Consumer Demands and Professional Liability Insurance Go Hand in Hand

/ BLOG

Consumer Demands and Professional Liability Insurance Go Hand in Hand

May 31, 2017 · 3 minutes to read

In the modern world, consumers can perform thorough research on thousands of options before deciding where to buy their services. Throughout the research process there are many purchasing considerations and the consumer develops their own ideas about what quality they should expect to receive for the price they’re willing to pay combined with the convenience with which they hope to receive it.  When a client purchases a service, they expect that the provider will devote adequate time, skills, and resources to meet their need as they stated they would. Whether the customer has formed expectations that are realistic or not, there are still businesses that do their best to satisfy the paying customer, just to keep their business.

Every day individual professionals and businesses face the challenges and pressures of generating income. During economic downturns the task of producing profits is even more daunting.  As a result, many professionals are forced into reaching out for business that they may not have accepted in the past for fear of not making enough revenue. This practice can be risky if the service provider does not have the required resources or skill set to fully meet the client’s needs. While taken on with the best intentions, this can prove to be even more costly in the future if the provider over promises and can not meet client expectations. This is where professional liability insurance comes in. In its most simplistic form, professional liability insurance provides protection for the provider, when the client feels his or her expectations are not met.

A business transaction can be simple or complex and expectations can vary significantly.  For example, a short order cook who only wants a quick trim for a cheap price may go to a local barber shop. All that he expects from the barber in return for a nominal fee is that the barber gives him a decent haircut and doesn’t shed blood with unwieldy clippers or razors. However, an actress like Meryl Streep getting ready for the Academy Awards will require a much more sophisticated haircut and perhaps additional premium services such as professional color or even extensions. Instead of a local barber she will likely seek out a highly trained stylist and will pay significantly more for that ‘proven’ stylist’s time, expertise, and creativity. If, by some chance, the local barber convinced Ms. Streep that he could take on her famous tresses and then made a mistake, the Oscar winner’s reputation would suffer which could potentially affect her livelihood.

In this example, the service provider faces different levels of risk with each client’s expected result. The consequences can include the loss of future business, damaged reputation and even the potential for very expensive lawsuits. Professional liability insurance offers service providers a built in defense mechanism against the different levels of expectations; ultimately it helps people protect themselves, and their businesses from the unknowable, subjective nature of client expectations.

BizInsure Guest Blogger: Andrew Silva

Talk to us

Today’s BizInsure offerings are just the beginning. Please take the time to tell us what you think, offer advice, ask questions, give compliments, or make a request…customer feedback defines us. We’re listening. Click here to contact us.

Get Free Online Quotes and get coverage instantly

The coverage you need for your business.

Business insurance is divided into different policies. We offer 4 types so it's easy to design the coverage that fits your business.

Professional Liability Insurance

Get a quote

General Liability Insurance

Get a quote

Business Owner’s Policy (BOP)

Get a quote

Workers Compensation Insurance

Get a quote

Let's find

The coverage you need for your business

Professional Liability Insurance

Get a quote

General Liability Insurance

Get a quote

Business Owner’s Policy (BOP)

Get a quote

Workers Compensation Insurance

Get a quote

bizinsurance makes purchasing Business Insurance...SIMPLE!
Andrea W.
1701380391
Great quality of Service ,faster and convenience way to pay at most. Thank you for your Service to my Healthcare Facility .
Quick and easy!!!!
Terry
1701319042
Great service! Easy process and very informative representative. Andrea was great and very patience with our process. I would recommend using them!!
Terrance R.
1700848536
Always and easy process. Thanks!
Gerald S.
1700244544
Renewal was quick and easy online
Angelita K.
1699752900
I had a great experience working with Andrea from BizInsure. She was extremely knowledgeable, helpful, and responsive throughout the entire process. She guided me through the different options available and helped me find the perfect home care professional liability insurance policy that suited my needs. Her professionalism and expertise made the entire experience smooth and hassle-free. I highly recommend working with Andrea and BizInsure for all your insurance needs.
Juliette S.
1699032636
Easy to submit an application and to get quotes
Simone S.
1698775217
I had the most pleasant prompt and professional experience of my life with Bizinsure. Everything was completed in record time, at an unbelievable cost…and my certificate of Insurance was promptly emailed to me. Most of all it was effective immediately. No hassle no back & forth, just great service highly recommend to all small businesses.
Marcia S.
1698407456
Excellent
advanced U.
1697824466
Great service. Very professional and cordial. Thanks
Jeremiah U.
1697064641
BizInure has been a great company for our insurance needs. I wish customers services was 24/7, that would make it a five stars
Novilette L. J.
1696828014
Easy to navigate what you need. Always notify ahead of renewal!
Athena T.
1696646371
This is the best company I have ever worked with. They are professional and get you exactly what you need. I highly recommend them!
Jim P.
1696451803
this is really easy
Riaz R.
1696428004
Andrea was very useful and professional. I will be recommending Biznsure to my friends that need business insurance. Keep up the good work. I wish the agency also offers auto insurance and whenever you do I will be one of the first to sign up as sign of my appreciation.Mike Okonkwo.
Mike O
1696282284
Kalab was excellent. Great, great Agent. Every step was organized and well planned. I WILL recommend your firm to anyone. Thank you...
Easy to renew Policy
Plain S.
1695644756
Great total experience. The agent was professional, knowledgeable,and a pleasure to work with. The fastest business insurance purchase I've ever experience. I highly recommend Bizinsure.
Tony W.
1695492357
Communication was excellent and the process was easy.
Jessie R.
1695153508
I have been using Bizinsure for several years and find the ease of renewing as well as generating additional insured certificates to be easy and useful, especially as a sole prop. thank you
Michelle C.
1695060008
Kaleb tailored the right coverage to our business. Customer service was good and gave great understanding of coverage. Thank you from Goleda's Gentle Homecare LLC
Aneesah M.
1695056651
A GOOD COMPANY FOR HEALTH CARE INC
Supreme A.
1694871640
Easiest & fastest online quote and purchasing experience out there. Inside of 10 minutes I had a quote, payment draft, and policy in force... and at the most competitive GL rates I found.
Rusty H.
1694699044
very quick and prompt service.
Sally Jo W.
1694180429
caleb was great in helping me navigate thecorrect liabilty insurance for my company
Lindsay Erin P.
1694135867
Friendly fast service I recommend you to all vendors
Terry R.
1694133043
Great
Kemi S.
1694119021
Great Customer service and easy renewal process!!!! I would refer this company to anyone.
Chris H.
1694038325
Great company easy to work with, Andrew was very helpful,you can call him any time he is ready to listen and help
Olu A.
1693959486
Good customer service indeed
BASSI T.
1693944217
js_loader
Google Rating
4.6
Based on 214 reviews
×
js_loader