Professional Liability Insurance in Murray, UT
Regardless of your business’s diligence and its employees’ experience levels, errors, oversights and other unfortunate mishaps are inevitable. As a company, you need to account for these potentially difficult scenarios, which could impose costly financial losses and complicated legal cases. At Statewide Insurance Agency, we’re ready to help.
Why Professional Liability Insurance Matters
Professional liability insurance, also known as errors and omissions (E&O) insurance, can help protect you from the financial consequences of situations where your business is accused of making a mistake or providing subpar services. These policies can be a critical safeguard, potentially curbing out-of-pocket costs that might otherwise devastate your business’s financial interests and reputation.
What Can My Policy Cover? 
Professional liability insurance may help account for various losses and legal expenses arising from accusations that you’re responsible for other parties’ losses. For example, if a client or customer sues your business, alleging that you’re responsible for their damages, your policy might assist with legal costs, such as attorney fees, settlements and judgments. Financial aid may be available when responding to the following allegations:
- Professional errors
- Inaccurate advice
- Omissions
- Oversights
- Misrepresentations
- Negligence
- Missed deadlines
- Breaches of contracts
Who Needs This Type of Insurance?
Although not always required by law, any business that provides services or guidance to clients should highly prioritize professional liability coverage. Specifically, the following types of companies often make one of these policies an integral component of their business insurance package:
- Consultants and advisors
- Accountants and financial professionals
- Health care providers
- Real estate agents and brokers
- Technology and IT professionals
- Advertising and marketing professionals
In many cases, clients may refuse to work with uninsured businesses, meaning that lacking professional liability insurance could cost you potentially lucrative opportunities and stunt your company’s growth.
How Statewide Insurance Agency Can Help
Our team at Statewide Insurance Agency takes the time to understand your business and the specific risks you face in and around Murray, UT. Contact us today to discuss your professional liability insurance options with our experienced team.