Everyone wants their business to be the best it can be, but sometimes things don’t go the way they should. No one is perfect, and mistakes are sometimes made. While that is understandable, clients whose homes or finances are on the line shouldn’t have to suffer as a result of a company’s error. NJ errors & omissions (E&O) policies protect a wide variety of businesses and their customers from loss due to mistakes or negligence.
E&O insurance is professional liability coverage that recoups the cost of legal defense and, if applicable, damages to be paid. Many businesses can benefit from this type of insurance. Real estate agents and contractors might need an E&O policy if a home turns out to be less than what the professionals promised. Accountants and other financial advisors can count on their NJ errors & omissions insurance to compensate for any claims filed against them due to miscalculations or misguided projections. Any industry where an error could result in a financial loss could benefit from E&O insurance.
No matter what industry your business is in, mistakes are bound to happen from time to time. The next error does not have to be an utter disaster. Errors & omissions insurance can protect your business, your employees and your customers from financial losses whenever errors do occur.