Professional Liability Insurance
in Georgia

What is Professional Liability insurance?

Customers are becoming more difficult to please due to the increased competition. Regardless of how meticulous you are when completing your work, small mistakes could lead to an issue and eventually a claim. Inadvertently, every time you offer advice to customers or take work from them, you are exposing yourself to risk.

Also known as Errors and Omissions (E&O) insurance, a Professional Liability 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.

If a product that you designed fails to work or your advice has led to an economic loss to the client, you may be the victim of an action for liability. It is possible to be accused of making a mistake when working on your project or failing to perform as expected. But Professional Liability insurance in Georgia can provide protection for your business from third-party lawsuits caused by professional negligence or errors.

What does Professional Liability insurance cover?

Even if the claim is not legitimate, legal fees and court costs can easily reach the thousands. This financial burden could affect entrepreneurs with small businesses. In addition, the possibility of business closures or bankruptcy could result from liability claims.

Based on the type of coverage you select and the amount you agree to in your insurance contract, Professional Liability insurance could help you save up to

• Legal costs – Getting an experienced legal professional isn’t an inexpensive job. Lawyers typically charge an hourly fee.
• Costs for Court This covers filing documents at the courthouse, underwriting fees administration costs, as well as other related expenses.
• Settlements If your client accepts in writing to settle the matter outside of the court system, you could be able to avoid a lengthy and drawn-out court procedure. However, you’ll still have the obligation to make a payment according to what your attorney advises.
• Judgments You’ll be required to pay the court’s amount if the case goes to trial.

Importantly, Professional Liability insurance in Georgia will cover you even if not the one to blame. Baseless claims can be just as expensive to resolve as those that do have merit. The Professional Liability insurance will help you protect your business image and cover the costs mentioned above so that you aren’t totally out of pocket.

What is not included in the policy?

Professional Liability insurance protects businesses from common risk exposures. It is important to understand that this insurance doesn’t cover everything. If you have events that aren’t included in your insurance, you might need to search for alternative coverage options like:

• The commercial property you own or your property
• Damage to client property or property of third party
• Accidents or illnesses that are work-related for employees
• You may sustain third-party injuries in your home
• Business interruptions

BizInsure offers other types of coverage that can help shield your business against the risks that small-sized businesses face. Georgia small-scale business owners may be interested in General Liability, Workers’ Compensation as well as a Business Owner’s Policy to better protect them against a wide range of risks that could impact their business.