Professional Liability Protection Tips

Keep Your Business Safe with Professional Liability Protection

When it comes to your small business, it’s important that you protect it with all the right coverage. While you may have general liability, workers’ compensation, and commercial auto insurance, have you considered professional liability insurance?

Professional liability insurance is coverage that is designed to protect you against potential claims made by your clients or patients. It’s ideal coverage for home inspectors, attorneys, nurses, accountants, real estate brokers, website developers, and many others. This coverage centers around financial loss, failure to perform, and the error or omission of services or product sold to a client.

Additional coverage can also be added for:

  • Intellectual property
  • Personal injury
  • Breach of warranty
  • Security
  • Cost of contract

Even in this litigious society, you can help to prevent claims made against your business.

  • Keep thorough records. When it comes to protecting yourself from a lawsuit, it’s important that you keep documentation of all your business relationships and transactions. That way, should you find yourself in legal trouble, you have documents to support your claim. Ensure that you have written contracts, keep confirmation emails, written policies and procedures, and a written method through which clients are able to complain.
  • Set realistic expectations. Communicate clearly with clients to ensure that nothing can be misunderstood. If you fail to deliver on what you promise your client, you can start to encounter large problems. Even though you may be in the habit of overpromising, it is best to stop now before it gets you into trouble.

Keep your company safe with the right professional liability protection. Invest in quality commercial insurance so that you’re well protected. The team at Premier Risk Insurance serve Long Island and neighboring cities in New York – Contact us to get started today.