If you are a professional who operates your own business, you need professional liability insurance. This is in addition to general business liability insurance and/or a business owner’s policy.

What is professional liability insurance?

As a professional, it is assumed that you have extensive knowledge and training in your field of expertise. Therefore, you are expected to perform services according to the standards of your particular field. Failure to demonstrate the degree of skill expected of you while performing services for hire can leave you responsible for any harm caused to a person or business as a result.

Maintaining a professional liability insurance policy helps protect you from the legal fees and court costs associated with a lawsuit should one be filed. Even if you did nothing wrong, you can still be sued and you will still need to defend yourself even if you ultimately win the lawsuit.

Who needs professional liability insurance?

Although this list is not meant to be all-inclusive, the following professions are generally considered to be those that should carry professional liability protection:

  • Technology professionals including IT consultants, Website and software developers, System and project designers, IT security professionals, and hardware/software installers
  • Consultants including business, educational, management, event planners, marketing, and public relations consultants
  • Real estate brokers, agents, property managers, and appraisers
  • Creative professionals including graphic designers, authors, promoters, photographers, and advertisers
  • Other professions including engineers, architects, accountants, lawyers, and financial advisors

If your business falls into one of the categories above, you should be carrying professional liability insurance in addition to business insurance.

Not sure if you need a professional liability policy? Give Peter a call at 1-888-725-7776 or Contact Us for a quote! Our licensed insurance agents can help you choose the exact insurance products that your business needs to stay protected.