Why do Psychologists need insurance?
Given the relationship your profession has with the public sector, you are keenly aware that expectations can vary and accidents sometimes happen. Because of this, it is not uncommon for people to be dissatisfied and look for financial recourse. BizInsure is where you can obtain dependable and affordable insurance tailored to exactly what you do. Click or Call us today to compare quotes from leading insurance companies and save.
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You can relax knowing you’ve secured the right insurance and the right price with Bizinsure. We allow you to compare multiple quotes so you can compare cost and coverage.
What is Professional Liability Insurance?
Professional Liability, otherwise known as E&O insurance, protects your business against claims of negligence, misrepresentation or mistake. Typically, the allegation is that your services, products or employees caused some form of financial damage to a third party. Regardless of fault, litigation is expensive, drains time and damages reputation. Professional Liability insurance can protect professional service providers from potentially devastating financial damages resulting from alleged negligence or error in the delivery of your services.
Coverage is provided for:
- Attorney fees and other legal expenses
- Costs and expenses related to a settlement
- Costs and expenses related to a judgment
Professional Liability Insurance (aka E&O insurance) – Psychologists
In a profession where you work to help others look and feel better, Professional Liability is a crucial asset. People are sensitive about appearance and if something goes wrong, the consequences can be devastating.
A Professional Liability policy for individuals and businesses in the Psychology space can help cover claims alleging negligence, mistakes, errors, omissions, etc. related to the services you provide. It often covers claims when people are hurt, upset or feel under-served. A Professional Liability policy can also cover claims alleging personal injury (e.g., libel, slander, defamation, etc.).
When dealing with the public, mistakes are bound to happen. Small injuries, bad service and even offending someone can cause sizable damages, so it’s best to be prepared.