Austin insurance agents liability insurance gives you peace of mind that you are protected in case you make an error or omission in a client policy. If that happens, you may be liable for damages and attorney fees as a result. Let’s take a look at what this type of insurance is and what it covers.
What is Errors and Omissions Insurance?
Errors and omissions insurance protects you as an independent agent or your company as an employee of an agency if you are held responsible for a service or lack of service that resulted in some type of damage to the client. Things like property damage that should have been covered but wasn’t or emotional damages claimed for damaged items.
What Types of Things Are Covered?
Most policies will cover judgments, settlements and attorney costs. Even if you are found not liable, you may have to spend thousands of dollars in attorney fees. Without Austin insurance agents liability insurance, you are looking at fees that can bankrupt an independent agent or smaller company.
Provide Against Human Error
Everyone makes mistakes, it’s just a fact of life. That’s why it is so important to secure protection against those mistakes. Look for a specialty insurance provider to determine your coverage requirements and give yourself and your clients, some peace of mind.