Errors And Omissions Insurance Washington State
Errors And Omissions Insurance Washington State provides protection for a wide variety of situations, and can cover a wide variety of expenses. Usually, this type of insurance covers claims made during the policy period and can be retroactive, too. Many policies include lock-box coverage for claims relating to the use of keyless entry systems, for example. Others provide open house coverage, which covers claims related to showing a property to multiple buyers.
If you are an accounting or tax professional in Washington State, you can take advantage of a special program offered by Travelers. This program provides members of the Washington Association of Accounting and Tax Professionals with access to a policy designed specifically for accounting professionals. These policies are available in several limits and deductible amounts and can be tailored to the specific needs of your business. These policies are underwritten by Travelers Casualty Company of America.
Errors And Omissions insurance is often an optional coverage, but it can help protect you financially in case of an error. It is inexpensive and gives peace of mind. However, premiums for this type of insurance can vary, depending on the market. For example, if you are a new company, you may pay more for the policy than if you have been in business for a long time.
Errors And Omissions Insurance Washington State – Get A Quote Now
Washington Notary Errors And Omissions Insurance policies range from $10,000 to $100,000. These policies protect the notary from mistakes made while performing their duties, as well as from any lawsuits that may result from them. A single mistake or error could lead to years of financial damage. The cost of defending one lawsuit can cost a notary thousands of dollars, which is why it is a good idea to have this insurance. The policy will also cover the cost of legal fees if a claim arises.
Another option for business owners is cyber insurance. This type of coverage covers costs related to system hacks, data security breaches, and credit card fraud. Cyber insurance is typically an optional add-on to other policies. Buying cyber insurance is a good idea if your business has any data or customers are vulnerable to hackers.
If you offer advice or services to businesses, errors and omissions insurance is essential. The wrong advice or bad advice can destroy a company’s reputation. This type of coverage is particularly useful for business professionals who offer advice or services to other businesses. This can include attorneys, accountants, consultants, bankers, and more.
While the cost of this coverage can vary, the majority of small business owners pay between $500 and $1000 per year. And 18 percent pay less than $1,000 a year. This coverage will protect a business from costly lawsuits resulting from an agent’s mistakes.
