Professional Liability Insurance
in Kentucky

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Kentucky has over 364,000 small businesses, according to the most recent figures released by the U.S. Small Business Administration Office of Advocacy. These small companies are an integral component of the state’s economy, making up 99.3 percent of the state’s companies and adding more than 163,144 new employments to the state in the year 2022.

The top five industries in Kentucky’s state for small-sized businesses are:

  1. Accommodation and Food Services
  2. Health Care and Social Assistance
  3. Professional, Scientific, and Technical Services
  4. Construction
  5. Retail

You may want to guard your company from risks that are common, regardless of what industry you are in. Professional Liability insurance is one method to achieve this. This policy will protect you from claims that could cause a major loss to your business.

What is Professional Liability insurance?

Small-scale businesses that offer professional services or offer suggestions to clients are advised to consider purchasing Professional Liability insurance in The Bluegrass State.

Professional Liability, otherwise known as E&O insurance, protects your business against claims of negligence, misrepresentation or mistake, as well as document or paperwork errors. The allegation usually is that the product, service or employees you provide to your customers resulted in financial loss to your clients.

Imagine, for example, that you gave professional services for your client, but it wasn’t appropriate for the client. After receiving your services, the client suffered personal and financial losses. They then file a lawsuit against you. A Professional Liability policy can help you cover the costs of defending your business.

What does Professional Liability insurance cover in Kentucky?

Professional Liability insurance in Kentucky provides protection against:

  • Error or Mistake
  • Omission
  • Deadlines missed
  • Services not delivered
  • Negligence
  • Contract breach

If a lawsuit or claim is brought against your business in connection with any of the above the above, your Professional Liability insurance policy will cover your legal costs incurred in defending your business. This includes legal fees, documentation and underwriting costs, administrative expenses as well as settlements and judgments.

In Kentucky, Professional Liability insurance safeguards you from both real and alleged losses caused by your work. Lawsuits can be costly, regardless of whether they have merit or not. A Professional Liability insurance policy safeguards your business from legal costs. The company would be responsible for the expenses without a policy. This could lead to bankruptcy or a business’s failure. In the worst case scenario, it could be necessary to draw on your savings to pay for legal expenses.

What isn’t covered?

Professional Liability insurance provides important insurance protections to small businesses, but it does not protect against every risk your company may face. Different types of insurance coverage could be necessary to safeguard your business.

Small-sized business owners in Kentucky might want to think about these types of insurance to meet their insurance requirements:

  • General Liability – Also called Commercial General Liability (CGL) or “slip and fall coverage”, this insurance can protect your company from injuries to the body or property lawsuits brought by outside parties.
  • Business Owner’s Policy – Also known as a BOP, this is a type of insurance that is a combination of General Liability and Business Personal Property coverage to protect small businesses against costly service interruptions.
  • Workers’ CompensationWorkers’ Compensation insurance (also called Workers’ Comp or Workman’s Comp) protects you from claims and medical expenses that may result from workplace injuries and illnesses. They can also be liable for loss of wages because of injuries to the workplace that an employee sustains.

Who might need Professional Liability insurance in Kentucky?

Many kinds of professionals and companies may benefit by having Professional Liability insurance in Kentucky. This includes ventures that are involved in providing guidance based on the expertise of specialists or making informed recommendations, designing solutions, or representing the requirements of other people on their behalf.

Professional Liability insurance protects your reputation as a professional, its profitability and your business assets from the potentially huge costs of lawsuits (whether justified or not).

Professions which may require Professional Liability insurance include:


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

As you can see, the kinds of occupations that usually consider Professional Liability insurance is diverse. If you’re unsure about whether this form of coverage is appropriate for you and your company, it may help to think about the nature of your work.

Business owners or individuals who are involved in these activities may consider Professional Liability coverage:

  • Regularly provide advice or suggestions to customers
  • Create products or solutions that are unique for customers and their customers
  • Represent the interests of a client on behalf of the client
  • Other professional services are also available to customers and clients
  • Employ other employees who are guilty of one of the things listed above.

Professional Liability insurance requirements in Kentucky

Some professional associations require members to carry Professional Liability insurance. The requirement to maintain minimum levels of insurance could be a prerequisite to renewing or obtaining a professional certificate or a position in the industry. Your professional association’s website should provide information about their insurance requirements, if they have any.

Additionally, clients may also demand that you carry Professional Liability insurance to work with them. You can find this requirement written in business contracts and may be required to show proof of insurance prior to begin working with the client.

Even if you’re not required to carry Professional Liability insurance, it may be prudent to maintain a policy. A lot of customers want to know that the professionals or businesses they hire have insurance. Your policy shows your professionalism to customers and also that you are prepared to defend your reputation if needed.

Professional Liability insurance cost in Kentucky

The cost of Professional Liability insurance may vary. Professional Liability insurance prices are greatly influenced by the type of occupation a policy provides cover for. In general, the more risky the occupation, the higher the cost. In average, the cost of Professional Liability in Kentucky is $682 per year.

Other key elements that are crucial in determining the cost of Professional Liability insurance are:

  • Your business turnover and size The larger the contract, it usually means taking on greater risk.
  • The quantity of insurance that you need The more coverage you require, the more you can anticipate to pay.
  • The persons being protected – Are they certified for the job they are performing and do they have a history of claims?
  • The history of your personal claims. If you’ve filed similar claims in the previous policies, the price of your insurance policy could be higher.
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
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