Professional Liability Insurance

Many professional service providers in various fields call New Jersey, New York, or Pennsylvania home. These professionals have one thing in common. They all need professional liability insurance coverage.

Insurance Center of North Jersey can help you get the professional liability insurance coverage you need to protect yourself from potentially devastating litigating resulting from your professional actions.

Who Needs Professional Liability Insurance?

Professional liability insurance, also referred to as professional indemnity insurance and errors and omissions insurance (E&O), helps protect professionals who provide particular services, provide advice to clients, or are requested to have this type of coverage by their clients, from the costs and many damages of litigation that occurs as a result of their professional actions and/or performance.

Launching a successful legal defense when being sued can be quite costly. Without the right kind of professional insurance coverage, you could find yourself placing your personal assets at risk just to defend your business against legal accusations.

If you provide a service, as a professional, chances are good that you need professional coverage of some sort to defend yourself and your business. Various professions that currently invest in professional or errors and omissions policies include:

  • Lawyers
  • Doctors
  • Dentists
  • Accountants/CPAs
  • Chiropractors
  • Physician Assistants
  • Nurse Practitioners
  • Physical Therapists
  • Architects
  • IT Consultants
  • Engineers
  • Property Managers
  • Photographers
  • Personal Trainers
  • Travel Agents
  • Hair Stylists
  • Shipping Companies
  • Wedding Planners
  • Caterers
  • Accountants
  • Psychologists
  • And many more.

This list is hardly exhaustive, but is should provide you with a good picture of the types of businesses that need this vital insurance coverage in order to protect their interests.

What Should You Look for in Professional Insurance Coverage?

Different insurance providers offer different types of coverage in their professional liability or indemnity insurance policies. While there are many key differences, these are a few specific types of coverage you need to be certain you have.

Legal Defense Costs Coverage – This is perhaps the most basic and important type of coverage you should expect from your liability insurance. Even if your case doesn’t go to trial (as in it settles out of court) the legal expenses associated with it can be staggering. If your case goes to trial, they can be downright crippling without insurance coverage.

Work Completed by Contractors – If you have, or plan to have, 1099 subcontractors or W2 employees working for your business, it’s vital that the services they provide on your behalf are also covered by your insurance policy. Otherwise, your business could be left holding the bag – and paying the price for their mistakes or failures.

Personal Injury Coverage – In the world of litigation, personal injury by professionals involves issues such as libel, slander, and even invasion of privacy. There are many ways this particular coverage is necessary.

Copyright and Intellectual Property Coverage – These are important issues businesses much address in the information age, when intellectual property involves a huge territory in the grand scheme of things including software and other copyrighted materials.

Not all of these types of coverage are included in a standard professional insurance policy. That’s why it’s so important to discuss the specific, individual needs of your business with a trusted independent insurance agent.

Why Work with Insurance Center of North Jersey?

There are plenty of insurance agencies in NJ, NY, and PA. You’re probably wondering what it is that makes us so special. In addition to our 80 years of providing intelligent insurance and personalized service to the North Jersey community, we also place great emphasis in our status as an independent agency.

What does our independence mean to you? At first glance, that may not seem very important. However, once you realize what a difference it can make to the range of insurance products we’re able to introduce our customers to, it will be hard for you to see a reason to look elsewhere for your insurance needs.

Being independent means we’re not tied to one company for the insurance products we offer you. We work with many providers in order to bring you what is truly the most insurance benefits for the least amount of money.

Call Insurance Center of North Jersey today at 201-525-1100. We can answer your questions and discuss your professional insurance needs.