Errors and Omissions Insurance in Virginia

  • Compare quotes in minutes, with no commitment to buy
  • Buy online and get confirmation of coverage immediately
  • Access only top-quality insurance companies (A-rated or better)

Get instant quotes

What is Errors and Omissions insurance?

Also known as E&O or Professional Liability insurance, an Errors and Omissions policy protects your business against claims of negligence, misrepresentations, or mistakes. Professional Liability claims are typically made by clients who allege some form of financial damage as a result of your services, products or employees.

According to the U.S. Small Business Administration’s Office of Advocacy, there are 795,624 small businesses in Virginia as of 202. They are responsible for 99.5 percent of businesses in the state, but these numbers are increasing.

No matter what industry that you’re working in, the kind of products you offer, or the nature of your services, mistakes may happen. While you may be an experienced professional but it only takes one mistake to start a suit against your company.

Errors and Omissions insurance is crucial for entrepreneurs with small businesses in order to safeguard their future financial security in a highly competitive market. Your business is protected against any claim arising out of your negligent actions (errors) as well as insufficient services (omissions).

What does Errors and Omissions insurance cover?

In Vermont, Errors and Omissions insurance covers your legal expenses up to the limits specified in your contract. It will help you save:

  • Legal fees The majority of lawyers are charged an hourly rate. Engaging an experienced lawyer can be costly, even if the issue is resolved quickly. Therefore, the longer it takes to get resolved, the more you’ll pay.
  • Court Expenses Filing documents in the court’s office, underwriting fees or other administrative costs and any other legal costs.
  • Settlements to keep both sides in the pocket and to avoid costly, lengthy cost of litigation, the majority of cases are settled without the courtroom. You may have to pay an individual client a certain amount based upon the advice of your legal counsel.
  • Judgments – If your case is put to trial, and the judge is for the plaintiff you’ll need to pay the amount that was adjudged to be fair. In the event that you do not, there is the possibility of a lien being applied against your business assets.

Who needs Omissions and Errors insurance in VA?

Professionals and companies whose job pertains to providing clients with counsel, informed recommendations or conceiving solutions, or who serve the needs of others may purchase Errors and Omissions insurance.

Regardless of whether the associated claim is valid or unsubstantiated, Errors and Omissions insurance will protect your professional reputation and profits as well as business assets from potentially expensive negative consequences.

Professions that generally require E&O insurance include, but are not limited to:

ArchitectsNotary Publics 
ConsultantsPersonal Trainers
Engineers Pilates Instructors 
Home Care Providers and BusinessesYoga 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 Virginia?

In Virginia, the average cost for Errors and Omissions insurance is $812 per year. However, it is contingent on your particular business. Like other insurances, the more risky the element that you are exposed to, the more you likely have to pay for it.

The main factors that will determine the cost of your Errors and Omissions coverage are:

  • Your company’s top priorities, location and risk appetite
  • The turnover of your business and size
  • The amount of insurance coverage you need
  • Your prior claims history If there were any
  • The individuals being covered – their qualifications and suitability for the position, as well as any claims from the past

Get instant quotes

How to get E&O coverage for my Virginia business?

BizInsure is a great way to compare E&O policies with the top-rated U.S. insurers and find the best coverage for your company at a reasonable 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
21st Century QHC agency for Home care insurance company.
Tie J.
Andrea Mcgee was great to work with
Audra M.
Customer representative extremely professional and courteous!
DJ Jeff B
I wanted to add another letter to one word on my street, and the website allows me to do that, and it took less than 5 minutes for them to approve the amendment. How wonderful, I love their service very much.
Ema F.
Representative was very kind, helpful, and educated me well. I appreciated today's experience.
Tina P.
Thanks for the overall service. The rates were great, and they were able to cover the services that was needed. Please call BIZinsure for your commercial needs.
Cheequanda M.
Responsive and easy
Crime R.
I have used BizInsure for 2 years and they make the renewal process quick and easy.
hospicecare 4.
Excellent business and great people! They have out done our prior insurance of 23 years! Keep up the good work!
James F
Very satisfied with the application process, Andrea was very helpful and friendly. Great service ! Thank you !
Don C.
No waiting !!!
Renee G.
Very good company to do business with.
Jeff M.
Teven Lous was wonderful to work with. Thank you
Valerie K.

Popular Searches

Google Rating
Based on 121 reviews