If you are a business that offers a service or creates a product, it may be in your best interest to invest in professional liability insurance. Professional liability insurance especially protects businesses that offer advice. If a client feels that the advisor had offered bad guidance or that a business has built an inferior product, they have the right to sue the company. Professional liability insurance will cover the costs of a negligence claim or a civil lawsuit.
If your business designs custom made products it may be important to invest in this insurance. If your product does have some faulty design, though it may not cause damage to a person or property but the product itself breaks, your business will need a professional liability insurance plan to cover costs of redesigning, repairing or replacing the product.
Professional liability insurance can include malpractice insurance – for doctors and physicians – as well as errors and omissions insurance – for any businesses that offer professional advice. These insurance plans cover any claims made against any information or guidance given to clients that may have caused damages.
Talk to a Nickerson Insurance agent about how our professional liability insurance can cover your business and the work that your company does. Nickerson prides itself on its personal service and finding the best insurance plans. We know that we can help you feel secure with our great coverage.