Business Insurance

Professional Liability Insurance

Since 1953, our independent agency has helped professionals compare liability insurance options while we do the shopping for them. Let us review your needs with access to more than 30 rated insurance companies.

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professional Liability Insurance Coverage for More than 70 Years

Professional Liability Insurance (E&O insurance) protects your company from claims if your client holds you responsible for errors, or the failure of your work to perform as promised in your contract. Coverage includes legal defense costs – no matter how baseless the allegations.

Professional Liability insurance will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy.

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Compare Professional Liability Coverage Options

Professional Liability Insurance coverage can extend to both W2 employees and 1099 subcontractors and can be worldwide in scope. Professional Liability Insurance – Errors & Omissions – coverage is not provided by a Commercial General Liability policy. Commercial General Liability does NOT provide coverage for errors, contract performance disputes or any other Professional Liability issues. Companies who have General Liability without Professional Liability Insurance – Errors and Omissions – coverage are taking a serious risk.

Oyer, Macoviak and Associates offers professional liability insurance guidance for many types of businesses, including:

Every business is unique – talk to Oyer, Macoviak and Associates today to find out how to get the best professional liability insurance, service, price, and value. Give Oyer, Macoviak and Associates a call for a professional liability insurance quote at 561-732-9305.­

Why Do Business with us?

As a local insurance agency (Boynton Beach, Florida) we take the time to cater to our customer’s policies to create the correct policy for them. Our team of agents is dedicated to help you protect you, your loved ones, and your business. Our office can handle any risk in Florida. In addition, our office is a Trusted Choice Insurance Agency (Independent Insurance Agent).

01What is professional liability insurance?

Professional liability insurance coverage can vary in price depending on how much liability protection you need, your level of professional and financial risk as well as where you live. The average cost for a small business owner runs between $500 to $1500 per year for up to $1 million in coverage. How much professional liability insurance do I need?

For most small business owners, the general rule of thumb is to get enough liability coverage to protect your annual gross income. Banks and other lenders will often require that you have at least $300,000 in professional liability insurance before they grant a business loan.

02How much does professional liability insurance cost?

Professional liability insurance coverage can vary in price depending on how much liability protection you need, your level of professional and financial risk as well as where you live. The average cost for a small business owner runs between $500 to $1500 per year for up to $1 million in coverage. How much professional liability insurance do I need?

For most small business owners, the general rule of thumb is to get enough liability coverage to protect your annual gross income. Banks and other lenders will often require that you have at least $300,000 in professional liability insurance before they grant a business loan.

03What is a retainer?

A retainer is an advance payment you make to your insurance company in exchange for receiving initial legal defense and investigation services from its attorneys. A typical retainer ranges between $200,000 – $1 million although the exact amount will vary from one policyholder to another depending on their industry.

How far back do I need to look when checking my professional liability insurance coverage?

Professional Liability Insurance policies provide “tracing of loss” protection that allows you to pursue full payment from the insurance company for covered claims, even if they were incurred in years past. When your policy expires, tracing of loss protection also goes away, and you will be responsible for covering any losses on your own.

04What is a deductible?

A deductible is the amount that you agree to pay towards any covered claim before receiving benefits from your professional liability insurance policy. All policies have deductibles although some are higher than others depending on the value of the coverage.

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