Laguna Niguel Professional Liability Insurance
Most business owners understand that a general liability policy offers only basic financial protection at a specified amount to financially protect their organizations against claims made for bodily injury and/or property damage. Yet even with this type of standard insurance coverage, your business in Laguna Niguel may still be vulnerable to costly lawsuits when claims involving negligence arise. Coastal American Insurance Services, Inc. provides professional liability insurance coverage and customizes your policy to fit the particular needs of your profession or industry.
Besides negligence standard insurances often do not cover:
- Violation of good faith or fair dealing
- Inaccurate advice
In these cases, you or an employee can be sued with no financial coverage. Leading you to have to pay out of pocket which can lead to financial stress or at worst bankruptcy.
Why Do I Need Professional Liability Insurance?
If a client holds you responsible for services that were provided but did not have the intended results, or if you are accused of failing to provide services, professional liability insurance, (also known as Errors and Omissions insurance or Professional indemnity insurance) will protect your business assets and financially protect you from bearing the full cost of negligence claims in the event that you lose your case.
Which Service Industries Require Coverage in Laguna Niguel?
Any organization that offers goods and services must consider acquiring some form of professional liability insurance in addition to general liability protection. Construction services and auto repair shops for example, will normally require this type of additional coverage. Professionals such as doctors and lawyers and organizations that are involved with caring for or helping others in a professional capacity should not operate without professional liability protection. Financial advisers, information technology professionals, real estate professionals and many other service providers also require added liability coverage in the event of a lawsuit. Consult with a knowledgeable Coastal American Insurance Services, Inc. broker to learn more about the insurance requirements for your business.