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

BizInsure insurance partners

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
Thank you for your good service.
Great experience. Very professional!
👌 Perfect
Easy to access
Amazing service! From start to finish.
Appreciate for being up to date!
Alex was awesome!! Walked me through the process with great patience and care. Found me a perfect policy for my LLC at a GREAT price.
This was easy. The customer service was great. I would recommend this company to anyone
Fantastic!
straight forward, efficient and thorough. i highly recommend it.
easy to get quote and coverage
I had a good experience with this agency. It was an easy process and all the information was explained well. I like that it has an excellent rating with the Better Business Bureau. The Bizinsure agent Andrea Magee was kind, helpful and professional.
what a great coverage with an amazing price
Sales Rep Andrea Magee was very pleasant and professional.
Ms. Magee knew exactly what insurance I was seeking for my business and went to work immediately on finding the right coverage for me. I was able to get coverage right away. I highly recommend this company!
Good professional services. quick and simple easy steps for an insurance quote for my business. Thank Biz Insurance
I called today a bit unsure, but once I spoke with Andrea, she guided me through the entire process with patience and clarity. She also pointed me in the direction of other helpful services. A+ experience!
BizInsure is the Best. Not only was Andrea informative, she was professional, and spot on! Give them a call you will not be disappointed!
Easy to use, called in advance so I was not late on renewal.
I called 3-4 companies. Bizinsure / Andrea knew exactly what I needed! She guided me through the process and was very informative. Give them a call you won’t be disappointed!
My representative Andrea was great ! She was informative, personable and made me feel comfortable. I called at least 4-5 companies and by far Bizinsure was the best!
Great
Excellent customer service