Which Businesses Would Benefit from Professional Liability Insurance?

Even the most trusted professionals can make a mistake from time to time, and if you aren’t insured, this small mistake could set you back massively.

Even if you didn’t do anything but your job, customers have the right to sue you if they believe you didn’t do enough, or they see you as negligent. Below, we look at some of the businesses that would benefit most from having professional liability insurance.

Accountants

If you own a bookkeeping firm, help other businesses with their taxes, or are a private accountant, you may be at risk of a malpractice claim. Even if you are just one person, you can still be sued if you make a mistake that costs your customers their hard-earned cash.

If you don’t calculate their taxes properly or grossly underestimate how much they are paying out, you could set a business back, and they have the right to claim lost money and more.

Consultants

If you work as a consultant helping companies to meet their business goals, you are offering a service that needs to be top-notch. Otherwise, you are at risk of being sued.

Sometimes omissions or errors can occur between your client and yourself or with a third party. One poor recommendation is enough to be liable, making professional liability insurance a great idea.

Home Inspectors

Despite being experienced, there are times when your home inspections may not pick up every last detail, putting you at risk of lawsuits. Unfortunately, we live in a blame culture, and the best way to keep your business safe is with insurance.

If you do have an unhappy client who wants to take you to court, getting professional liability insurance can protect you. Getting this insurance tailored to your profession will ensure you get the right guidance and support should this happen.

Real Estate Workers

Working in real estate can open you up to a whole load of errors and omissions. Many real estate firms are sued for negligence and errors in their service. If you work in real estate or are another professional offering services, professional liability insurance from Hartford has got you covered.

This insurance can be customized depending on the industry you work in and the coverage you need. You can get a professional liability insurance quote in minutes.

Technology Professionals

If you provide technology to businesses, you could be liable for loss of income if your product fails. Many companies expect a certain standard from technology, but there can be times when technology stops working for several reasons.

Even if this is out of your control, if the technology has been produced and provided by you, you remain liable as a professional company.

Lawyers

Owning a law firm opens up a world of liability, as you well know. There are many reasons that cases don’t go the way the client expects, sometimes because of a mistake on your part or for a reason entirely out of your control. Professional liability insurance is of utmost importance for law firms, both small and large.

In the event of property damage or liability claims, business insurance helps cover these costs. Businesses without insurance may face costly damages and legal claims against them.

Professional liability insurance is there for any professionals offering a service to protect yourself and your business against any real or false claims.

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