Are you in search of League City TX errors and omissions insurance? Well, then, you’ve come to the right place. Our team at Texas Insurance Agency can help you with any insurance needs you have. At our brokerage firm, we can tailor plans just for you. We also offer great rates and options to bundle your plans with other ones if need be.
League City TX errors and omissions insurance
As it concerns League City TX errors and omissions insurance, you can get the right help on whatever you need. It doesn’t matter if you’re a real estate agent, accountant, or engineer; you can be confident we will help out. When it concerns insurance, there are a lot of things to consider.
What comes to mind is the cost that you’ll have to pay and what goes into that cost. What goes into the cost might be the age of your business, the type of business that you do, and how much money that you make.
Errors & omissions insurance
Errors & omissions insurance is a specific type of liability insurance that covers mistakes in your professional services. Instead of general liability insurance, this would be under professional liability. As an aside, this insurance is vital for real estate agents. Real estate agents have to be careful when it comes to selling property. If there’s a flaw on the property, they could be liable. A lot of claims go towards the brokers, agents, and appraisers.
Errors & omissions insurance can also be vital for people in other fields. What comes to mind are engineers, accountants, barbers, veterinarians, and website developers. On the whole, errors & omissions insurance covers any mistake in your professional service. In addition, this type of insurance covers you from any loss of income from your business activities.
However, errors and omissions insurance does not cover any criminal wrongdoing or activity. It also doesn’t cover any property damage or anything to do with employees.
People that are under errors and omissions insurance include the owner and the workers. The protection also goes over any subcontractors for your business. Like with any type of insurance, this covers any legal costs that come with lawsuits.
In particular, errors and omissions insurance protects against claims of misrepresentation, bad customer service or advice, and any omissions. However, it doesn’t cover injuries or accidents at your workplace. So your League City TX errors and omissions insurance wouldn’t help in that regard. That goes with general liability insurance.
General liability insurance is what any company needs to have for protection. Errors and omissions insurance only covers things under the professional side of things. When it comes to your workers and customers, you will need general liability insurance.
General liability insurance is there to help your employees if they get hurt on the job. It also protects against claims from your customers. So, while errors and omissions are under professional liability, it is still a type of liability insurance.
What also goes under general liability insurance is workmen’s comp. Workmen’s comp is what helps you when your employees get an injury on the job. Again, like with errors and omissions insurance, it helps with any legal fees that can come up if you go to court.
One thing to consider is that errors and omissions insurance doesn’t cover any discrimination or harassment in the workplace. For that, you will need to get separate liability insurance. That would have to be employment practices liability insurance.
Employment practices liability insurance
Employment practices liability insurance is what protects the company when employees have issues at work. This type of insurance protects against claims of discrimination, harassment, wrongful termination, and other employment issues.
For any major company, it would be prudent to have this type of insurance. Even in today’s world, it’s vital with so many corporate jobs out there. In the beginning, a company could be liable when they have a new hire. A new hire may allege discrimination if they feel like it.
Errors and omissions insurance does not cover any property damage. That would be outside any professional liability insurance coverage. Here at Texas Insurance Agency, we recommend you get commercial property insurance or a general property damage insurance policy.
Commercial property insurance is what protects you if there are any problems with your equipment or tools. In addition to the property damage coverage, this is what protects you in case of fire or thunder or any type of natural disaster. Property damage coverage is really important if you have a small business.
Cost of insurance
With any type of insurance like errors and omissions, you will pay in accord with a lot of factors. The size of your company and how many people you have on staff comes into play as well. The area where your company is plays a role as well. But in the end, it all comes down to risk. Risk is what insurance providers look at when they come up with premiums.
The risk could be anything to do with your company. That risk could be the type of work you do or your claim history. It’s crucial to keep those things in mind when you try to buy your insurance policy. On average, the cost for errors and omissions insurance could be anywhere from $800 to almost $2,000. On average per year, you could look at over $900 to almost $2,700.
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Texas Insurance Agency has over four decades of experience, and you can rely on us to get the job done. We act as a broker to get you in touch with the right insurance company at a reasonable price. You can be sure we give sound advice on the insurance plans you want. So, don’t take your time! Come visit to learn more about us. For your League City TX errors and omissions insurance, you’ll need all the help you can get from the right place.
Fun Facts about League City, TX
- League City is a waterfront town.
- The city is close to the Gulf of Mexico.
- MD Anderson Cancer Center is in the city.
- The town has a land area of 51.26 square miles.
- To learn more about League City, visit the site.