Legal liability insurance is something you may or may not be familiar with. It is an important thing for any attorney practicing law to be covered in case a client that is not happy with them for any reason decides to bring a legal suit against them. You never know when this may happen, and it can even happen if you don’t do anything wrong. If a legal suit such as this is filed against you, your legal liability insurance policy will cover your costs and legal fees to protect yourself. As you can see, this type of insurance is an important part of your business.
This type of insurance can protect you in the event someone accuses you of malpractice or errors and omissions. Thus, there are other names that legal liability insurance is known by such as errors and omission insurance and legal malpractice insurance. There are even clients who have financial losses they are trying to make up for that may file a lawsuit against you just to try to recover some of this money. This is not morally right or honest, but does happen, unfortunately.
You will have choices in your coverage areas when you are choosing this type of insurance. You will also be able to choose what insurance limits and deductibles you would like to go with on your policy.