Professional liability insurance can offer the solution if your company experiences unpleasant financial consequences due to professional errors of employees. As a self-employed person you can also take out professional liability insurance. SMEs and self-employed persons regularly take out professional liability insurance. The advantage with these insurance policies is that you can determine the amount of the deductible yourself and this can differ per person. This means that you can partly determine how you are insured. If you’re going to compare insurance policies, this could be one of the things you look at. This is different for every provider, so it is important to look carefully at the options in advance.
Professional liability insurance very practical
If you incur financial damage that is not related to damage to people or to people’s belongings, professional liability insurance iscertainly essential. You can also fall back on the professional liability insurance in the event of a defense for covered damage if you are not liable. Liability insurance is an insurance that is similar to professional liability insurance, but it is definitely different. You are not insured for the same purpose. With a liability insurance policy you are insured if you accidentally cause damage to someone else or to his or her belongings. This is not the case with professional liability insurance. Damage due to fraud and property crime are not insured with a professional liability insurance policy. There are other aspects for which you are not insured, such as not meeting deadlines and time schedules that have been promised on time.
Where can you compare?
To limit the loss of assets due to professional errors, it is best to opt for professional liability insurance. It is also wise to have liability insurance at the same time. This way you are well insured for almost everything. You obviously want to prevent your company from getting into financial problems due to professional mistakes, luckily you can do something about it. By comparing professional liability insurance policies on various websites, you can find a lot of information about what is and what is not insured where. This way you know exactly where you stand and you can easily view a few things in an overview. It is therefore wise to contact the insurance if you have questions, want more information or if you need advice.