/ BLOG

Errors and Omissions Insurance Michigan

Feb 17, 2023 · 4 minutes to read

Get E&O insurance for Michigan small businesses

Errors and Omissions insurance Michigan - Young man and woman using the tablet and working together

The Great Lakes State is home to nearly 912,000 small businesses or about 99.6% of all businesses in the state. If you work for yourself, you might benefit from the protection provided by Errors and Omissions insurance for Michigan small businesses.

Errors and Omissions insurance protects your business against claims of negligence, misrepresentation or mistake, and document or paperwork errors.

Learn how to find the best coverage for your small business and compare multiple quotes online with BizInsure.

What is Errors and Omissions insurance?

Lawsuits are serious matters, especially for small business owners. Unexpected legal expenses can make a large dent in your daily cash flow and savings account. Needing to defend your business means less time spent on running your day-to-day operations. Potential damage to your professional reputation may be hard to bounce back from.

That’s where an Errors and Omissions policy can be useful.

An Errors and Omissions (E&O) insurance policy is an essential type of coverage that protects you and your company in case of a lawsuit due to alleged professional wrongdoing. Sometimes called Professional Liability insurance, these policies help protect your finances and your business reputation.

You may also see E&O insurance sold as Michigan malpractice insurance if you are looking for a policy to cover a home health aide or home health agency.

What does E&O insurance cover in Michigan?

Errors and Omissions insurance in Michigan helps shield small businesses against professional wrongdoing, such as:

  • Mistakes, errors and omissions in your work
  • Undelivered services
  • Missed deadlines
  • Allegations of professional negligence
  • Breaches of contract

E&O policies typically cover the costs of defending your business in court, such as your legal defense fees, court costs, and other admin fees. It may also cover settlements or judgements that result from legal action.

Who needs E&O insurance in Michigan?

Errors and Omissions insurance in Michigan can help create a vital safety net for many types of small businesses. You might want to consider E&O insurance if you are regularly:

  • Providing clients with advice or recommendations based on your professional knowledge
  • Designing custom solutions
  • Representing your clients’ interests on their behalf
  • Have employees who do any of the above

The coverage provided by E&O insurance may be important for a diverse list of occupations—from accountants and engineers to real estate agents and consultants.

Compare multiple quotes online now and get instant coverage for your small business.

Is Errors and Omissions Insurance required In Michigan?

Michigan business insurance requirements do not require businesses to have E&O insurance. However, a policy may be necessary to receive certain professional licenses and to join some industry associations. Visit the State of Michigan or your association’s website for more information on industry insurance requirements.

Even if you are not required by law to have E&O insurance, it may still be necessary to work with some clients. They may include minimum coverage requirements in their business contracts that you are obligated to meet.

How much does Errors and Omissions Insurance cost in Michigan?

The price of E&O insurance varies between businesses, even those working in the same industry. This is because insurance companies consider many factors when they calculate your premium. Information commonly used to determine insurance premiums includes:

  • Your occupation and/or the industry you work in
  • Your business’ annual revenue
  • How many employees will be covered by the policy
  • Your employees’ licensing and experience
  • The amount of coverage you choose
  • Your history of claims

One way to understand how much you can expect to pay for E&O insurance is to compare multiple quotes online. Seeing what different insurers can offer could also help you find the best coverage for your small business needs.

As with any insurance, coverage will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this guide is general only and should not be relied upon as advice.
The number of quotes provided varies between products, occupations and other underwriting factors determined by the insurers.
© Copyright 2023 BizInsure LLC, 2015 ALL RIGHTS RESERVED BizInsure LLC; CA DBA: Simple, Smart, BizInsure Insurance Agency LLC; NY DBA: BizInsure Services LLC; NH DBA: Simple, Smart, BizInsure Insurance Agency; PA DBA: BizInsure Services LLC. 2950 Buskirk Ave Suite 300, Walnut Creek CA 94597. License #0H81929

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

Friendly and very fast service!
Patricia S.
1713020220
Jennifer Whiscombe, is an amazing agent. She was very knowledgeable, thorough and friendly. I highly recommend.
Ebony D.
1712939806
They make it very easy to buy insurance and renew.
Bill N.
1712763118
As a business owner I love not wasting time. Thank you so much for giving me more time
mario S.
1712678018
Very straight forward, the cost of coverage amount made sense, simplicity was appreciated.
Jean H.
1712557699
Always easy. Thank you.
Dave C.
1711734978
A Company that is easy to deal with and that I have used for several years. I appreciate the continued support.
Sam M.
1711718774
Very easy and affordable!
Volanda H.
1711024298
Very easy to work with, cost effective, prompt renewal and easy to get certificates of insurance instantly. I use them exclusively for my professional and general liability insurance needs as a consultant.
Larry (.
1710956598
Responsive and professionalCompetitive price. I highly recommend Bizlnsure as an insurance provider
Zynab B.
1710433556
Your service is easy to renew as needed and your company informs the client in advance for renewal.
Henry B.
1710352389
It has been a pleasure doing business with Biz Insure Llc.Their representatives are very courteous, helpful and customer service oriented.
Shonta I.
1710297732
Quick and easy....
Tammy K.
1710172643
I follow the instructions & would prefer to paid every month. I did not have the options to pay every month.
Alamo H.
1709935830
Thank you, Amy, for making my experience enjoyable and funny. Thank you so much for your kindness!!!
George J.
1709840615
I'm pleased with the business quote I received from Bizinsure LLC. Thank You!
Shanda J.
1709586997
Very satisfied with the online experience
Nicole h
1709238653
Been a happy customer for years! Easiest company to receive a quote and get insured. No hassles! Easy payment! Finance plans, if needed!
jodi H.
1709226367
Love it
Hanna R.
1708272180
Every year, BizInsure is my go to for general and professional liability insurance! Thenrates are unbeatable.
Calandra K.
1708044666
The agent was quick and efficient in generating a quote for my needs.
Theresa F.
1707895796
I enjoy working BizInsure they always answer all my questions and make sure i have the correct coverage for my business.
Prompt and professional service from Biz Insure. Thanks Leslie and Liza!
Bev G.
1707524454
Very easy to sign up for insurance.
Great company
Brown G.
1706896003
Fast and efficient!
Kim C.
1706746693
It was great being able to get a policy that suits my company's need in less than 30 minutes. They were vey thorough. Very competitively priced.
Lynette C.
1706621476
I worked with Andrea for another start up business. She was very knowledgeable and help me pick the correct policy. Amazed at how quickly the process went.
Representative was very kind, helpful, and educated me well. I appreciated today's prompt service with confirmation that I was satisfied with what was provided to me.
Tina P.
1706224051
Great company for.your low cost business insurance needs.
constantin T.
1706156911
Staff was very fessional and friendly. I was able to get a quote and move forward within 20 minutes.
Pebbles S.
1706126428
Wonderful
Complete C.
1705788054
MUY BUENO
Super easy process.
Ashley G.
1704830227
It’s very easy to understand and at a very reasonable price.
Mary M.
1703780096
Professionalism, Quality, Responsive and budget friendly
B D
1703029371
Great rates, easy to understand and select appropriate coverage, can get in a jiffy
Brie C.
1702775397
I have been a customer of BizInsure for a few years now and I love it. There customer service is awesome and the prices are affordable.
Danyale W.
1702132165
Quick easy experience! The rep was knowledgeable & pleasant. Customer care was awesome to respond and clarify my concerns.
Kathy Ann A.
1702059151
js_loader
Google Rating
4.7
Based on 262 reviews
×
js_loader