Errors and Omissions Insurance in Minnesota

  • Compare prices in just a few minutes. There’s no obligation to purchase
  • Purchase online to instantly receive your coverage confirmation
  • Access only top-quality insurance companies (A-rated or better)

Get instant quotes

What is Errors and Omissions insurance?

An Errors and Omissions insurance policy (also known as E&O or Professional Liability insurance) is an essential policy that protects you and your company in case of a lawsuit due to alleged professional wrongdoing.

According to the U.S. Small Business Administration (SBA) Office of Advocacy 2022, there are 534,397 small businesses in Minnesota. They comprised 99.8 percent of all state-wide businesses, but these numbers are rising.

There is always a chance to be a victim of mistakes, regardless of what industry you work in, the product that you sell, or the type of business. Even if you have an impressive track record an error could be the cause of a lawsuit against your business.

Thus, in a highly competitive business environment, where customers are becoming increasingly demanding in their requirements, Errors and Omissions insurance may be required to help small business owners protect their future finances. Your business is insured against any liability arising from your inattention (errors) as well as insufficient services (omissions).

What does Errors and Omissions insurance cover?

In Minnesota, Errors and Omissions insurance covers a variety of expenses (up to the policy limits). This typically includes:

  • Legal costs – Most lawyers have an hourly charge. Employing a good lawyer can be costly, even if the issue is resolved quickly. The longer it needs to be resolved the more you have to shell out.
  • Court Charges – Filing court documents as well as underwriting and administrative expenses.
  • Settlements to help save each party from the expense of long-drawn-out litigation, usually claims are settled out of court. There may be a need to pay the client a set amount, depending on the recommendation of your lawyer.
  • Judgments – In the event that your case will go to trial, and the judge finds in favor of the plaintiff you’ll need to pay the adjudged amount or be at risk that a lien will be placed on your business assets.

Who may need Errors and Omissions insurance in MN?

Errors and Omissions insurance is recommended for business and professionals whose job includes providing advice, educating suggestions, or conceiving solutions.

Regardless of whether a claim is valid or not, Errors & Omissions insurance will shield you, your business, and even your reputation from costly consequences.

Professions that usually require Errors and Omissions insurance include:

Architects Notary Publics 
Consultants Personal Trainers
Engineers  Pilates Instructors 
Home Care Providers and Businesses Yoga Instructors 
Customer service icon

Speak with our licensed agents today

You can relax knowing you’ve secured the right insurance at a competitive price. BizInsure’s licensed and knowledgeable agents are here to help you find the right product.

How much does Errors and Omissions insurance cost in Minnesota?

In Minnesota, the average price for E&O insurance is around $777 per year. However, it depends on the size of your business. As with any insurances the more risky the element the greater the premium you’ll be charged for it.

The main factors that will determine the price of your Errors and Omissions policy include:

  • Your company’s top priorities, its location and risk appetite
  • Your company’s revenue and size
  • The amount of insurance you need
  • Your previous claims history in the event of there were any
  • The employees being covered include their qualifications, suitability to the job, and any past claims

Get instant quotes

How can I get Errors and Omissions insurance for Minnesota business?

BizInsure allows you to compare E&O policy options from top-rated U.S. insurance firms, and locate protection for your small businesses at an affordable cost.

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
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