need to have E&O coverage or you will have to pay any claims that arise out of pocket. Types of professionals who often find it advisable to purchase errors and omissions in NJ include
• Real Estate Professionals
and many others. Mistakes might include something as seemingly insignificant as a miscommunication, or an error made on a form, which is why EO coverage is so important.
Setting the Proper Limits
A policy for errors and omissions in NJ will cover your legal expenses in addition to awards for damages and out-of-court settlements up to the limits set forth. An experienced insurance agent can work with you to ensure your business has the proper amount of EO insurance.