What is Errors & Omissions insurance?
It goes by many names like:
But don't get it twisted! All the terms are interchangeable, and mean the same thing.
Consultant E&O insurance policies range from $400 per year to multiple thousands of dollars per year.
After surveying our client base in 2022, we found that the average cost of consultants E&O insurance was $832 per year. That is a slight up-tick from our 2021 survey which found the average cost of consultants E&O insurance at $802.
Most of the consultants we insure are coming to us for the first time without having any prior E&O liability insurance coverage. Navigating the murky waters of E&O insurance can feel like a daunting task, and securing a quote usually involves filling out a lengthy application with specific information related to your business.
Luckily, InsuranceTrak makes it easy for consultants to apply and shop for E&O insurance with our interactive QuoteTrak website application.
When securing a quote, it is important to make sure we understand the full scope of the consulting services you offer. Consultant E&O liability insurance is built to protect businesses from lawsuits that allege they provided bad advice or some other service that lead their client to suffer a financial loss.
We can help you find the most competitive insurance carriers for consultants E&O liability insurance quotes. Call us at the number above or use our QuoteTrak tool to start your quote today.
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