Is it possible to find the best error and omissions insurance rates for a given profession? Well, the answer to that question is definitely, Yes. E& O insurance as it is normally referred to protects the policy holder in the event a claim of negligence is filed against them. It is important to note that it does not matter how careful an individual is, there will always be cases of negligence arising regularly while on the job. While some claims might have a strong legal basis, others are just malicious.
There are some things you can do to ensure that you get affordable E & O quotes. First of all, you should get a policy before a claim is filed against you. Since you will be starting with a clean record, you will be able to get good rates. In most states, professionals are required to have professional liability insurance before they can practice.
Another way to ensure you get the best error and omissions insurance rates is to find a provider that specializes in you line of work. There are providers who specialize in offering policies for real estate agents, others specialize in auto insurance while others specialize in homeowner’s insurance. Getting a policy from a company that deals with your particular line of work will save you a lot of money.
As with shopping for any other product, the best way to get the best E & O quotes is to shop around. The more providers you visit, the better you chances of getting affordable insurance.
If you don’t have the time to look at several policies, you can visit a licensed insurance broker or agent. These individuals work closely with insurance providers so they know who offers the best rates.